# What This Bill Actually Does

This bill requires the U.S. government to investigate and report on wealthy and powerful people in Iran who are connected to the government, as well as large Iranian state-owned businesses. Think of it as ordering a detailed intelligence report on Iran's corrupt elite and their financial networks. The Treasury Department, working with intelligence agencies and the State Department, has six months to compile this information and deliver it to Congress.

The report needs to identify Iran's most significant oligarchs—wealthy individuals close to the Iranian government—and estimate their net worth. It should also map out their connections to Iran's ruling leaders, look for signs of corruption, and trace where their money comes from. The government also needs to identify any business dealings these oligarchs have outside Iran, including their family members' financial interests. Similarly, the bill requires investigation of major Iranian state-owned or state-controlled companies (those at least 25 percent owned by the Iranian government with revenues over $2 billion), including who runs them and what international business connections they have.

Beyond just gathering information, the report must assess how exposed American financial sectors are to these Iranian oligarchs and state-owned enterprises. It should also analyze what would happen if the U.S. imposed additional financial restrictions or sanctions against these individuals and companies—essentially weighing the potential consequences for Iran's economy, the U.S. economy, and our allies. The report will be made public, though it can include classified details in a separate section that Congress can review privately.

In practical terms, this bill doesn't immediately impose new sanctions or restrictions. Instead, it's a fact-finding mission that gives Congress the information it needs to decide whether to take stronger action against Iranian corruption and state-controlled businesses in the future.

Stop Corrupt Iranian Oligarchs and Entities Act

Kustoff, David

Stop Corrupt Iranian Oligarchs and Entities Act This bill directs the Department of the Treasury to report to Congress on Iranian individuals and parastatal entities&nbsp;that have&nbsp;close relationships with the Iranian government. The report must include information regarding (1) their known sources of income, (2) their indices of corruption, (3) their involvement in key U.S. economic sectors, (4) the structures and ownership of the parastatal groups, and (5) the potential effects of imposing sanctions on these entities and individuals. For the purposes of this bill, an Iranaian parastatal entity is one (1) in which Iranian state ownership is at least 25%, and (2) that had revenues of at least $2 billion in 2016.