S. 3527 · 118th Congress
Iran SDR Exchange Prohibition Act of 2023
- Stage
- In committee
- Sponsor
- Rick Scott
- Introduced
- 2023-12-14
- Latest action
- 2023-12-14 · Introduced in Senate
Summary
Iran SDR Exchange Prohibition Act of 2023
This bill prohibits the Department of the Treasury from engaging in transactions involving Special Drawing Rights (SDR) issued by the International Monetary Fund (IMF) and held by Iran. (The SDR is an international reserve asset maintained by the IMF based on contributions from IMF member countries. SDRs may be exchanged between member countries and may also be exchanged for currencies.)
Treasury must (1) vigorously advocate that each member of the IMF prohibit transactions of SDRs held by Iran, and (2) direct U.S. representatives to the IMF to use the voice and vote of the United States to oppose any SDR allocation to Iran.