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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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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
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Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
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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.

CATEGORIES

Economy Security