Bill113th Congress

S. 892

Iran Sanctions Loophole Elimination Act of 2013

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Introduced
May 8, 2013
Origin Chamber
Senate
Policy Area
International Affairs
Latest Action
May 21, 2013

Sponsor

Sen. Kirk, Mark Steven [R-IL]

Republican·IL
Bioguide ID: K000360
First Name: MARK
Middle Name: STEVEN
Last Name: KIRK
By Request: N
31
Cosponsors
1
Committees
3
Actions
0
Amendments
0
Related Bills
6
Subjects
1
Summaries
3
Titles
1
Text Versions

Bill Details

Update Date
Jan 11, 2023
Origin Chamber
Senate
Bill Type
S
Bill Number
892
Congress
113
Introduced Date
May 8, 2013
Policy Area
International Affairs
Is Law
No
May 21, 2013Committee

Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 113-42.

Source: Senate

May 8, 2013IntroReferral

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Source: Senate

May 8, 2013IntroReferral10000

Introduced in Senate

Source: Library of Congress

Introduced in Senate· May 8, 20130

Iran Sanctions Loophole Elimination Act of 2013 - Amends the Iran Threat Reduction and Syria Human Rights Act of 2012 to direct 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 is a person described in this Act.

Describes such person as a person that on or after May 9, 2013, knowingly: (1) conducted or facilitated a significant transaction involving the currency of a country other than the country in which the person is operating with, for, or on behalf of the Central Bank of Iran or another Iranian financial institution designated by the Secretary of the Treasury for the imposition of sanctions, or a person that is involved in the energy, shipping, and shipbuilding sectors of Iran; or (2) transferred funds for, or held funds on behalf of, a person described in the previous paragraph in relation to a transaction without regard to the currency of such funds.

Authorizes the President to impose sanctions pursuant to the International Emergency Economic Powers Act with respect to any other person.

Authorizes the President to waive the provisions of this Act with respect to a person for up to 180 days (and authorizes renewal of such waiver for additional periods of up to 180 days) for reasons of U.S. national security. Requires congressional notification at least seven days prior to a waiver or waiver renewal.

Banking, Housing, and Urban Affairs Committee

Senate· Standing
Foreign and international bankingInternational monetary system and foreign exchangeIranMiddle EastSanctionsWar and emergency powers

Introduced in Senate

May 8, 2013

Iran Sanctions Loophole Elimination Act of 2013 — Informed