IB 
Union Calendar No. 334 
115TH CONGRESS 
1ST SESSION H. R. 4324 
[Report No. 115–452] 
To require the Secretary of the Treasury to make certifications with respect 
to United States and foreign financial institutions’ aircraft-related trans-
actions involving Iran, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
NOVEMBER 9, 2017 
Mr. WILLIAMS introduced the following bill; which was referred to the 
Committee on Financial Services 
DECEMBER 7, 2017 
Additional sponsors: Mr. BUDD, Mr. POLIQUIN, Mr. BARR, Ms. TENNEY, Mr. 
ZELDIN, Mr. THOMAS J. ROONEY of Florida, Mr. HUIZENGA, Mr. 
ALLEN, Mr. ARRINGTON, Mr. HARRIS, Mr. LAMALFA, and Mr. CARTER 
of Georgia 
DECEMBER 7, 2017 
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
[For text of introduced bill, see copy of bill as introduced on November 9, 2017] 
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A BILL 
To require the Secretary of the Treasury to make certifi-
cations with respect to United States and foreign finan-
cial institutions’ aircraft-related transactions involving 
Iran, and for other purposes. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Strengthening Oversight 
of Iran’s Access to Finance Act’’. 
SEC. 2. FINDINGS. 
The Congress finds the following: 
(1) Under the Joint Comprehensive Plan of Ac-
tion (JCPOA), informally known as the Iran nuclear 
deal, the Obama administration agreed to license the 
sale of commercial passenger aircraft to Iran, the 
world’s foremost state sponsor of terrorism and a ju-
risdiction of primary money laundering concern. 
(2) In April 2015, prior to the adoption of the 
JCPOA, Secretary of the Treasury Jacob Lew, in 
publicly advocating for its provisions, stated: ‘‘Make 
no mistake: deal or no deal, we will continue to use 
all our available tools, including sanctions, to counter 
Iran’s menacing behavior. Iran knows that our host 
of sanctions focused on its support for terrorism and 
its violations of human rights are not, and have never 
been, up for discussion.’’. 
(3) In March 2016 remarks to the Carnegie En-
dowment for International Peace, Secretary Lew, in 
reference to U.S. commitments under the JCPOA, 
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stated: ‘‘While we have lifted the nuclear sanctions, we 
continue to enforce sanctions directed at support for 
terrorism and regional destabilization, and missile 
and human rights violations.’’. 
(4) In an April 2016 forum at the Council on 
Foreign Relations, Secretary Lew stated that, under 
the JCPOA, the U.S. committed to lifting its nuclear 
sanctions, ‘‘but the U.S. financial system is not open 
to Iran, and that is not something that is going to 
change’’. 
(5) In September 2016, the Department of the 
Treasury’s Office of Foreign Assets Control (OFAC) 
issued licenses permitting the export of up to 97 air-
craft for use by Iran Air, the Islamic Republic of 
Iran’s flagship state-owned carrier. These licenses in-
cluded authorization for U.S. financial institutions 
‘‘to engage in all transactions necessary to provide fi-
nancing or other financial services’’ in order to effec-
tuate the sales. In November 2016, OFAC licensed an 
additional 106 aircraft for purchase by Iran Air, 
which are also eligible for financing authorized by 
OFAC. 
(6) The Department of the Treasury had sanc-
tioned Iran Air in 2011 for its use of commercial 
passenger aircraft to transport rockets, missiles, and 
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other military cargo on behalf of the Islamic Revolu-
tionary Guard Corps (IRGC) and Iran’s Ministry of 
Defense and Armed Forces Logistics, both of which 
had been designated under Executive Order 13382 for 
weapons proliferation-related activities. In October 
2017, the IRGC went on to be designated under Exec-
utive Order 13224 for its support of the IRGC-Qods 
Force, which has provided support to terrorist groups 
such as Hizballah, Hamas, and the Taliban. 
(7) Among Iran Air’s sanctionable activities, the 
airline delivered missile or rocket components to the 
Assad government in Syria, which like Iran is classi-
fied as a state sponsor of terrorism. 
(8) The Assad regime is responsible for a civil 
conflict that has claimed an estimated 400,000 lives, 
including through the government’s deployment of 
chemical weapons and barrel bombs against unarmed 
civilians and children. 
(9) Despite being delisted in 2016, Iran Air has 
continued to fly known weapons resupply routes to 
government-controlled areas of Syria. According to re-
search by the Foundation for Defense of Democracies, 
between Implementation Day of the JCPOA on Janu-
ary 16, 2016, and May 4, 2017, Iran Air operated at 
least 134 flights to Syria, which included stops in 
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