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Prohibiting Iran's Special Drawing Rights Exchange

This act prohibits the U.S. Treasury Secretary from exchanging Special Drawing Rights (SDRs) held by Iran. The goal is to limit Iran's access to international financial resources, potentially impacting regional economic stability and global markets, though the direct effect on daily lives of U.S. citizens is minimal.
Key points
The U.S. government will not exchange Special Drawing Rights (SDRs) held by Iran.
The U.S. will advocate for other countries to also prohibit such transactions.
The U.S. will oppose any new allocation of SDRs to Iran.
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Expired
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Additional Information
Print number: 118_HR_6840
Sponsor: Rep. Hill, J. French [R-AR-2]
Process start date: 2023-12-15
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Iran SDR Exchange Prohibition Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6840.

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 2023-12-15.

What are the main provisions?

Key points include:

  • The U.S. government will not exchange Special Drawing Rights (SDRs) held by Iran.
  • The U.S. will advocate for other countries to also prohibit such transactions.
  • The U.S. will oppose any new allocation of SDRs to Iran.
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. Hill, J. French [R-AR-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 2025-12-25.

CATEGORIES

Economy Security