[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 3527 Introduced in Senate (IS)]

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118th CONGRESS
  1st Session
                                S. 3527

To prohibit the Secretary of the Treasury from engaging in transactions 
    involving the exchange of Special Drawing Rights issued by the 
 International Monetary Fund that are held by the Islamic Republic of 
                     Iran, and for other purposes.


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                   IN THE SENATE OF THE UNITED STATES

                           December 14, 2023

   Mr. Scott of Florida (for himself and Mr. Manchin) introduced the 
 following bill; which was read twice and referred to the Committee on 
                           Foreign Relations

_______________________________________________________________________

                                 A BILL


 
To prohibit the Secretary of the Treasury from engaging in transactions 
    involving the exchange of Special Drawing Rights issued by the 
 International Monetary Fund that are held by the Islamic Republic of 
                     Iran, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Iran SDR Exchange Prohibition Act of 
2023''.

SEC. 2. SPECIAL DRAWING RIGHTS EXCHANGE PROHIBITION.

    (a) In General.--The Secretary of the Treasury may not engage in 
any transaction involving the exchange of Special Drawing Rights issued 
by the International Monetary Fund and held by the Islamic Republic of 
Iran.
    (b) Advocacy.--The Secretary of the Treasury shall--
            (1) vigorously advocate that the government of each member 
        country of the International Monetary Fund, to the extent that 
        the member country issues a freely usable currency, prohibit 
        transactions involving the exchange of Special Drawing Rights 
        held by the Islamic Republic of Iran; and
            (2) direct the United States Executive Director of the 
        International Monetary Fund to use the voice and vote of the 
        United States to oppose any allocation of Special Drawing 
        Rights to the Islamic Republic of Iran.
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