Mark Dubowitz, a sanctions expert and executive director of the Foundation for Defense of Democracies, said that provision also sends a strong message to the European Central Bank ahead of its March 7 meeting in Brussels to "make it much more difficult for Iran to repatriate those euros back to Iran or use those to euros to fund commercial trade."

The bill is certain to attract strong bipartisan support. Earlier measures in the House and Senate targeting Iran's central bank and other entities passed overwhelmingly.

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