States that the Secretary of Energy (DOE) shall engage in any sale, purchase, or exchange activity involving the Strategic Petroleum Reserve only with a person certifying to the Secretary that the person is not directly or indirectly conducting transactions in or with Iran or an Iranian entity.
Exempts from such restriction transactions relating to humanitarian assistance, agricultural products, medicine, or a medical device to Iran or an Iranian entity.
Requires the Government Accountability Office (GAO) to report to Congress every 180 days regarding Iranian imports of crude oil and refined petroleum products.
[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 2058 Introduced in Senate (IS)]
112th CONGRESS
2d Session
S. 2058
To close loopholes, increase transparency, and improve the
effectiveness of sanctions on Iranian trade in petroleum products.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
February 1, 2012
Ms. Murkowski (for herself, Ms. Cantwell, Mr. Heller, Mrs. Gillibrand,
Mr. Portman, Mr. Barrasso, Mr. Cornyn, Mr. Kyl, Mr. Vitter, Mr. Risch,
Mr. Hoeven, Ms. Landrieu, Mr. Begich, Mr. Lugar, Mr. Bennet, Mr.
Menendez, and Mr. Crapo) introduced the following bill; which was read
twice and referred to the Committee on Energy and Natural Resources
_______________________________________________________________________
A BILL
To close loopholes, increase transparency, and improve the
effectiveness of sanctions on Iranian trade in petroleum products.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SALE OF PETROLEUM FROM STRATEGIC PETROLEUM RESERVE.
(a) In General.--The Secretary of Energy (referred to in this
section as the ``Secretary'') shall engage in any sale, purchase, or
exchange activity involving the Strategic Petroleum Reserve established
under part B of title I of the Energy Policy and Conservation Act (42
U.S.C. 6231 et seq.) (referred to in this section as the ``Reserve'')
only with a person that certifies to the Secretary that the person is
not directly or indirectly conducting transactions in or with Iran or
an Iranian entity.
(b) Certification.--To be eligible to participate in any sale,
purchase, or exchange activity involving the Reserve, a person shall
certify to the Secretary, on a regular basis, that the person is not
directly or indirectly conducting transactions in or with Iran or an
Iranian entity (including executed contracts and ongoing negotiations
relating to such transactions).
(c) New Activities.--Prior to participating in any sale, purchase,
or exchange activity involving the Reserve, a person shall disclose to
the Secretary any new activity of the person relating to directly or
indirectly conducting transactions in or with Iran or an Iranian entity
(including executed contracts and ongoing negotiations relating to such
transactions).
(d) Exceptions.--This section shall not apply to a transaction of a
person relating to the provision of humanitarian assistance, an
agricultural commodity or product, medicine, or a medical device to
Iran or an Iranian entity.
(e) Waiver.--The President may waive the requirement for
certification with respect to a person under this section if the
President--
(1) determines that such a waiver is in the national
interests of the United States; and
(2) not later than 15 days after making the determination,
submits to the appropriate congressional committees a report
that describes the reasons for the determination.
(f) Applicability.--The requirements of this section terminate on
the date on which the President determines that all economic sanctions
imposed by the United States with respect to Iran have been lifted.
SEC. 2. REPORTS ON IRANIAN IMPORTS OF CRUDE OIL AND REFINED PETROLEUM
PRODUCTS.
(a) In General.--Not later than 180 days after the date of
enactment of this Act and every 180 days thereafter, the Comptroller
General of the United States shall submit to Congress a report that, to
the maximum extent practicable, describes--
(1) the annual volume and national origin of crude oil and
refined petroleum products imported to and exported from Iran
(including through swaps and similar arrangements);
(2) the identity and national origin of persons selling and
transporting crude oil and refined petroleum products described
in paragraph (1);
(3) entities providing shipping and insurance services to
Iran;
(4) the sources of financing for imports to Iran of crude
oil and refined petroleum products described in paragraph (1);
and
(5) the involvement of persons in efforts to assist Iran,
and to conduct joint ventures with Iran, in--
(A) developing upstream oil and gas production
capacity;
(B) importing advanced technology to upgrade
existing Iranian refineries;
(C) converting existing chemical plants to
petroleum refineries; or
(D) maintaining, upgrading, or expanding refineries
or constructing new refineries.
(b) Applicability.--The period covered by reports under subsection
(a) shall--
(1) commence on July 1, 2010; and
(2) terminate on the date on which the President determines
that all economic sanctions imposed by the United States with
respect to Iran have been lifted.
<all>
Introduced in Senate
Read twice and referred to the Committee on Energy and Natural Resources.
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