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No US Financing for Iran Act of 2022

This new law prohibits most transactions between US financial institutions and Iran related to imports and exports. It also directs the US to oppose financial assistance to Iran from the International Monetary Fund and blocks financing from the US Export-Import Bank for transactions involving the Iranian government. The aim is to restrict Iran's access to funds, with exceptions for humanitarian goods.
Key points
US banks are prohibited from authorizing most trade transactions with Iran.
The US will oppose financial assistance to Iran from the International Monetary Fund.
The US Export-Import Bank will not finance transactions with the government of Iran or entities it controls.
These rules are set to expire when Iran stops supporting terrorism and is no longer a money laundering concern, or after 10 years.
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Status:
Expired
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Additional Information
Print number: 117_HR_7402
Sponsor: Rep. Huizenga, Bill [R-MI-2]
Process start date: 2022-04-05
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

No U.S. Financing for Iran Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7402.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-04-05.

What are the main provisions?

Key points include:

  • US banks are prohibited from authorizing most trade transactions with Iran.
  • The US will oppose financial assistance to Iran from the International Monetary Fund.
  • The US Export-Import Bank will not finance transactions with the government of Iran or entities it controls.
  • These rules are set to expire when Iran stops supporting terrorism and is no longer a money laundering concern, or after 10 years.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Huizenga, Bill [R-MI-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy Security