The legislation has 21 Republican co-sponsors.
Sen. Tim Scott’s bill would restrict the ability of the Treasury and State departments to loosen sanctions for the Iranian funds. | Michael M. Santiago/Getty Imagesthat would stop Iran from accessing $6 billion made available in exchange for the release of American prisoners, as lawmakers scrambled to sharpen the U.S. response to the Israel-Hamas war.
Scott’s bill would restrict the ability of the Treasury and State departments to loosen sanctions for the Iranian funds. It would also direct the Treasury Department to report to Congress on other Iranian assets blocked by U.S. sanctions.The Scott bill’s backers see it as complementary to the Cotton-McConnell legislation. to hold a hearing with Treasury Secretary Janet Yellen on Iran sanctions.
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