Iran SDR Exchange Prohibition Act of 2023

This bill prohibits the U.S. Treasury from exchanging Special Drawing Rights (SDRs) - an international reserve asset managed by the IMF - held by Iran. It requires the Treasury to urge other IMF member countries to block Iran from exchanging its SDRs and directs the U.S. IMF representative to oppose any new SDR allocations to Iran. The law directly affects Iran’s ability to access and utilize these financial assets through the IMF. It implements a financial restriction targeting Iran’s international monetary holdings without altering broader IMF operations.