HR 6015
Stop Evasion of Iran Sanctions Act of 2020
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Stop Evasion of Iran Sanctions Act of 2020, gives the Treasury Secretary the authority to impose stricter rules and reporting requirements on U.S. financial institutions if they are linked to INSTEX, a European initiative designed to continue trade with Iran despite U.S. sanctions. The Secretary must provide a detailed report to Congress explaining the reasons for the action and its potential impact on the U.S. financial system and the use of the dollar. This legislation aims to prevent the circumvention of existing sanctions against Iran. The rules will sunset after seven years or when the President determines they are no longer in the national interest.
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Primary sponsor
Cosponsors
Denver Riggleman
Lee M. Zeldin
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