A bill to prohibit the Secretary of the Treasury from engaging in transactions involving the exchange of Special Drawing Rights issued by the International Monetary Fund that are held by the Islamic Republic of Iran, and for other purposes.
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.
Referred to the House Committee on Financial Services.
Introduced in Senate
Read twice and referred to the Committee on Foreign Relations.
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