Presidential Determination Pursuant to Section 1245(d)(4)(B) and (C) of the National Defense Authorization Act for Fiscal Year 2012

Key Points

• This is a required legal step to keep economic pressure on Iran. Every few months, the government must check if there is enough oil from other countries to replace what is bought from Iran.
• Because there is enough oil elsewhere, the U.S. can continue to punish foreign banks that help Iran sell its oil. These banks could be blocked from the American financial system if they do not cut back on Iranian oil deals.
• This decision is based on reports about how much oil is being produced worldwide. It helps make sure that sanctions on Iran do not cause a sudden jump in gas prices for American families.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.