# What This Bill Actually Does

This bill requires the U.S. Treasury Department to investigate and report on wealthy and powerful people in Iran who are connected to the government, as well as large Iranian state-owned companies. Think of it as ordering a detailed investigation into who's really running Iran's economy and how they're making their money. The Treasury Department has six months to complete this report and must work with U.S. intelligence agencies and the State Department to gather the information.

The report needs to identify Iran's most significant oligarchs—basically the ultra-wealthy individuals with close ties to Iran's ruling elite—and figure out how much they're worth and where their money comes from. It also needs to look at their family members' income sources and any business dealings they have outside Iran. For the large Iranian state-owned companies (those where the government owns at least 25 percent and had revenues of around $2 billion or more in 2016), the report must examine who runs them, who actually owns them, and what international business connections they have.

The bill also asks the Treasury Department to assess how much exposure American banks, investment firms, insurance companies, and real estate markets have to these Iranian oligarchs and state companies. Additionally, the report must analyze what would happen if the U.S. imposed new financial restrictions or sanctions on these individuals and entities—essentially predicting the economic consequences for Iran, the U.S., and American allies.

For most Americans, this bill doesn't directly change anything in daily life. It's primarily a fact-finding mission that Congress wants completed so lawmakers can make informed decisions about whether to impose additional financial penalties on Iran's wealthy elite and state-controlled businesses. The report will be made public, though it can include classified information in a separate section.

Stop Corrupt Iranian Oligarchs and Entities Act

Kustoff, David

Stop Corrupt Iranian Oligarchs and Entities ActThis bill directs the Department of the Treasury to report to Congress on certain individuals&nbsp;and entities&nbsp;in Iran that have&nbsp;close relationships with the Iranian government. The report must include specified information, including (1) identifying senior foreign political figures and oligarchs in Iran, their known sources of income, and their non-Iranian business affiliations; (2) assessing the emergence of parastatal entities and their leadership structure; and (3) the potential effects of imposing sanctions or debt and equity restrictions on such oligarchs, parastatal entities, or Iranian state-owned enterprises.For the purposes of this bill, an Iranian parastatal entity is one in which Iranian state ownership is at least 25% and that had revenues of at least $2 billion in 2016.