Strengthening Iran Sanctions: Targeting China's Role in Illicit Oil Trade.
This law aims to cut off billions of dollars in oil revenue used by Iran to fund terrorism and support Russia, by focusing enforcement efforts on the People's Republic of China. It requires the US government to develop a strategy to counter China's evasion of sanctions on Iranian petroleum products. The President must identify and impose sanctions on Chinese entities and individuals involved in this illicit trade.
Key points
Mandates sanctions against Chinese entities and individuals assisting Iran in selling oil, thereby funding terrorist groups.
Requires a detailed strategy for monitoring and intercepting vessels and operators involved in smuggling Iranian-origin petroleum products.
Requires a report assessing the impact of sanctions on Iran's economy, military programs, and the standard of living of the Iranian people.
Exempts transactions related to humanitarian aid, food, and medicine from the new sanctions.
Expired
Additional Information
Print number: 118_S_3235
Sponsor: Sen. Risch, James E. [R-ID]
Process start date: 2023-11-07