This bill would require the Treasury Dept. to provide Congress with a report on assets held by the leadership of Iran’s government. The initial report would be due within 270 days of the bill’s enactment, and subsequent reports would be required for each of the next two years. The unclassified portion of the report would be made publicly available and posted on Treasury’s website in downloadable English, Farsi, Arabic, and Azeri versions.
Specifically, the report would include information on:
The funds or assets held in U.S. and foreign financial institutions that are directly or indirectly controlled by specified Iranian officials;
Any equity stake such official has in an entity on Treasury’s list of Specially Designated Nationals or in any other sanctioned entity;
How such funds, assets, or equity interests were acquired and used;
New methods used to evade anti-money laundering and related laws, including recommendations to improve techniques to combat illicit uses of the U.S. financial system by each such official;
Recommendations for revising U.S. economic sanctions against Iran to prevent Iranian officials from using funds or assets to develop and procure ballistic missile technology;
How Treasury assesses the effectiveness of U.S. economic sanctions against Iran;
Recommendations for improving Treasury’s ability to develop and enforce additional economic sanctions against Iran if so ordered by the president.