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[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6120 Introduced in House (IH)]
<DOC>
118th CONGRESS
1st Session
H. R. 6120
To restore and require the imposition of certain sanctions previously
waived with respect to Iran, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
October 30, 2023
Mr. Meuser introduced the following bill; which was referred to the
Committee on Foreign Affairs, and in addition to the Committee on
Financial Services, for a period to be subsequently determined by the
Speaker, in each case for consideration of such provisions as fall
within the jurisdiction of the committee concerned
_______________________________________________________________________
A BILL
To restore and require the imposition of certain sanctions previously
waived with respect to Iran, and for other purposes.
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 ``Negating Opportunities for Oil
Income Leveraged for Terrorists Act'' or the ``NO OIL for Terrorists
Act''.
SEC. 2. FINDINGS.
Congress finds the following:
(1) The Islamic Republic of Iran continues to engage in
serious violations of its international obligations.
(2) The Government of Iran provides funding, material
support, and resources to terrorist organizations, including
Hamas, which conducts terrorist attacks against Israel.
(3) The actions of the Government of Iran pose an ongoing
threat to the national security of the United States, our
allies, and international stability.
(4) The reimposition of sanctions is a necessary and
appropriate measure to counter Iran's destabilizing activities
and encourage Iran's compliance with international obligations.
SEC. 3. REIMPOSITION OF SANCTIONS.
(a) Oil Export Sanctions.--The President shall use all powers
granted to the President under the International Emergency Economic
Powers Act (50 U.S.C. 1701 et seq.) to block all property and interests
in property within the United States, or within the possession or
control of any United States person, of any foreign person determined
to have knowingly engaged in a significant transaction for the
purchase, acquisition, sale, transport, or marketing of petroleum,
petroleum products, or petrochemical products from Iran.
(b) Penalties.--The penalties provided for in subsections (b) and
(c) of section 206 of the International Emergency Economic Powers Act
(50 U.S.C. 1705) shall apply to violations of the regulations
prescribed under subsection (a) to the same extent as such penalties
apply to a person that commits an unlawful act described in section
206(a) of that Act.
(c) Exceptions.--
(1) Waiver.--The President may grant waivers on a case-by-
case basis to a foreign person if the President--
(A) determines that--
(i) the country of which the foreign person
is a national or under the laws of which the
foreign person is organized has significantly
reduced its volume of crude oil purchases from
Iran; and
(ii) the waiver is critical to the national
security interests of the United States; and
(B) submits written notification to the Speaker and
the Minority Leader of the House of Representatives, as
well as the Majority and Minority Leaders of the
Senate, of the intent to issue such a waiver.
(2) Humanitarian needs.--The requirement to impose
sanctions under this section shall not apply to transactions
for or incidental to the sale of agricultural commodities,
food, medicine, or medical devices to Iran.
SEC. 4. SANCTIONS ON FINANCIAL INSTITUTIONS.
(a) Finding.--The Government of Iran uses its banking sector to
facilitate Iran's nuclear programs, its support for terrorism, and its
malign regional influence.
(b) Imposition of Sanctions.--
(1) 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 any foreign financial institution that knowingly conducts or
facilitates any significant financial transaction with the
Central Bank of Iran or any other Iranian financial institution
included in the List of Specially Designated Nationals and
Blocked Persons maintained by the Office of Foreign Assets
Control of the Department of the Treasury pursuant to the
imposition of sanctions relating to Iran's proliferation of
weapons of mass destruction or Iran's support for international
terrorism.
(2) Waiver.--The President may, on a case-by-case basis,
waive the sanctions required by paragraph (1) with respect to
transactions the President determines are necessary to the
national security interests of the United States.
SEC. 5. REPORTING REQUIREMENT.
The President shall submit to the appropriate congressional
committees not later than 60 days after the date of the enactment of
this Act, and every 180 days thereafter, a report that includes each of
the following:
(1) The progress of the Government of Iran in complying
with international nuclear obligations.
(2) The status of Iran's support for international
terrorism, including its financing and support of Hamas and
other terrorist organizations.
(3) Measures taken to impose and enforce the sanctions
required by this Act.
SEC. 6. SUNSET CLAUSE.
This Act shall cease to have effect on date on which the President
certifies to Congress that Iran has ceased to finance international
terrorism.
SEC. 7. DEFINITIONS.
In this Act--
(1) Appropriate congressional committees.--The term
``appropriate congressional committees'' means--
(A) the Committee on Foreign Affairs, the Committee
on Financial Services, the Committee on Ways and Means,
and the Permanent Select Committee on Intelligence of
the House of Representatives; and
(B) the Committee on Foreign Relations, the
Committee on Banking, Housing, and Urban Affairs, the
Committee on Finance, and the Select Committee on
Intelligence of the Senate.
(2) Foreign financial institution.--The term ``foreign
financial institution'' has the meaning given that term in
section 561.308 of title 31, Code of Federal Regulations.
(3) Foreign person.--The term ``foreign person'' means a
person who is not a United States person.
(4) United states person.--The term ``United States
person'' means--
(A) a citizen or national of the United States or
an alien lawfully admitted for permanent residence to
the United States; or
(B) an entity organized under the laws of the
United States or any jurisdiction within the United
States including a foreign branch of such an entity.
<all>
Introduced in House
Introduced in House
Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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