Iran Refined Petroleum Sanctions Act
The Iran Refined Petroleum Sanctions Act (H.R. 2194), introduced by Representative Howard Berman, would strengthen existing laws regarding Iran sanctions and strengthen their enforcement and implementation. The bill would amend and reauthorize the Iran Sanctions Act, and mandate that any company be barred from the U.S. market if it:
- Sells, leases, or provides Iran with any goods, services, technology, information or support that would allow it to maintain or expand its domestic production of refined petroleum products; or
- Provides Iran with refined petroleum products or engages in an activity that could contribute to Iran’s ability to import refined petroleum resources
The President, however, would have the authority to waive this sanction.
This bill would also close existing loopholes regarding investigations of sanctionable activities and subsequent determinations. It would require the President to investigate a company upon receipt of credible information that such company is engaged in sanctionable activity, and to make a determination within 180 days of commencing such an investigation as to whether the company is, in fact, engaged in sanctionable activity.
This bill will ensure that President Obama is empowered with the full range of tools he needs to address the looming nuclear threat from Iran, even as he pursues diplomacy and, if necessary, the multilateral sanctions track.