Sec. 302. Report on certain financial transactions that benefit the Islamic Republic of Iran; imposition of sanctions
572 words·~3 min read·
/bill/118/s/3166/is/section-302·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than 180 days after the date of the enactment of this Act, and annually thereafter, the Secretary of State shall submit to the Committee on Foreign Relations of the Senate and the Committee on Foreign Affairs of the House of Representatives a report on the violation of sanctions imposed by the United States with respect to the Islamic Republic of Iran. The report required by paragraph
(1)shall include the following: A list of foreign persons that— knowingly conducted or facilitated any significant financial transaction with a foreign person relating to funds transferred by foreign persons relating to any agreement between the United States and the Islamic Republic of Iran between January 1, 2023, and the date of the enactment of this Act, that would be subject to the restrictions described in section 1245(d) of the National Defense Authorization Act for Fiscal Year 2012 ( 22 U.S.C. 8513a(d) ) but for the issuance of a waiver under paragraph
(5)of that section; knowingly conducted or facilitated any significant financial transaction with the Central Bank of Iran or another Iranian financial institution subject to sanctions imposed by the United States for the purpose of repatriating to the Government of the Islamic Republic of Iran assets subject to the restrictions described in such section 1245(d); or knowingly engaged in transactions involving the exchange of Special Drawing Rights issued by the International Monetary Fund and held by or allocated to the Islamic Republic of Iran into United States dollars or another foreign currency. An identification of any vessel that was knowingly used by a foreign person for the transportation of petroleum or petroleum products from the Islamic Republic of Iran, including the following information for the vessel: The International Maritime Organization number of the vessel. The vessel identification number. The current name and any past name of the vessel. Any maritime classification society providing services for the vessel. The current flag under which the vessel operates. Any past flag under which the vessel operated. All owners and operators of the vessel. A description of actions taken by the Secretary of State to engage maritime classification societies identified under subparagraph (B)(iv), and foreign governments that allow vessels described in subparagraph
(B)to fly their flag, to ensure those societies and governments— are fully aware of the sanctions, financial crimes, and reputational risks involved in continuing to provide services to such vessels or to allow such vessels to fly their flag; and cease providing those services or allowing such vessels to fly their flag, as the case may be. Notwithstanding the issuance of any waiver or license, including General License 8 issued by the Office of Foreign Assets Control, the President shall impose the sanctions described in section 1245(d)(1)(A) of the National Defense Authorization Act for Fiscal Year 2012 ( 22 U.S.C. 8513a(d)(1)(A) ) with respect to any financial institution on the most recent list required by subsection (a)(2)(A). The President shall— impose the sanctions described in Executive Order 13382 ( 50 U.S.C. 1701 note; relating to blocking property of weapons of mass destruction proliferators and their supporters) with respect to— each vessel identified under subsection (a)(2)(B); and each owner or operator of such a vessel identified under clause
(vii)of that subsection; and include each such vessel, owner, and operator on the list of specially designated nationals and blocked persons maintained by the Office of Foreign Assets Control of the Department of the Treasury.
Connectionstraces to 3
Citation graph
cites case law
Sec. 302
Report on certain financial transactions that benefit the Islamic Republic of Iran; imposition of sanctions
Cites 3Cited by 0 across 0 sources