SEC. 3. AMENDMENTS TO THE IRAN SANCTIONS ACT OF 
1996. 
(a) EXPANSION OF SANCTIONS.—Section 5(a) of the 
Iran Sanctions Act of 1996 (50 U.S.C. 1701 note) is 
amended to read as follows: 
‘‘(a) SANCTIONS WITH RESPECT TO THE DEVELOP-
MENT OF PETROLEUM RESOURCES OF IRAN AND EXPOR-
TATION OF REFINED PETROLEUM TO IRAN.— 
‘‘(1) 
DEVELOPMENT
OF
PETROLEUM
RE-
SOURCES OF IRAN.— 
‘‘(A) INVESTMENT.—Except as provided in 
subsection (f), the President shall impose 2 or 
more of the sanctions described in paragraphs 
(1) through (6) of section 6(a) if the President 
determines that a person has, with actual 
knowledge, on or after the date of the enact-
ment of this Act, made an investment of 
$20,000,000 or more (or any combination of in-
vestments of at least $5,000,000 each, which in 
the aggregate equals or exceeds $20,000,000 in 
any 12-month period), that directly and signifi-
cantly contributed to the enhancement of Iran’s 
ability to develop petroleum resources of Iran. 
‘‘(B) PRODUCTION
OF
REFINED
PETRO-
LEUM RESOURCES.—Except as provided in sub-
section (f), the President shall impose the sanc-
VerDate Nov 24 2008 
02:42 May 02, 2009
Jkt 079200
PO 00000
Frm 00006
Fmt 6652
Sfmt 6201
E:\BILLS\H2194.IH
H2194
jbell on PROD1PC69 with BILLS
tions described in section 6(b) (in addition to 
any sanctions imposed under subparagraph (A)) 
if the President determines that a person has, 
with actual knowledge, on or after the date of 
the enactment of the Iran Refined Petroleum 
Sanctions Act of 2009, sold, leased, or provided 
to Iran any goods, services, technology, infor-
mation, or support that would allow Iran to 
maintain or expand its domestic production of 
refined petroleum resources, including any as-
sistance in refinery construction, modernization, 
or repair. 
‘‘(2) EXPORTATION OF REFINED PETROLEUM 
RESOURCES TO IRAN.—Except as provided in sub-
section (f), the President shall impose the sanctions 
described in section 6(b) if the President determines 
that a person has, with actual knowledge, on or after 
the date of the enactment of the Iran Refined Petro-
leum Sanctions Act of 2009, provided Iran with re-
fined petroleum resources or engaged in any activity 
that could contribute to the enhancement of Iran’s 
ability to import refined petroleum resources, includ-
ing— 
‘‘(A) providing ships or shipping services 
to deliver refined petroleum resources to Iran; 
VerDate Nov 24 2008 
02:42 May 02, 2009
Jkt 079200
PO 00000
Frm 00007
Fmt 6652
Sfmt 6201
E:\BILLS\H2194.IH
H2194
jbell on PROD1PC69 with BILLS
‘‘(B) underwriting or otherwise providing 
insurance or reinsurance for such activity; or 
‘‘(C) financing or brokering such activity.’’. 
(b) DESCRIPTION OF SANCTIONS.—Section 6 of such 
Act is amended— 
(1) by striking ‘‘The sanctions to be imposed on 
a sanctioned person under section 5 are as follows:’’ 
and inserting the following: 
‘‘(a) IN GENERAL.—The sanctions to be imposed on 
a sanctioned person under subsections (a)(1)(A) and (b) 
of section 5 are as follows:’’; and 
(2) by adding at the end the following: 
‘‘(b) ADDITIONAL SANCTIONS.—The sanctions to be 
imposed on a sanctioned person under paragraphs (1)(B) 
and (2) of section 5(a) are as follows: 
‘‘(1) FOREIGN
EXCHANGE.—The President 
shall, under such regulations as the President may 
prescribe, prohibit any transactions in foreign ex-
change by the sanctioned person. 
‘‘(2) BANKING TRANSACTIONS.—The President 
shall, under such regulations as the President may 
prescribe, prohibit any transfers of credit or pay-
ments between, by, through, or to any financial in-
stitution, to the extent that such transfers or pay-
ments involve any interest of the sanctioned person. 
VerDate Nov 24 2008 
02:42 May 02, 2009
Jkt 079200
PO 00000
Frm 00008
Fmt 6652
Sfmt 6201
E:\BILLS\H2194.IH
H2194
jbell on PROD1PC69 with BILLS
‘‘(3) PROPERTY
TRANSACTIONS.—The Presi-
dent shall, under such regulations as the President 
may prescribe, prohibit any acquisition, holding, 
withholding, use, transfer, withdrawal, transpor-
tation, importation, or exportation of, dealing in, or 
exercising any right, power, or privilege with respect 
to, or transactions involving, any property in which 
the sanctioned person has any interest by any per-
son, or with respect to any property, subject to the 
jurisdiction of the United States.’’. 
(c) PRESIDENTIAL WAIVER.—Section 9(c)(2) of such 
Act is amended by amending subparagraph (C) to read 
as follows: 
‘‘(C) an estimate of the significance of the 
provision of the items described in paragraph 
(1) or (2) of section 5(a) or section 5(b) to 
Iran’s ability to develop its petroleum resources, 
to maintain or expand its domestic production 
of refined petroleum resources, to import re-
fined petroleum resources, or to develop its 
weapons of mass destruction or other military 
capabilities (as the case may be); and’’. 
(d) STRENGTHENING OF WAIVER AUTHORITY AND 
SANCTIONS IMPLEMENTATION.— 
VerDate Nov 24 2008 
02:42 May 02, 2009
Jkt 079200
PO 00000
Frm 00009
Fmt 6652
Sfmt 6201
E:\BILLS\H2194.IH
H2194
jbell on PROD1PC69 with BILLS
(1) INVESTIGATIONS.—Section 4(f) of the Iran 
Sanctions Act of 1996 (50 U.S.C. 1701 note) is 
amended— 
(A) in paragraph (1)— 
(i) by striking ‘‘should initiate’’ and 
inserting ‘‘shall immediately initiate’’; 
(ii) by inserting ‘‘or 5(b)’’ after ‘‘sec-
tion 5(a)’’; and 
(iii) by striking ‘‘as described in such 
section’’ and inserting ‘‘as described in sec-
tion 5(a)(1) or other activity described in 
section 5(a)(2) or 5(b) (as the case may 
be)’’; 
(B) in paragraph (2), by striking ‘‘, pursu-
ant to section 5(a), if a person has engaged in 
investment activity in Iran as described in such 
section’’ and inserting ‘‘, pursuant to section 
5(a) or (b) (as the case may be), if a person 
has engaged in investment activity in Iran as 
described in section 5(a)(1) or other activity de-
scribed in section 5(a)(2) or 5(b) (as the case 
may be)’’; and 
(C) by adding at the end the following new 
paragraph: 
VerDate Nov 24 2008 
02:42 May 02, 2009
Jkt 079200
PO 00000
Frm 00010
Fmt 6652
Sfmt 6201
E:\BILLS\H2194.IH
H2194
jbell on PROD1PC69 with BILLS