Section 1 Short title
This Act may be cited as the “No Dollars for Iran Act”.
No Dollars for Iran Act
A BILL
To prohibit the Department of the Treasury from issuing licenses to permit offshore dollar clearing outside of the United States financial system for transactions involving or benefitting Iran.
Sec. 2 Prohibition on certain licenses for offshore dollar clearing related to Iran
The Secretary of the Treasury may not issue any license under the Iranian Transactions and Sanctions Regulations (31 C.F.R. Part 560), or under any other law, to permit a person to conduct offshore dollar clearing outside of the United States financial system for transactions involving or benefitting, directly or indirectly, the government of Iran or any Iranian person.