Sec. 2. Findings
161 words·~1 min read·
/bill/113/s/965/is/section-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Congress finds that— despite recently enacted sanctions, Iran continues to export 1,250,000 barrels of oil per day; 70 percent of the revenue of the Government of Iran comes from oil exports; exports of oil from Iran enable the Government of Iran to finance its nuclear weapons program and support rogue actors such as the Assad regime of Syria; the international community has reduced its reliance on oil from Iran, but has balked at a full embargo out of fear that the supply of oil on the world market would be insufficient to meet demand without massive price increases and disruptions to the world economy; by expanding oil production in the United States by 1,250,000 barrels per day, the United States will displace all oil exports from Iran on the world market; and displacing oil exports from Iran will enable the imposition of a full embargo against oil from Iran, further isolating the country and reducing its ability to threaten global stability.