House Committee Reviews Bill Targeting Foreign Firms That Move Iranian Oil With Asset Freezes, U.S. Entry Bans

From policy text

“any foreign person, including any bank or foreign financial institution, insurance provider, flagging registry, pipeline construction or operation facility for liquefied natural gas, that-- (1) the President determines knowingly engaged in, on or after such date of enactment, any transaction involved in, relating or incident to the processing, export, or sale of oil, condensates, gas, liquefied natural gas, or other petrochemical products in whole or in part from the Islamic Republic of Iran”

From policy text

“The President shall, pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.), block and prohibit all transactions in property and interests in property of a foreign person subject to sanctions pursuant to subsection (a)(1) if such property and interests in property are in the United States, come within the United States, or are or come within the possession or control of a United States person.”

From policy text

“(i) inadmissible to the United States; (ii) ineligible to receive a visa or other documentation to enter the United States; and (iii) otherwise ineligible to be admitted or paroled into the United States or to receive any other benefit under the Immigration and Nationality Act (8 U.S.C. 1101 et seq.). (B) Current visas revoked.-- (i) In general.--The visa or other entry documentation of an alien described in subparagraph (A) shall be revoked”

From policy text

“The Working Group shall endeavor to establish a multilateral contact group with like-minded nations to coordinate international efforts to enforce sanctions imposed with respect to the Islamic Republic of Iran.”

From policy text

“Sanctions under this section shall not apply to-- (i) the conduct or facilitation of a transaction for the provision of agricultural commodities, food, medicine, medical devices, or humanitarian assistance, or for humanitarian purposes; or (ii) transactions that are necessary for or related to the activities described in clause (i).”