Iran SDR Exchange Prohibition Act of 2023

This bill prohibits the U.S. Treasury from exchanging Special Drawing Rights (SDRs) - IMF reserve assets held by Iran - and requires the Treasury to urge other IMF member countries to block such exchanges. It directly affects Iran’s ability to access its SDR holdings through U.S. or international financial channels. Key mechanisms include banning U.S. Treasury transactions involving Iran’s SDRs, directing the U.S. IMF representative to oppose any SDR allocations to Iran, and advocating globally for other nations to restrict Iran’s SDR access. The bill does not alter existing sanctions but targets a specific financial tool (SDRs) held by Iran.