Revoke Iranian Funding Act of 2023

This bill freezes $6,000,000,000 of Iranian funds held in Qatar and rescinds related licenses and waivers. It also requires a report on Iranian assets and licenses.

Sec. 3, Rescission of license authority with respect to Iranian accounts in Qatar: The Secretary of the Treasury must rescind any general or specific license, action letter, comfort letter, statement of licensing policy, answers to frequently asked questions, or other exemption from sanctions under a covered provision of law that was issued for humanitarian purposes regarding accounts held by the Government of Iran or a covered person in Qatar, including the $6,000,000,000 transferred from South Korea in September 2023. Also, any authority to issue such exemptions for humanitarian purposes for those accounts is rescinded for one year after enactment.

Sec. 4, Rescission of waiver determination issued on September 8, 2023: The waiver determination issued by the Secretary of State on September 8, 2023, under covered waiver authority and submitted to Congress on September 11, 2023, is rescinded.

Sec. 5, Report and briefing on Iranian assets and licenses: Within 30 days after enactment, the Secretary of the Treasury must submit a report and provide a briefing to the appropriate congressional committees identifying all assets of the Government of Iran or covered persons valued at more than $5,000,000 that are blocked by the United States, including the country, financial institution, and approximate value of each asset. The report and briefing must also list all general licenses, specific licenses, action letters, comfort letters, statements of licensing policy, answers to frequently asked questions, or other exemptions issued by the Secretary regarding sanctions on Iran that are in effect. The asset information must be unclassified; the exemption list must be classified.

Sec. 6, Definitions: Defines 'appropriate congressional committees' as the Senate Committee on Banking, Housing, and Urban Affairs and the House Committee on Financial Services. Defines 'covered person' as an Iranian citizen or national acting for the Government of Iran, an entity organized under Iranian law or subject to Iranian jurisdiction, or an individual or entity that provides material, tactical, operational, developmental, or financial support to the Islamic Revolutionary Guard Corps, any agency or instrumentality of Iran's armed forces or nuclear program, or any organization designated as a foreign terrorist organization (including Hamas, Hezbollah, Palestinian Islamic Jihad, al-Qa'ida, and al-Shabaab). Defines 'covered provision of law' as section 1245 of the National Defense Authorization Act for Fiscal Year 2012 or section 1244 or 1247 of the Iran Freedom and Counter-Proliferation Act of 2012. Defines 'covered waiver authority' as the authority to waive sanctions under section 1245(d)(5) of the National Defense Authorization Act for Fiscal Year 2012 or section 1244(i) or 1247(f) of the Iran Freedom and Counter-Proliferation Act of 2012.