Iran Export Embargo Act - Amends the Iran Freedom and Counter-Proliferation Act of 2012 to direct the President to prohibit all transactions in property and property interests of a person (as defined in this Act) if such property and property interests are in the United States or within the possession or control of a U.S. individual.
Directs the President to prohibit the opening, and prohibit or impose strict conditions on the maintaining, in the United States of a correspondent account or a payable-through account by a foreign financial institution that has knowingly conducted or facilitated a significant transaction with respect to the importation, sale, or transfer of goods or services from Iran on behalf of a described person.
Directs the President to impose sanctions pursuant to the International Emergency Economic Powers Act with respect to an individual that knowingly: (1) imports, purchases, or transfers goods or services from a described person; and (2) provides underwriting services or insurance or reinsurance to a described person.
Describes a "person" as: (1) the state and the government of Iran, or any political subdivision, agency, or instrumentality of such government, including the Central Bank of Iran; (2) any person owned or controlled by, or acting for or on behalf of, such government; or (3) any other person determined by the President to be described in clauses (1) or (2).
[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 1001 Introduced in Senate (IS)]
113th CONGRESS
1st Session
S. 1001
To impose sanctions with respect to the Government of Iran.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
May 21, 2013
Mr. Cornyn (for himself, Mr. Kirk, Mr. Cruz, Mr. Blunt, Mr. Roberts,
Mr. Chambliss, Mr. Risch, Mr. Coats, Mr. Graham, Mr. Wicker, Mrs.
Fischer, Mr. Boozman, Mr. Crapo, Mr. Isakson, Mr. Hoeven, Mr. Rubio,
and Mr. Vitter) introduced the following bill; which was read twice and
referred to the Committee on Banking, Housing, and Urban Affairs
_______________________________________________________________________
A BILL
To impose sanctions with respect to the Government of Iran.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Iran Export Embargo Act''.
SEC. 2. IMPOSITION OF SANCTIONS WITH RESPECT TO THE GOVERNMENT OF IRAN.
The Iran Freedom and Counter-Proliferation Act of 2012 (22 U.S.C.
8801 et seq.) is amended by inserting after section 1245 the following:
``SEC. 1245A. IMPOSITION OF SANCTIONS WITH RESPECT TO THE GOVERNMENT OF
IRAN.
``(a) Findings.--Congress makes the following findings:
``(1) The Government of Iran stands in violation of the
United Nations Universal Declaration of Human Rights, adopted
at Paris December 10, 1948, by denying its citizens basic
freedoms, including the freedoms of expression, religion, and
peaceful assembly and movement, and for flagrantly abusing the
rights of minorities and women.
``(2) The Government of Iran remains the leading state
sponsor of terrorism in the world. That Government's
sponsorship of terrorism includes recent involvement in a
terrorist attack in Bulgaria, a plot to blow up a cafe in
Washington, DC, a plot to assassinate United States officials
in the Republic of Azerbaijan, and attempted terrorist attacks
in Canada and the Republic of Georgia.
``(3) The Government of Iran stands in violation of United
Nations Security Council Resolutions 1737 (2006), 1747 (2007),
1803 (2008), and 1929 (2010) by refusing to suspend
proliferation-sensitive nuclear activities, including all
enrichment-related and reprocessing activities and work on all
heavy water-related projects.
``(4) The Government of Iran continues to develop ballistic
missiles capable of threatening the interests and allies of the
United States.
``(5) The Government of Iran stands in violation of United
Nations Security Council Resolution 1701 (2006) by its
continued transfer of arms to terrorist groups in southern
Lebanon.
``(6) The Government of Iran continues to provide arms to
terrorist groups in the Gaza Strip.
``(7) The Government of Iran continues to support the
Government of Syria in carrying out human rights abuses and
crimes against humanity against the people of Syria.
``(b) Blocking of Property.--On and after the date that is 60 days
after the date of the enactment of this Act, the President shall block
and prohibit all transactions in all property and interests in property
of a person described in subsection (f) if such property and interests
in property are in the United States, come within the United States, or
are or come within the possession or control of a United States person.
``(c) Facilitation of Certain Transactions.--The President shall
prohibit the opening, and prohibit or impose strict conditions on the
maintaining, in the United States of a correspondent account or a
payable-through account by a foreign financial institution that the
President determines has knowingly, on or after the date that is 60
days after the date of the enactment of this Act, conducted or
facilitated a significant transaction with respect to the importation,
sale, or transfer of goods or services from Iran on behalf of a person
described in subsection (f).
``(d) Importation, Sale, or Transfer of Goods and Services From
Iran.--The President shall impose sanctions pursuant to the
International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.)
with respect to a person if the President determines that the person
knowingly, on or after the date that is 60 days after the date of the
enactment of this Act, imports, purchases, or transfers goods or
services from a person described in subsection (f).
``(e) Insurance and Reinsurance.--
``(1) In general.--The President shall impose sanctions
pursuant to the International Emergency Economic Powers Act (50
U.S.C. 1701 et seq.) with respect to a person if the President
determines that the person knowingly, on or after the date that
is 60 days after the date of the enactment of this Act,
provides underwriting services or insurance or reinsurance to a
person described in subsection (f).
``(2) Exception for underwriters and insurance providers
exercising due diligence.--The President may not impose
sanctions under paragraph (1) with respect to a person that
provides underwriting services or insurance or reinsurance if
the President determines that the person has exercised due
diligence in establishing and enforcing official policies,
procedures, and controls to ensure that the person does not
underwrite or enter into a contract to provide insurance or
reinsurance for a person described in subsection (f).
``(f) Persons Described.--A person described in this subsection is
any of the following:
``(1) The state and the Government of Iran, or any
political subdivision, agency, or instrumentality of that
Government, including the Central Bank of Iran.
``(2) Any person owned or controlled, directly or
indirectly, by that Government.
``(3) Any person acting or purporting to act, directly or
indirectly, for or on behalf of that Government.
``(4) Any other person determined by the President to be
described in paragraph (1), (2), or (3).
``(g) Rule of Construction.--A person described in subsection (f)
is subject to sanctions under this section without regard to whether
the name of the person is published in the Federal Register or
incorporated into the list of specially designated nationals and
blocked persons maintained by the Office of Foreign Assets Control of
the Department of the Treasury.
``(h) Applicability to Exports of Crude Oil From Iran.--Subsections
(c) and (d) shall apply with respect to the exportation, importation,
sale, or transfer of crude oil from Iran on and after the date that is
180 days after the date of the enactment of this Act.''.
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Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S3661-3662)
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