I 

112TH CONGRESS 

2D SESSION H. R. 3843 

To amend the Comprehensive Iran Sanctions, Accountability, and Divestment 

Act of 2010 to provide for the imposition of sanctions with respect 

to the National Iranian Oil Company and the National Iranian Tanker 

Company. 

IN THE HOUSE OF REPRESENTATIVES 

JANUARY 31, 2012 

Mr. BERMAN introduced the following bill; which was referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial 

Services, for a period to be subsequently determined by the Speaker, in 

each case for consideration of such provisions as fall within the jurisdiction of the committee concerned 

A BILL 

To amend the Comprehensive Iran Sanctions, Accountability, 

and Divestment Act of 2010 to provide for the imposition 

of sanctions with respect to the National Iranian Oil 

Company and the National Iranian Tanker Company. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 


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1 SECTION 1. AMENDMENT TO COMPREHENSIVE IRAN SANC2 TIONS, ACCOUNTABILITY, AND DIVESTMENT 

3 ACT. 

4 Section 104(c) of the Comprehensive Iran Sanctions, 

5 Accountability, and Divestment Act of 2010 (22 U.S.C. 

6 8501 et seq.) is amended by adding at the end the fol7 lowing new paragraph: 

8 ‘‘(4) DETERMINATIONS REGARDING NIOC AND

9 NITC.— 

10 ‘‘(A) DETERMINATIONS.—For purposes of 

11 paragraph (2)(E)(i), the Secretary of the 

12 Treasury shall, not later than 60 days after the 

13 date of the enactment of this paragraph— 

14 ‘‘(i) determine whether the NIOC or 

15 the NITC is an agent or affiliate of Iran’s 

16 Islamic Revolutionary Guard Corps; and 

17 ‘‘(ii) submit to the appropriate con18 gressional committees the determinations 

19 made under clause (i), together with the 

20 reasons for those determinations. 

21 ‘‘(B) FORM OF REPORT.—A report sub22 mitted under subparagraph (A)(ii) shall be sub23 mitted in unclassified form but may contain a 

24 classified annex. 

25 ‘‘(C) APPLICABILITY WITH RESPECT TO

26 PETROLEUM TRANSACTIONS.— 


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1 ‘‘(i) APPLICATION OF SANCTIONS.— 

2 Except as provided in clause (ii), the regu3 lations prescribed under paragraph (1) 

4 shall apply to a transaction for the pur5 chase of petroleum or petroleum products 

6 from, or to financial services relating to 

7 such a transaction for, NIOC or NITC on 

8 or after the date that is 180 days after the 

9 date of the enactment of the National De10 fense Authorization Act for Fiscal Year 

11 2012 (Public Law 112–81) only if the 

12 President has determined, pursuant to sec13 tion 1245(d)(4)(B) of that Act, that there 

14 is a sufficient supply of petroleum and pe15 troleum products produced in countries 

16 other than Iran to permit purchasers of 

17 petroleum and petroleum products from 

18 Iran to reduce significantly in volume their 

19 purchases from Iran. 

20 ‘‘(ii) EXCEPTION FOR CERTAIN COUN21 TRIES.—The regulations prescribed under 

22 paragraph (1) shall not apply to a foreign 

23 financial institution that facilitates a sig24 nificant transaction or transactions for the 

25 purchase of petroleum or petroleum prodVerDate Mar 15 2010 03:58 Feb 01, 2012 Jkt 019200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H3843.IH H3843

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1 ucts from, or that provides significant fi2 nancial services relating to such a trans3 action for, NIOC or NITC if the President 

4 determines and reports to Congress, not 

5 later than 90 days after the date on which 

6 the President makes the determination re7 quired by section 1245(d)(4)(B) of the Na8 tional Defense Authorization Act for Fiscal 

9 Year 2012, and every 180 days thereafter, 

10 that the country with primary jurisdiction 

11 over the foreign financial institution has 

12 significantly reduced its volume of crude 

13 oil purchases from Iran during the period 

14 beginning on the date on which the Presi15 dent submitted the last report with respect 

16 to the country under this clause. 

17 ‘‘(D) DEFINITIONS.—In this paragraph: 

18 ‘‘(i) NIOC.—The term ‘NIOC’ means 

19 the National Iranian Oil Company. 

20 ‘‘(ii) NITC.—The term ‘NITC’ means 

21 the National Iranian Tanker Company. 

22 ‘‘(iii) AGENT.—The term ‘agent’ in23 cludes an entity established by person for 

24 purposes of conducting transactions on beVerDate Mar 15 2010 03:58 Feb 01, 2012 Jkt 019200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H3843.IH H3843

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1 half of the person in order to conceal the 

2 identity of the person.’’. 

Æ 


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