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Ban on US Exchange of Iran's Special Drawing Rights (SDRs)

This legislation aims to restrict Iran's access to international financial assets. It prohibits the U.S. Treasury Department from engaging in any transactions to exchange Special Drawing Rights (SDRs) held by Iran, which are assets issued by the International Monetary Fund (IMF). Furthermore, the U.S. must advocate for other IMF member countries to adopt similar prohibitions and oppose future SDR allocations to Iran.
Key points
The U.S. Treasury is banned from exchanging Iran's financial assets (SDRs) issued by the International Monetary Fund.
The U.S. must actively urge other major countries to implement identical SDR exchange bans for Iran.
The U.S. will use its vote at the IMF to oppose any new allocation of Special Drawing Rights to Iran.
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Expired
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Additional Information
Print number: 118_S_3527
Sponsor: Sen. Scott, Rick [R-FL]
Process start date: 2023-12-14
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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

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_S_3527.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-12-14.

What are the main provisions?

Key points include:

  • The U.S. Treasury is banned from exchanging Iran's financial assets (SDRs) issued by the International Monetary Fund.
  • The U.S. must actively urge other major countries to implement identical SDR exchange bans for Iran.
  • The U.S. will use its vote at the IMF to oppose any new allocation of Special Drawing Rights 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 Sen. Scott, Rick [R-FL].

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

Economy Security