H.R.348 - Stop Corrupt Iranian Oligarchs and Entities Act (119th Congress)
Summary
H.R.348, the "Stop Corrupt Iranian Oligarchs and Entities Act," mandates a report on Iranian oligarchs and parastatal entities. The report, to be prepared by the Secretary of the Treasury in consultation with the Director of National Intelligence and the Secretary of State, will identify significant political figures, assess their relationships with the Iranian government, and detail their financial activities.
The bill also requires an assessment of Iranian parastatal entities, their role in Iran's economy, and their connections to the United States' key economic sectors. It further explores the potential effects of imposing debt and equity restrictions and sanctions on these entities and individuals.
The ultimate goal is to understand and potentially counteract the influence of corrupt Iranian actors on the global stage, particularly concerning their impact on the US economy.
Expected Effects
This bill aims to increase transparency regarding the financial activities of Iranian oligarchs and parastatal entities. The report could lead to further sanctions and restrictions on these individuals and entities.
This could impact their ability to operate internationally and potentially disrupt their financial networks. It may also influence US foreign policy and economic relations with Iran.
Potential Benefits
- Increased transparency regarding Iranian financial activities.
- Potential for stronger sanctions against corrupt actors.
- Protection of US economic sectors from illicit Iranian influence.
- Improved understanding of Iranian economic structures.
- Support for efforts to combat corruption and illicit finance.
Most Benefited Areas:
Potential Disadvantages
- Potential for unintended economic consequences for the US and its allies.
- Risk of escalating tensions with Iran.
- Possible inaccuracies in the report leading to unfair targeting.
- The report's findings might be used for political purposes.
- Limited direct impact on the lives of average Americans.
Constitutional Alignment
While the bill itself doesn't directly implicate specific constitutional provisions, its implementation must adhere to constitutional principles. For example, any sanctions or restrictions imposed as a result of the report must respect due process and not infringe on protected rights.
The power to regulate commerce with foreign nations is vested in Congress (Article I, Section 8), and the President has broad authority over foreign policy. The bill appears to fall within these established powers.
However, the specific actions taken based on the report would need to be carefully scrutinized to ensure they comply with constitutional limitations.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).