Bill Summary

Bill Summary: H.R. 3774

This bill, introduced by Mr. Lawler and Mr. Moskowitz, aims to impose additional sanctions on the importation and facilitation of the importation of petroleum products from Iran. The bill's purpose is to deny Iran the ability to engage in destabilizing activities, support international terrorism, fund the development of weapons of mass destruction, and limit Iran's export of petroleum and petroleum products. It also seeks to sanction entities that violate U.S. law by supporting the Iranian energy sector and highlights the detrimental effect of Iran's actions on the security interests of the United States.

Key Provisions

Section 2 of the bill states the policy of the United States, including the goals of denying Iran funds to oppress and commit human rights violations against the Iranian people, and sanctioning entities that support the Iranian energy sector.

Section 3 imposes sanctions on foreign persons who engage in certain activities related to Iranian petroleum. These activities include owning or operating a foreign port that receives designated vessels transporting Iranian crude oil, transporting or dealing in petroleum products originating from Iran, owning or operating a vessel used for ship-to-ship transfers of Iranian petroleum products, owning or operating a refinery that deals with Iranian petroleum products, and engaging in significant transactions with entities involved in these activities.

The sanctions described in Section 3 include blocking the property of foreign persons engaged in these activities, making them ineligible for visas or admission into the United States, and imposing penalties for violations.

Section 4 requires the Administrator of the Energy Information Administration to submit annual reports on Iran's exports of petroleum and petroleum products, including estimates of revenue and detailed information on exporting and selling practices.

The bill defines "appropriate congressional committees" in Section 5 as the Committee on Foreign Affairs and the Committee on Financial Services of the House of Representatives, and the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate.

Rep. Rudolph Yakym

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