arrow_back Back to App

Restoring Iran Oil and Financial Sanctions to Counter Terrorism Funding.

This legislation mandates the re-imposition of strict sanctions targeting Iran's oil exports and financial sector. The goal is to cut off funding sources for terrorist organizations, including Hamas, which the US government views as a threat to national security. While not directly impacting US citizens' daily lives, the Act strengthens US foreign policy aimed at international stability.
Key points
Mandatory sanctions are imposed on foreign entities involved in significant transactions of Iranian oil and petrochemical products.
Foreign financial institutions dealing with the Central Bank of Iran face restrictions or prohibitions on maintaining US correspondent accounts.
The sanctions include exceptions for humanitarian transactions, such as the sale of food, medicine, and medical devices to Iran.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_6120
Sponsor: Rep. Meuser, Daniel [R-PA-9]
Process start date: 2023-10-30
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

NO OIL for Terrorists Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6120.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-10-30.

What are the main provisions?

Key points include:

  • Mandatory sanctions are imposed on foreign entities involved in significant transactions of Iranian oil and petrochemical products.
  • Foreign financial institutions dealing with the Central Bank of Iran face restrictions or prohibitions on maintaining US correspondent accounts.
  • The sanctions include exceptions for humanitarian transactions, such as the sale of food, medicine, and medical devices to Iran.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Meuser, Daniel [R-PA-9].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Security Economy