,,ii #aaeth ,,congress #ast ,session ,s4 #bafg ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,november #bh1 #bjag,mr4 ,cruz 7for himself and ,mr4 ,perdue7 introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to require the ,secretary of the ,treasury to make certifications with respect to ,united ,states and foreign financial institutions' aircraft-related transactions involving ,iran1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,strengthening ,oversight of ,iran's ,access to ,finance ,act4 #b4 ,findings ,the ,congress finds the following3 7#a7 ,under the ,joint ,comprehensive ,plan of ,action 7in this section referred to as the ,,jcpoa71 informally known as the ,iran nuclear deal1 the ,obama administration agreed to license the sale of commercial passenger aircraft to ,iran1 the world's foremost state sponsor of terrorism and a jurisdiction of primary money laundering concern4 7#b7 ,in ,april #bjae1 prior to the adoption of the ,,jcpoa1 ,secretary of the ,treasury ,jacob ,lew1 in publicly advocating for its provisions1 stated1 ,make no mistake3 deal or no deal1 we will continue to use all our available tools1 including sanctions1 to counter ,iran's menacing behavior4 ,iran knows that our host of sanctions focused on its support for terrorism and its violations of human rights are not1 and have never been1 up for discussion44 7#c7 ,in ,march #bjaf remarks to the ,carnegie ,endowment for ,international ,peace1 ,secretary ,lew1 in reference to ,united ,states commitments under the ,,jcpoa1 stated1 ,while we have lifted the nuclear sanctions1 we continue to enforce sanctions directed at support for terrorism and regional destabilization1 and missile and human rights violations44 7#d7 ,in an ,april #bjaf forum at the ,council on ,foreign ,relations1 ,secretary ,lew stated that1 under the ,,jcpoa1 the ,united ,states committed to lifting its nuclear sanctions1 but the ,u4,s4 financial system is not open to ,iran1 and that is not something that is going to change4 7#e7 ,in ,september #bjaf1 the ,department of the ,treasury's ,office of ,foreign ,assets ,control 7in this section referred to as ,,ofac7 issued licenses permitting the export of up to #ig aircraft for use by ,iran ,air1 the ,islamic ,republic of ,iran's flagship state-owned air carrier4 ,these licenses included authorization for ,united ,states financial institutions to engage in all transactions necessary to provide financing or other financial services in order to effectuate the sales4 ,in ,november #bjaf1 ,,ofac licensed an additional #ajf aircraft for purchase by ,iran ,air1 which are also eligible for financing authorized by ,,ofac4 7#f7 ,the ,department of the ,treasury had sanctioned ,iran ,air in #bjaa for its use of commercial passenger aircraft to transport rockets1 missiles1 and other military cargo on behalf of the ,islamic ,revolutionary ,guard ,corps 7in this section referred to as the ,,irgc7 and ,iran's ,ministry of ,defense and ,armed ,forces ,logistics1 both of which had been designated under ,executive ,order #acchb for weapons proliferation-related activities4 ,in ,october #bjag1 the ,,irgc went on to be designated under ,executive ,order #acbbd for its support of the ,,irgc-,qods ,force1 which has provided support to terrorist groups such as ,hizballah1 ,hamas1 and the ,taliban4 7#g7 ,among ,iran ,air's sanctionable activities1 the air carrier delivered missile or rocket components to the regime of ,bashar al-,assad in ,syria1 which like ,iran is classified as a state sponsor of terrorism4 7#h7 ,the ,assad regime is responsible for a civil conflict that has claimed an estimated #djj1jjj lives1 including through the regime's deployment of chemical weapons and barrel bombs against unarmed civilians and children4 7#i7 ,despite being delisted in #bjaf1 ,iran ,air has continued to fly known weapons resupply routes to government-controlled areas of ,syria4 ,according to research by the ,foundation for ,defense of ,democracies1 between ,implementation ,day of the ,,jcpoa on ,january #af1 #bjaf1 and ,may #d1 #bjag1 ,iran ,air operated at least #acd flights to ,syria1 which included stops in ,abadan1 ,iran1 a suspected ,,irgc logistical hub for airlifts to the ,assad regime4 7#aj7 ,in ,november #bjaf correspondence to the ,chairman of the ,committee on ,financial ,services of the ,house of ,representatives1 the ,department of the ,treasury noted that the commitment to delist ,iran ,air under the ,,jcpoa does not affect our ability to designate1 or re-designate1 any ,iranian airline that engages in sanctionable activity4 ,the ,united ,states retains the ability to designate any individual or entity that engages in sanctionable activities under our authorities targeting conduct outside the scope of the ,,jcpoa1 including ,iran's support for terrorism1 human rights abuses1 ballistic missile program1 and other destabilizing activities in the region44 7#aa7 ,in ,april #bjag1 ,iran announced a deal for ,aseman ,airlines to purchase up to #fj commercial aircraft1 a transaction that would require authorization by ,,ofac4 ,aseman ,airlines' chief executive officer1 ,hossein ,alaei1 has for decades served as a senior member of the ,,irgc4 #c4 ,certifications for aircraft-related transactions by ,united ,states and foreign financial institutions 7a7 ,in general ,not later than #cj days after authorizing a transaction by a ,united ,states financial institution or a foreign financial institution in connection with the export or re-export of a commercial passenger aircraft to ,iran 7or1 for an authorization made after ,january #af1 #bjaf1 but before the date of the enactment of this ,act1 not later than #fj days after such date of enactment71 and every #ahj days thereafter