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Immediate Freeze of $6 Billion in Iranian Funds Held in Qatar.

This bill mandates the immediate freezing of $6 billion in Iranian funds previously released under humanitarian exemptions, specifically those held in Qatar. The action is taken in response to recent terrorist attacks and aims to prevent Iran from using these fungible funds to finance international terrorism, including groups like Hamas. For citizens, this represents a significant tightening of US national security policy regarding counter-terrorism financing.
Key points
Immediate cancellation of all licenses and exemptions that allowed Iran access to the $6 billion held in Qatari accounts.
Prohibition on the Treasury Department issuing new sanctions exemptions for Iranian accounts in Qatar for one year.
Requirement for the Treasury Secretary to report to Congress identifying all blocked Iranian assets valued over $5 million globally.
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Expired
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Additional Information
Print number: 118_S_3049
Sponsor: Sen. Scott, Tim [R-SC]
Process start date: 2023-10-17
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Revoke Iranian Funding Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_3049.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-10-17.

What are the main provisions?

Key points include:

  • Immediate cancellation of all licenses and exemptions that allowed Iran access to the $6 billion held in Qatari accounts.
  • Prohibition on the Treasury Department issuing new sanctions exemptions for Iranian accounts in Qatar for one year.
  • Requirement for the Treasury Secretary to report to Congress identifying all blocked Iranian assets valued over $5 million globally.
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 Sen. Scott, Tim [R-SC].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Security Economy