Iran transparency aim of Cotton bill

WASHINGTON — U.S. Sen. Tom Cotton, who has repeatedly clashed with Iran’s ayatollahs, wants to make it harder for them to hide their financial assets from public scrutiny.

The Republican from Dardanelle on Monday introduced the Iranian Leadership Asset Transparency Act, which would “require the Secretary of the Treasury to report on the estimated total assets under direct or indirect control by certain senior Iranian leaders and other figures.”

The bill, SB2353, states that “Iran is characterized by high levels of official and institutional corruption” and alleges that “many members of Iran’s senior political and military leadership have acquired significant personal and institutional wealth by using their positions to secure control of significant portions of Iran’s national economy.”

If passed, the Treasury secretary would issue periodic reports listing “the estimated total funds or other assets held in accounts at United States and foreign financial institutions” that are controlled by Iran’s supreme leader, president and numerous other officials.

U. S. Sen. Orrin Hatch, R-Utah, is co-sponsoring the measure. A companion bill easily passed in the House late last year.

In a written statement, Cotton said the legislation will shine a spotlight on the conduct of Tehran’s leadership.

“This report will expose to all the world just how badly the ayatollahs have mismanaged the Iranian economy and just how much money they’ve stolen from the Iranian people,” he said.