STOP Iran Act of 2023

S 450 (STOP Iran Act of 2023) requires U.S. exporters to obtain a license from the Commerce Secretary before sending certain sensitive technologies to Iranian entities that support groups like Iran's Revolutionary Guard, nuclear program, or designated terrorist organizations (such as Hezbollah or Hamas). It applies to exports, reexports, or in-country transfers of "emerging and foundational technologies" to Iranian individuals or entities on U.S. sanction lists. The law mandates that the Commerce Secretary submit detailed reports to Congress within 30 days of issuing any such license, explaining the rationale and why the entity wasn't previously blocked under existing export rules. This creates a new administrative barrier for U.S. companies seeking to engage with sanctioned Iranian actors.