- Not enactedThe President has not signed this bill
- The house has not voted
- The senate has not voted
Senate Committee on Banking, Housing, and Urban AffairsIntroducedMay 21st, 2013
- senate Committees
Bill DetailsOfficial information provided by the Congressional Research Service. Learn more or make a suggestion.
The Congressional Research Service writes summaries for most legislation. These summaries are listed here. Countable will update some legislation with a revised summary, title or other key elements.
Iran Export Embargo Act
A bill to impose sanctions with respect to the Government of Iran.
Iran Export Embargo Act - Amends the Iran Freedom and Counter-Proliferation Act of 2012 to direct the President to prohibit all transactions in property and property interests of a person (as defined in this Act) if such property and property interests are in the United States or within the possession or control of a U.S. individual. Directs the President to prohibit the opening, and prohibit or impose strict conditions on the maintaining, in the United States of a correspondent account or a payable-through account by a foreign financial institution that has knowingly conducted or facilitated a significant transaction with respect to the importation, sale, or transfer of goods or services from Iran on behalf of a described person. Directs the President to impose sanctions pursuant to the International Emergency Economic Powers Act with respect to an individual that knowingly: (1) imports, purchases, or transfers goods or services from a described person; and (2) provides underwriting services or insurance or reinsurance to a described person. Describes a "person" as: (1) the state and the government of Iran, or any political subdivision, agency, or instrumentality of such government, including the Central Bank of Iran; (2) any person owned or controlled by, or acting for or on behalf of, such government; or (3) any other person determined by the President to be described in clauses (1) or (2).