1. SUMMARY:
The primary purpose of this bill is to freeze $6 billion of Iranian funds held in Qatar and rescind licenses and waivers that allowed the transfer of these funds, purportedly for humanitarian purposes. Key provisions include rescinding any existing licenses or exemptions that permitted the $6 billion transfer from South Korea, prohibiting new licenses or waivers for a year, and requiring a report on Iranian assets over $5 million blocked by the U.S. and a classified list of exemptions related to Iran sanctions. The bill aims to restrict Iran's access to funds that could finance terrorism, impacting Iran's government, affiliated entities, and organizations like Hamas and Hezbollah.