Iranian Sanctions Enforcement Act of 2023

The Iranian Sanctions Enforcement Act of 2023 establishes the Iran Sanctions Enforcement Fund, initially funded with $150 million, to cover expenses related to seizures and forfeitures of property connected to sanctions violations by Iran or its designated proxies like Hezbollah and the Iranian Revolutionary Guard Corps. The fund will pay for law enforcement costs including investigations, detention, equipment, and rewards for informants, with priority given to seizing oil and petroleum products that fund terrorist activities. The bill also creates an Export Enforcement Coordination Center within Homeland Security to better coordinate federal agencies' efforts on sanctions enforcement. Annual reports to Congress will detail fund usage, seizures, and financial status, with the fund required to repay the Treasury $150 million by 2034 unless waived for national security reasons.