Maximum Pressure Act

Bill: 117-hr-2718
Sponsor: Rep. Banks, Jim [R-IN-3]
Introduced: 2021-04-21 in the House
Policy area: International Affairs
Subjects: Administrative law and regulatory procedures
Afghanistan
Arms control and nonproliferation
Asia
Bank accounts, deposits, capital
Business ethics
Computer security and identity theft
Congressional oversight
Corporate finance and management
Detention of persons
Diplomacy, foreign officials, Americans abroad
Financial services and investments
Foreign and international banking
Foreign and international corporations
Foreign property
Fraud offenses and financial crimes
Government ethics and transparency, public corruption
Government information and archives
Government studies and investigations
Human rights
International law and treaties
International monetary system and foreign exchange
International organizations and cooperation
Iran
Iraq
Israel
Latin America
Lebanon
Legislative rules and procedure
Licensing and registrations
Marine and inland water transportation
Middle East
Military assistance, sales, and agreements
Militias and paramilitary groups
Navigation, waterways, harbors
Nuclear weapons
Palestinians
Presidents and presidential powers, Vice Presidents
Protest and dissent
Sanctions
Saudi Arabia
Securities
Sovereignty, recognition, national governance and status
Syria
Technology transfer and commercialization
Terrorism
Trade restrictions
U.S. and foreign investments
United Arab Emirates
Venezuela
Visas and passports
War and emergency powers
Yemen

Summary:
action_date: 2021-04-21
text: 

Maximum Pressure Act

 
This bill expands sanctions and economic penalties on Iran. It also restricts the President from unilaterally lifting or waiving the sanctions or penalties and increases congressional oversight of them.
 
Specifically, the bill requires the President to impose visa- and asset-blocking sanctions. Additionally, it modifies existing sanctions, including by (1) providing statutory authority for executive orders imposing sanctions; (2) applying sanctions to additional sectors of Iran's economy; and (3) broadening sanctionable conduct to cover, for example, assisting Iran with the acquisition of ballistic missiles and the complicity of Iranian officials in human rights violations in specified countries. The bill also requires reporting on licenses that authorize activities subject to sanctions.
 
The bill prohibits U.S. representatives at the International Monetary Fund from voting to allow Iran's access to special drawing rights (a currency support tool) and places restrictions on financial transactions with Iran. The restrictions include requiring domestic financial institutions to implement special measures with respect to foreign financial institutions that conduct significant transactions connected to the Instrument in Support of Trade Exchanges (a European mechanism that bypasses U.S. sanctions when carrying out trade with Iran).
 
The Department of State must maintain the Islamic Revolutionary Guard Corps' designation as a terrorist organization and must designate Ansharallah (or Houthis), which operates in Syria, as a foreign terrorist organization.
 
The bill also requires reports on U.S. sanctions concerning Iran, the status of Iran's nuclear weapons program, and other matters.


Legislative actions:
action_date: 2021-10-19
text: Referred to the Subcommittee on Immigration and Citizenship.
action_date: 2021-04-21
text: Referred to the Subcommittee on Trade.
action_date: 2021-04-21
text: Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, the Judiciary, Oversight and Reform, Ways and Means, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2021-04-21
text: Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, the Judiciary, Oversight and Reform, Ways and Means, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2021-04-21
text: Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, the Judiciary, Oversight and Reform, Ways and Means, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2021-04-21
text: Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, the Judiciary, Oversight and Reform, Ways and Means, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2021-04-21
text: Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, the Judiciary, Oversight and Reform, Ways and Means, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2021-04-21
text: Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, the Judiciary, Oversight and Reform, Ways and Means, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2021-04-21
text: Introduced in House
action_date: 2021-04-21
text: Introduced in House