I 
★
112TH CONGRESS 
1ST SESSION H. R. 3439 
To require the President to impose sanctions on foreign financial institutions 
that conduct transactions with the Central Bank of Iran if the President 
determines that the Central Bank of Iran has engaged in certain trans-
actions relating to the proliferation of chemical, biological, or nuclear 
weapons or support for acts of international terrorism. 
IN THE HOUSE OF REPRESENTATIVES 
NOVEMBER 16, 2011 
Mr. FLAKE (for himself and Mr. MCINTYRE) introduced the following bill; 
which was referred to the Committee on Foreign Affairs, and in addition 
to the Committee on Financial Services, for a period to be subsequently 
determined by the Speaker, in each case for consideration of such provi-
sions as fall within the jurisdiction of the committee concerned 
A BILL 
To require the President to impose sanctions on foreign 
financial institutions that conduct transactions with the 
Central Bank of Iran if the President determines that 
the Central Bank of Iran has engaged in certain trans-
actions relating to the proliferation of chemical, biologi-
cal, or nuclear weapons or support for acts of inter-
national terrorism. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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HR 3439 IH1S 
SECTION 1. IMPOSITION OF SANCTIONS ON FOREIGN FI-
NANCIAL 
INSTITUTIONS 
THAT 
CONDUCT 
TRANSACTIONS OF THE CENTRAL BANK OF 
IRAN. 
Section 104 of the Comprehensive Iran Sanctions, 
Accountability, and Divestment Act of 2010 (22 U.S.C. 
8513) is amended— 
(1) by redesignating subsections (h) and (i) as 
subsections (i) and (j), respectively; and 
(2) by inserting after subsection (g) the fol-
lowing new subsection: 
‘‘(h) IMPOSITION OF SANCTIONS ON FOREIGN FI-
NANCIAL INSTITUTIONS THAT CONDUCT TRANSACTIONS 
OF THE CENTRAL BANK OF IRAN.— 
‘‘(1) DETERMINATION REQUIRED.— 
‘‘(A) IN
GENERAL.—Not later than 30 
days after the date of the enactment of this 
subsection, 
the 
President 
shall 
determine 
whether the Central Bank of Iran has— 
‘‘(i) provided financial services in sup-
port of, or otherwise facilitated, the ability 
of Iran to— 
‘‘(I) acquire or develop chemical, 
biological, or nuclear weapons, or re-
lated technologies; 
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HR 3439 IH1S 
‘‘(II) construct, equip, operate, or 
maintain nuclear enrichment facilities; 
or 
‘‘(III) acquire or develop ballistic 
missiles, cruise missiles, or desta-
bilizing types and amounts of conven-
tional weapons; or 
‘‘(ii) facilitated a transaction or pro-
vided financial services for— 
‘‘(I) Iran’s Revolutionary Guard 
Corps; or 
‘‘(II) 
a 
financial 
institution 
whose property or interests in prop-
erty are subject to sanctions imposed 
pursuant to the International Emer-
gency Economic Powers Act (50 
U.S.C. 1701 et seq.) in connection 
with— 
‘‘(aa) Iran’s proliferation of 
weapons of mass destruction or 
delivery systems for weapons of 
mass destruction; or 
‘‘(bb) Iran’s support for acts 
of international terrorism. 
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HR 3439 IH1S 
‘‘(B) SUBMISSION
TO
CONGRESS.—The 
President shall submit in writing to the appro-
priate congressional committees the determina-
tion made under subparagraph (A) and the rea-
sons for the determination. 
‘‘(2) IMPOSITION OF SANCTIONS.—If the Presi-
dent determines under paragraph (1)(A) that the 
Central Bank of Iran has engaged in an activity de-
scribed in that paragraph, the President shall imme-
diately— 
‘‘(A) prohibit the opening or maintaining 
in the United States of a correspondent account 
or a payable-through account by a foreign fi-
nancial institution that the President deter-
mines has knowingly conducted any financial 
transaction with the Central Bank of Iran; and 
‘‘(B) freeze and prohibit all transactions in 
all property and interests in property of each 
such foreign financial institution if such prop-
erty and interests in property are in the United 
States, come within the United States, or come 
within the possession or control of a United 
States person. 
‘‘(3) APPLICABILITY.— 
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