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United States · Bill · S

S. 2799 (111th)

Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2009

openUnited States· United States Congress· EN

Introduced

19 November 2009

Last action

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Status

Message received in the Senate: Returned to the Senate pursuant to the provisions of H.Res. 1653.

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Subjects

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Source updated

5 December 2025

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Summary

Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2009 - Amends the Iran Sanctions Act of 1996 (ISA) to direct the President to impose two or more specified ISA sanctions if a person (defined by such Act to include a natural person, business enterprise, or government entity operating as a business enterprise) has, with actual knowledge, made an investment of $20 million or more, or any combination of investments of at least $5 million which in the aggregate equals or exceeds $20 million in any 12-month period, that directly and significantly contributed to Iran's ability to develop petroleum resources. (Under current law the sanction thresholds are $40 million, $10 million, and $40 million, respectively.) Directs the President to impose specified ISA sanctions on a person that, with actual knowledge, sells or provides goods, services, technology, information, or provides support related to the production of refined petroleum products in Iran: (1) any of which has a fair market value of $200,000 or more; or (2) that during a 12-month period have an aggregate fair market value of $1 million or more. Directs the President to impose specified ISA sanctions on a person that, with actual knowledge: (1) provides Iran with refined petroleum products that have a fair market value of $200,000 or more, or that, during a 12-month period, have an aggregate fair market value of $1 million or more; or (2) sells or provides to Iran certain goods, services, technology, information, or support any of which has a fair market value of $200,000 or more, or that during a 12-month period have an aggregate fair market value of $1 million or more. Sets forth mandatory foreign exchange, banking, and property sanctions for violations of such refined petroleum product production and export prohibitions. Expands the definition of "person" to include a financial institution, insurer, underwriter, guarantor, and any other business organization including a foreign subsidiary, parent, or affiliate, or a governmental entity acting as an export credit agency. Redefines "petroleum resources" to include petroleum, refined petroleum products, oil or liquefied natural gas, natural gas resources, oil or liquefied natural gas tankers, and products used to construct or maintain pipelines used to transport oil or liquefied natural gas. Defines "refined petroleum products" to mean diesel, gasoline, jet fuel (including naphtha-type and kerosene-type jet fuel), and aviation gasoline. Applies specified additional economic sanctions to Iran. Makes a United States person (as defined by this Act) liable for activities conducted by a foreign subsidiary that: (1) was established to circumvent specified U.S. sanctions or statutes regarding Iran; and (2) engages in activities which, if committed in the United States or by a United States person, would violate such provisions. Makes such prohibitions and penalties inapplicable to a United States person that divests or terminates its business from a controlled subsidiary not later than 90 days after enactment of this Act. Prohibits the head of any U.S. executive agency from entering into procurement contracts with an entity that has exported to Iran sensitive communications technology intended to be used to monitor or disrupt free communications to the people of Iran. Urges the President to consider imposing sanctions on the Central Bank of Iran and any other Iranian bank engaged in proliferation activities or support of terrorist groups. Expresses the sense of Congress that: (1) the United States should continue to target Iran's Revolutionary Guard Corps with economic sanctions and counter support for Hezbollah; and (2) the President should work with our allies to impose multilateral sanctions on Iran if diplomatic efforts to end Iran's nuclear activities fail. States that it is U.S. policy to support the decision of state and local governments and educational institutions to divest from, and to prohibit the investment of assets they control in, persons that have investments of $20 million or more in Iran's energy sector. Authorizes a state or local government to adopt and enforce measures to divest its assets from, or prohibit the investment of assets they control in, such persons. Amends the Investment Company Act of 1940 to shield any registered investment company and its directors, officers, employees, or advisors from civil, criminal, or administrative action based upon its divesting from, or avoiding investing in, Iran. Expresses the sense of Congress that a fiduciary of certain employee benefit plans may under specified conditions divest plan assets from, or avoid investing plan assets in, any person who engages in prohibited investment activities in Iran without breaching fiscal responsibilities. Directs: (1) the Secretary of Commerce to designate a country as a Destination of Possible Diversion Concern if such designation is appropriate for activities to strengthen the county's export control systems based on specified criteria; and (2) the United States upon such designation to initiate specified government-to-government activities to strengthen the country's export control systems. Directs the Secretary of Commerce to designate a country as a Destination of Diversion Concern if the country: (1) allows substantial transshipment, reexportation, or diversion of U.S.-originated items to unidentifiable end-users or to entities in Iran; or (2) has failed to cooperate with government-to-government activities or to adequately strengthen its export control systems. Directs the Secretary of Commerce to: (1) report to Congress identifying items that if transshipped, reexported, or diverted Iran could contribute to Iran obtaining nuclear, biological, or chemical weapons, or other defense items or technologies, or could contribute to Iranian support for acts of international terrorism; and (2) require an export license for a listed item to a country designated as a Destination of Diversion Concern. Requires the Director of National Intelligence to report: (1) annually to the Secretaries of Commerce, State, Treasury, and to Congress identifying countries where sensitive U.S. technology is being illegally transshipped to Iran via other countries; and (2) to Congress on whether or not to extend the measures in this title to countries that allow diversion to other countries seeking weapons of mass destruction or supporting international terrorism. Terminates the provisions of this Act 30 days after the date on which the President certifies to Congress that: (1) the government of Iran has ceased supporting acts of international terrorism and no longer satisfies certain requirements for designation as a state sponsor of terrorism; and (2) Iran has ceased the development of nuclear, biological, chemical, and ballistic weapons.

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