Prohibiting Future Ransom Payments to Iran Act

[AI summary unavailable — showing source text] Prohibiting Future Ransom Payments to Iran Act This bill declares that it shall be the policy of the U.S. government not to pay ransom or release prisoners for the purpose of securing the release of U.S. citizens taken hostage abroad. The U.S. government is prohibited from providing promissory notes (including currency) issued by the U.S. government or by a foreign government to the government of Iran. The conduct of a transaction or payment in connection with a claim settlement agreement brought before the Iran-United States Claims Tribunal (established on January 19, 1981) may be made only: (1) on a case-by-case basis pursuant to a specific license by the Department of the Treasury's Office of Foreign Assets Control, and (2) in a manner that does not contradict such promissory note prohibition. The President must publish a list of such transactions or payments. Such promissory note prohibition and licensing requirement shall remain in effect until the President certifies that: (1) a preliminary or final rule providing for Iran's designation as a jurisdiction of primary money laundering concern has been rescinded, and (2) the Department of State has removed Iran from the list of c…