H.R. 5961 explained · 118th Congress · Not enacted (118th Congress ended)
No Funds for Iranian Terrorism Act
Cosponsors: 34 (0 D, 34 R) · per Congress.gov, 2026-10-11
Introduced: 2023-10-16
Latest action (2023-12-04): Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
What H.R. 5961 does, in plain terms
No Funds for Iranian Terrorism Act This bill requires the President to impose property-blocking sanctions on foreign financial institutions and international financial institutions that process, participate in, or facilitate a transaction involving certain Iranian funds (namely, the approximately $6 billion of Iranian funds that the Biden administration permitted to be transferred from restricted accounts in South Korea to restricted accounts in Qatar to facilitate the release of five U.S. citizens detained in Iran).
Official summary by the Congressional Research Service, via Congress.gov.
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