II 

118TH CONGRESS 

1ST SESSION S. 3049 

To freeze $6,000,000,000 of Iranian funds held in Qatar, and for other 

purposes. 

IN THE SENATE OF THE UNITED STATES 

OCTOBER 17, 2023 

Mr. SCOTT of South Carolina (for himself, Mr. CRAPO, Mr. BARRASSO, Mr. 

CRAMER, Mr. HOEVEN, Mr. VANCE, Ms. LUMMIS, Mr. RICKETTS, Mrs. 

FISCHER, Mr. HAGERTY, Mr. SCOTT of Florida, Mrs. BRITT, Mr. TILLIS, 

Mr. RUBIO, Mrs. CAPITO, Mr. COTTON, Mr. CORNYN, Mrs. BLACKBURN, 

Mr. DAINES, Mr. GRAHAM, Mr. BRAUN, Mr. CASSIDY, Ms. SINEMA, Mr. 

ROUNDS, Mr. LANKFORD, Ms. COLLINS, and Mr. MANCHIN) introduced 

the following bill; which was read twice and referred to the Committee 

on Banking, Housing, and Urban Affairs 

A BILL 

To freeze $6,000,000,000 of Iranian funds held in Qatar, 

and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Revoke Iranian Fund5 ing Act of 2023’’. 

6 SEC. 2. SENSE OF CONGRESS. 

7 It is the sense of Congress that— 

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1 (1) Iran, as documented by the report of the 

2 Department of State entitled, ‘‘Country Reports on 

3 Terrorism 2021’’, is the leading state sponsor of ter4 rorism in the world; 

5 (2) Hamas has repeatedly carried out acts of 

6 terror against Israel, citizens of the United States, 

7 and innocent civilians, including the October 2023 

8 assault against Israel that resulted in the brutal 

9 murder of innocent men, women, and children; 

10 (3) given the fungible nature of money, funds 

11 released to Iran for so-called humanitarian purposes 

12 cannot be reliably prevented from funding future 

13 terrorist attacks, especially when the Government of 

14 Iran has explicitly acknowledged their willingness to 

15 use any and all monetary gains to support the ide16 ology of their regime; and 

17 (4) in the face of this reality, the United States 

18 Government should consider every available tool to 

19 immediately restrict access by Iran to any and all 

20 funds that are used to finance international ter21 rorism. 

22 SEC. 3. RESCISSION OF LICENSE AUTHORITY WITH RE23 SPECT TO IRANIAN ACCOUNTS IN QATAR. 

24 Effective on the date of the enactment of this Act— 

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1 (1) the Secretary of the Treasury shall rescind 

2 any general license, specific license, action letter, 

3 comfort letter, statement of licensing policy, answers 

4 to frequently asked questions, or other exemption 

5 from the imposition of sanctions under a covered 

6 provision of law purportedly for humanitarian pur7 poses, such as the $6,000,000,000 transferred from 

8 South Korea in September 2023, with respect to ac9 counts held by the Government of Iran or a covered 

10 person in Qatar issued before such date of enact11 ment; and 

12 (2) any authority provided to the Secretary of 

13 the Treasury to issue, purportedly for humanitarian 

14 purposes, a general license, specific license, action 

15 letter, comfort letter, statement of licensing policy, 

16 answers to frequently asked questions, or other ex17 emption from the imposition of sanctions under a 

18 covered provision of law with respect to accounts 

19 held by the Government or Iran or a covered person 

20 in Qatar is rescinded for the one-year period fol21 lowing the date of the enactment of this Act. 

22 SEC. 4. RESCISSION OF WAIVER DETERMINATION ISSUED 

23 ON SEPTEMBER 8, 2023. 

24 Effective on the date of the enactment of this Act, 

25 the waiver determination issued by the Secretary of State 

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1 on September 8, 2023, under covered waiver authority and 

2 submitted to Congress on September 11, 2023, is re3 scinded. 

4 SEC. 5. REPORT AND BRIEFING ON IRANIAN ASSETS AND 

5 LICENSES. 

6 (a) IN GENERAL.—Not later than 30 days after the 

7 date of the enactment of this Act, the Secretary of the 

8 Treasury shall submit to the appropriate congressional 

9 committees a report and provide to the appropriate con10 gressional committees a briefing— 

11 (1) identifying— 

12 (A) all assets of the Government of Iran or 

13 covered persons valued at more than 

14 $5,000,000 and blocked by the United States 

15 pursuant to any provision of law; and 

16 (B) for each such asset— 

17 (i) the country in which the asset is 

18 held; 

19 (ii) the financial institution in which 

20 the asset is held; and 

21 (iii) the approximate value of the 

22 asset; and 

23 (2) setting forth a list of all general licenses, 

24 specific licenses, action letters, comfort letters, state25 ments of licensing policy, answers to frequently 

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1 asked questions, or other exemptions issued by the 

2 Secretary with respect to sanctions relating to Iran 

3 that are in effect as of the date of the report. 

4 (b) FORM.— 

5 (1) ASSETS.—The report and briefing required 

6 by subsection (a)(1) shall be submitted or provided, 

7 as the case may be, in unclassified form. 

8 (2) EXEMPTIONS.—The report and briefing re9 quired by subsection (a)(2) shall be submitted or 

10 provided, as the case may be, in classified form. 

11 SEC. 6. DEFINITIONS. 

12 In this Act: 

13 (1) APPROPRIATE CONGRESSIONAL COMMIT14 TEES.—The term ‘‘appropriate congressional com15 mittees’’ means— 

16 (A) the Committee on Banking, Housing, 

17 and Urban Affairs of the Senate; and 

18 (B) the Committee on Financial Services 

19 of the House of Representatives. 

20 (2) COVERED PERSON.—The term ‘‘covered 

21 person’’ means— 

22 (A) an individual who is a citizen or na23 tional of Iran and is acting on behalf of the 

24 Government of Iran; 

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1 (B) an entity organized under the laws of 

2 Iran or otherwise subject to the jurisdiction of 

3 the Government of Iran; and 

4 (C) an individual or entity that provides 

5 material, tactical, operational, developmental, or 

6 financial support to— 

7 (i) the Islamic Revolutionary Guard 

8 Corps; 

9 (ii) any agency or instrumentality of 

10 the Armed Forces of Iran; 

11 (iii) any agency or instrumentality re12 lated to the nuclear program of Iran; or 

13 (iv) any organization designated as a 

14 foreign terrorist organization under section 

15 219 of the Immigration and Nationality 

16 Act (8 U.S.C. 1189), including Hamas, 

17 Hezbollah, Palestinian Islamic Jihad, al18 Qa’ida, and al-Shabaab. 

19 (3) COVERED PROVISION OF LAW.—The term 

20 ‘‘covered provision of law’’ means— 

21 (A) section 1245 of the National Defense 

22 Authorization Act for Fiscal Year 2012 (22 

23 U.S.C. 8513a); or 

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1 (B) section 1244 or 1247 of the Iran Free2 dom and Counter-Proliferation Act of 2012 (22 

3 U.S.C. 8803 and 8806). 

4 (4) COVERED WAIVER AUTHORITY.—The term 

5 ‘‘covered waiver authority’’ means the authority to 

6 issue a waiver of the requirement to impose sanc7 tions under— 

8 (A) section 1245(d)(5) of the National De9 fense Authorization Act for Fiscal Year 2012 

10 (22 U.S.C. 8513a(d)(5)); or 

11 (B) section 1244(i) or 1247(f) of the Iran 

12 Freedom and Counter-Proliferation Act of 2012 

13 (22 U.S.C. 8803(i) and 8806(f)). 

Æ