To amend the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 to provide for the imposition of sanctions with respect to the National Iranian Oil Company and the National Iranian Tanker Company.

referredUnited States· United States Congress· EN

Introduced

31 January 2012

Last action

9 February 2012 · Referred

Status

Referred to the Subcommittee on International Monetary Policy and Trade.

Summary

Amends the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 to direct the Secretary of the Treasury to determine whether the National Iranian Oil Company (NIOC) or the National Iranian Tanker Company (NITC) is an agent or affiliate of Iran's Islamic Revolutionary Guard Corps (IRGC) and submit such determination to Congress. Applies, 180 days after the enactment of the National Defense Authorization Act for Fiscal Year 2012 (P.L. 112-81), specified prohibitions and conditions on U.S. correspondent or payable-through accounts of foreign financial institutions that engage in petroleum or petroleum product transactions with, or provide related financial services to, the NIOC or NITC if the President determines that there is a sufficient supply of non-Iranian petroleum and petroleum product sources to permit purchasers of Iranian petroleum and petroleum products to reduce significantly their purchases from Iran. Exempts from such provision foreign financial institutions from a country that has significantly reduced its crude oil purchases from Iran.

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Timeline

31 January 2012
Introduced
Introduced in House
Source: IntroReferral
31 January 2012
Introduced
Introduced in House
Source: IntroReferral
31 January 2012
Introduced
Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Source: IntroReferral
9 February 2012
Referred
Referred to the Subcommittee on International Monetary Policy and Trade.
Source: Committee

Votes

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Versions

Introduced in House · 31 January 2012 · Download file

Documents

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Introduced in House (text)

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Introduced in House (text)
Introduced in House · EN · 31 January 2012
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Introduced in House (PDF)
Introduced in House · EN · 31 January 2012
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Introduced in House
summary · EN · 31 January 2012
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Related records

related to ← Iran Sanctions, Accountability, and Human Rights Act of 2012

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/112th-congress/house-bill/3843
Open data entity: https://api.congress.gov/v3/bill/112/hr/3843
us · 112-hr-3843 · source updated 23 January 2025