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United States · Law · HR

H.R. 3107 (104th)

Iran and Libya Sanctions Act of 1996

enactedUnited States· United States Congress· EN

Introduced

19 March 1996

Last action

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Status

Became Public Law No: 104-172.

Sponsors

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Subjects

Discovery layer

Source updated

23 March 2026

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Summary

Iran Oil Sanctions Act of 1996 - Directs the President to impose certain economic sanctions against persons who with actual knowledge or reason to know: (1) export certain petroleum and natural gas-related goods or technology that would significantly and materially enhance Iran's ability to develop its petroleum resources; or (2) make an investment of $40 million or more in any 12-month period that directly contributes to Iran's development of such resources. Specifies exceptions to trade sanctions, among other things for certain defense-related articles or services essential to U.S. national security. Prohibits with respect to any sanctioned person: (1) extension of Export-Import Bank assistance; (2) licenses or permits for the exportation of goods or technology; (3) importation into the United States of products produced by such person; and (4) loans from U.S. financial institutions. Specifies sanctions against financial institutions. Authorizes the Secretary of State upon request to issue an advisory opinion to any person as to whether a proposed activity would be subject to sanctions. Waives the requirements of this Act if the President certifies to the appropriate congressional committees that Iran has: (1) ceased its efforts to develop or acquire a nuclear explosive device, chemical or biological weapons, or ballistic missiles and missile launch technology; and (2) been removed from the list of countries determined, under the Export Administration Act of 1979, to have repeatedly supported acts of international terrorism. Sets forth additional criteria for such waiver. Directs the President to establish a List of Petroleum and Natural Gas-Related Goods and Technology which shall be subject to the export control restrictions of this Act. Requires the President to report periodically to the appropriate congressional committees on efforts to persuade other countries to: (1) pressure Iran to cease its weapons of mass destruction programs and support of international terrorism; and (2) ask Iran to reduce the presence of Iranian diplomats and other personnel and withdraw any of them who participated in the takeover of the U.S. embassy in Tehran on November 4, 1979. Requires the President to ensure continued reports to the Congress on Iran's: (1) nuclear and other military capabilities; and (2) support for acts of international terrorism. Applies the sanctions required under this Act to persons making investments for the development of petroleum resources in Libya. Declares that determinations to impose sanctions under this Act are not reviewable in any court.

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Documents

18 official files

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