To require the President to impose sanctions on foreign financial institutions that conduct transactions with the Central Bank of Iran.

Summary

Amends the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 to direct the President to: (1) prohibit the opening or maintaining in the United States of a correspondent or payable-through account by a foreign financial institution that has knowingly conducted any financial transaction with the Central Bank of Iran; and (2) freeze and prohibit all property and property interest transactions of such institution if the property and property interests are in the United States, come within the United States, or come within the possession or control of a U.S. person. Prohibits such sanctions' imposition if the transaction was for the sale of food, medicine, or medical devices to Iran. Applies such provisions to: (1) financial transactions begun on or after the date of the enactment of this Act, and (2) financial transactions for petroleum or petroleum product purchases through the Bank begun 180 days or more after the date of the enactment of this Act. Authorizes the President to waive such sanctions for reasons of national security.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 22 November 2011

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 22 November 2011

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 22 November 2011

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.