for the duration of the authorization1 the ,secretary shall submit a report described in subsection 7b7 to the appropriate congressional committees4 7b7 ,report with respect to financial institutions' ,iran-,related transactions and due diligence ,a report described in this subsection is a report that contains-- 7#a7 a list of financial institutions that1 after ,january #af1 #bjaf1 have conducted transactions authorized by the ,secretary in connection with the export or re-export of commercial passenger aircraft to ,iran2 and 7#b7 with respect to the transaction by a financial institution described in subsection 7a71 either-- 7,a7 a certification that-- 7i7 the transaction does not pose a significant money laundering or terrorism financing risk to the ,united ,states financial system2 7ii7 the transaction will not benefit an ,iranian person that1 since the date that is one year preceding the date of the certification-- 7,i7 has knowingly transported items used for the proliferation of weapons of mass destruction1 including systems designed in whole or in part for the delivery of such weapons2 or 7,,ii7 has knowingly provided transportation services or material support for1 or on behalf of1 any person designated under-- 7aa7 ,executive ,order #acbbd 7#ej ,u4,s4,c4 #agja note2 relating to blocking property and prohibiting transactions with persons who commit1 threaten to commit1 or support terrorism72 7bb7 ,executive ,order #acchb 7#ej ,u4,s4,c4 #agja note2 relating to blocking property of weapons of mass destruction delivery system proliferators and their supporters72 or 7cc7 ,executive ,order #acegb 7#ej ,u4,s4,c4 #agja note2 relating to blocking property of certain persons with respect to human rights abuses in ,syria72 and 7iii7 any financial institution described in paragraph 7#a7 has had since the date such authorization was made1 or1 if the authorization is no longer in effect1 had for the duration of such authorization1 appropriate policies1 procedures1 and processes in place to avoid engaging in sanctionable activities that may result from the financial institution's exposure to ,iran2 or 7,b7 a statement that the ,secretary is unable to make the certification described in subparagraph 7,a7 and a notice that the ,secretary will1 not later than #fj days after the date the determination is submitted to the appropriate congressional committees1 submit a report on non-certification described in subsection 7c7 to the appropriate congressional committees4 7c7 ,report on non-,certification ,a report on non-certification described in this subsection is a report with respect to a transaction by a financial institution described in subsection 7a7 that contains-- 7#a7 a detailed explanation for why the ,secretary is unable to make the certification described under subsection 7b77#b77;,a7 with respect to the transaction2 7#b7 a notification of whether the ,secretary will-- 7,a7 not amend the authorization of the transaction with respect to the financial institution1 notwithstanding such non-certification2 7,b7 suspend the authorization until the ,secretary is able to make such certification2 7,c7 revoke the authorization2 or 7,d7 otherwise amend the authorization2 and 7#c7 an explanation of the reasons for any action to be taken described in paragraph 7#b74 7d7 ,waiver ,the ,president may waive1 on a case-by-case basis1 the provisions of this section for up to one year at a time upon certifying to the appropriate congressional committees that-- 7#a7 the ,government of ,iran has-- 7,a7 made substantial progress towards combating money laundering and terrorism financing risk emanating from ,iran2 or 7,b7 significantly reduced ,iran's-- 7i7 destabilizing activities in the region2 or 7ii7 material support for terrorist groups2 or 7#b7 such waiver is important to the national security interests of the ,united ,states1 with an explanation of the reasons therefor4 7e7 ,termination ,this section shall cease to be effective on the date that is #cj days after the date on which the ,president certifies to the appropriate congressional committees that-- 7#a7 7,a7 the ,secretary does not find1 under section #ecah;,a of title #ca1 ,united ,states ,code1 that reasonable grounds exist for concluding that ,iran is a jurisdiction of primary money laundering concern2 and 7,b7 ,iran has ceased providing support for acts of international terrorism2 or 7#b7 terminating the provisions of this section is vital to the national security interests of the ,united ,states1 with an explanation of the reasons therefor4 7f7 ,definitions ,in this section3 7#a7 ,appropriate congressional committees ,the term appropriate congressional committees means-- 7,a7 the ,committee on ,financial ,services and the ,committee on ,foreign ,affairs of the ,house of ,representatives2 and 7,b7 the ,committee on ,banking1 ,housing1 and ,urban ,affairs and the ,committee on ,foreign ,relations of the ,senate4 7#b7 ,financial institution ,the term financial institution means a ,united ,states financial institution or a foreign financial institution4 7#c7 ,foreign financial institution ,the term foreign financial institution has the meaning given that term in section #efa4cjh of title #ca1 ,code of ,federal ,regulations4 7#d7 ,knowingly ,the term knowingly with respect to conduct1 a circumstance1 or a result1 means that a person has actual knowledge1 or should have known1 of the conduct1 the circumstance1 or the result4 7#e7 ,secretary ,the term ,secretary means the ,secretary of the ,treasury4 7#f7 ,united ,states financial institution ,the term ,united ,states financial institution has the meaning given the term ,u4,s4 financial institution in section #efa4cji of title #ca1 ,code of ,federal ,regulations4