A bill to provide that, if the American hostages in Iran are not released, certain amounts of blocked Iranian assets will be vested in the United States Government, to provide for the payment of claims against the Iranian Government from those assets, and for other purposes.

Vests specified portions of the blocked Iranian assets in the United States if the hostages in Iran are not returned to the United States within ten days of enactment of this Act. Prohibits the release of such assets until all U.S. Claims against Iran have been paid. Specifies that U.S. claims be paid, first, from the accrued interest on such assets and, second, from the daily fine imposed until the hostages are returned. Provides for any remaining amounts to be distributed to those less developed countries suffering economic hardship resulting from the increasing costs of imported oil, unless Congress disapproves.