Treasury would have to give Congress a report on powerful Iranian figures and major state-linked companies within 180 days. The report would map their wealth, ownership, and ties to U.S. financial sectors, and estimate what stronger sanctions might do. The bill itself does not impose new sanctions.
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Stop Corrupt Iranian Oligarchs and Entities Act is a House bill in committee. The latest recorded action: Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Latest action on H.R. 348: Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Who this affects: This bill mainly affects U.S. policymakers who make sanctions and foreign policy decisions, because it gives them a deeper picture of powerful Iranian people and major state-linked firms. It also matters to banks, investors, insurers, and real estate businesses that could be reviewed for exposure to Iranian actors. Iranian elites, their close family members, and covered companies could face more scrutiny, even though the bill does not directly punish them.
Why this matters: This matters because Congress could use this report to shape future sanctions on powerful Iranian figures and large state-linked companies. Right now, policymakers may not have one clear picture of who holds wealth and power, how those people and firms connect to global business, and where U.S. markets may be exposed. The bill is meant to fill that gap. Its real-world effect depends on whether the United States later acts on the report with new sanctions or investment limits.
You do not have to start with a blank letter. Modern Action turns the bill, your position, and the relevant congressional context into a message you can edit and send. The goal is to make contacting Congress clear, specific, and useful without forcing you to parse bill text or figure out the right office on your own.
