HR6015-118

What This Bill Does
This bill tightens oversight of Iran sanctions exemptions to ensure they cannot be exploited to fund terrorism or weapons of mass destruction programs. It requires the President to issue regulations within 180 days ensuring exempted transactions don't facilitate these prohibited activities, and directs the Treasury Secretary to vote against any World Bank financial assistance to Iran.

Who Benefits and How
U.S. counter-terrorism and non-proliferation efforts benefit from closed loopholes in sanctions exemptions. Countries and companies trading with Iran gain clarity on what transactions remain permissible. National security agencies get biennial reports evaluating whether regulations are working effectively.

Who Bears the Burden and How
Iran's government faces stronger U.S. opposition at the World Bank and tighter scrutiny of sanctions exemption transactions. Countries and businesses using humanitarian exemptions face new regulations ensuring funds don't facilitate terrorism or WMD proliferation. The President must issue regulations within 180 days and report to Congress every 2 years for 6 years.

Key Provisions
- President must issue regulations within 180 days on sanctions exemptions
- Regulations must prevent exempted transactions from facilitating terrorism or WMD
- Biennial reports to Congress evaluating regulation effectiveness (for 6 years)
- U.S. Executive Director at World Bank must oppose Iran financial assistance
- World Bank opposition expires after 7 years or if Iran stops supporting terrorism
- Clarifies that sanctions can still be imposed on exempted transactions if they facilitate prohibited activities