I 
112TH CONGRESS 
1ST SESSION H. R. 1905 
To strengthen Iran sanctions laws for the purpose of compelling Iran to 
abandon its pursuit of nuclear weapons and other threatening activities, 
and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 13, 2011 
Ms. ROS-LEHTINEN (for herself, Mr. BERMAN, Mr. ROYCE, Mr. SHERMAN, 
Mr. BURTON of Indiana, Mr. DEUTCH, Mr. CHABOT, and Mr. ACKER-
MAN) introduced the following bill; which was referred to the Committee 
on Foreign Affairs, and in addition to the Committees on Financial Serv-
ices, Oversight and Government Reform, the Judiciary, and Ways and 
Means, for a period to be subsequently determined by the Speaker, in 
each case for consideration of such provisions as fall within the jurisdic-
tion of the committee concerned 
A BILL 
To strengthen Iran sanctions laws for the purpose of compel-
ling Iran to abandon its pursuit of nuclear weapons 
and other threatening activities, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 
(a) SHORT TITLE.—This Act may be cited as the 
‘‘Iran Threat Reduction Act of 2011’’. 
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(b) TABLE OF CONTENTS.—The table of contents for 
this Act is as follows: 
Sec. 1. Short title; table of contents. 
Sec. 2. Findings. 
Sec. 3. Statement of policy. 
TITLE I—IRAN ENERGY SANCTIONS 
Sec. 101. Findings. 
Sec. 102. Sense of Congress. 
Sec. 103. Declaration of policy. 
Sec. 104. Multilateral regime. 
Sec. 105. Imposition of sanctions. 
Sec. 106. Description of sanctions. 
Sec. 107. Advisory opinions. 
Sec. 108. Termination of sanctions. 
Sec. 109. Duration of sanctions. 
Sec. 110. Reports required. 
Sec. 111. Determinations not reviewable. 
Sec. 112. Exclusion of certain activities. 
Sec. 113. Definitions. 
Sec. 114. Effective date. 
Sec. 115. Repeal. 
TITLE II—IRAN FREEDOM SUPPORT 
Sec. 201. Codification of sanctions. 
Sec. 202. Declaration of Congress regarding United States policy toward Iran. 
Sec. 203. Assistance to support democracy in Iran. 
Sec. 204. Imposition of sanctions on certain persons who are responsible for or 
complicit in human rights abuses committed against citizens of 
Iran or their family members after the June 12, 2009, elec-
tions in Iran. 
Sec. 205. Comprehensive strategy to promote Internet freedom and access to 
information in Iran. 
TITLE III—IRAN REGIME AND IRAN REVOLUTIONARY GUARD 
CORPS ACCOUNTABILITY 
Sec. 301. Exportation of petroleum, oil, and natural gas produced by Iran’s Is-
lamic Revolutionary Guard Corps or its affiliates. 
Sec. 302. Iranian activities in Iraq and Afghanistan. 
Sec. 303. United States policy toward Iran. 
Sec. 304. Definitions. 
TITLE IV—IRAN FINANCIAL SANCTIONS; DIVESTMENT FROM 
CERTAIN COMPANIES THAT INVEST IN IRAN; AND PREVENTION 
OF DIVERSION OF CERTAIN GOODS, SERVICES, AND TECH-
NOLOGIES TO IRAN 
Sec. 401. Iran financial sanctions. 
Sec. 402. Divestment from certain companies that invest in Iran. 
Sec. 403. Prevention of diversion of certain goods, services, and technologies to 
Iran. 
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TITLE V—SECURITIES AND EXCHANGE COMMISSION 
Sec. 501. Disclosures to the Securities and Exchange Commission relating to 
sanctionable activities. 
TITLE VI—GENERAL PROVISIONS 
Sec. 601. Denial of visas for certain persons of the Government of Iran. 
Sec. 602. Sunset. 
SEC. 2. FINDINGS. 
Congress makes the following findings: 
(1) Successive administrations have clearly 
identified the unacceptability of the Iranian regime’s 
pursuit of nuclear weapons capabilities and the dan-
ger that pursuit presents to the United States, to 
our friends and allies, and to global security. 
(2) In May 1995, President Clinton stated that 
‘‘The specter of an Iran armed with weapons of 
mass destruction and the missiles to deliver them 
haunts not only Israel but the entire Middle East 
and ultimately all the rest of us as well. The United 
States and, I believe, all the Western nations have 
an overriding interest in containing the threat posed 
by Iran.’’. 
(3) In the 2006 State of the Union Address, 
President Bush stated that ‘‘The Iranian govern-
ment is defying the world with its nuclear ambitions, 
and the nations of the world must not permit the 
Iranian regime to gain nuclear weapons. America 
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will continue to rally the world to confront these 
threats.’’. 
(4) In February 2009, President Obama com-
mitted the Administration to ‘‘developing a strategy 
to use all elements of American power to prevent 
Iran from developing a nuclear weapon’’. 
(5) Iran is a major threat to U.S. national se-
curity interests, not only exemplified by Tehran’s 
nuclear program but also by its material assistance 
to armed groups in Iraq and Afghanistan, to the 
Palestinian group Hamas, to Lebanese Hezbollah, 
and to other extremists that seek to undermine re-
gional stability. These capabilities provide the regime 
with potential asymmetric delivery vehicles and 
mechanisms for nuclear or other unconventional 
weapons. 
(6) Iran’s growing inventory of ballistic missile 
and other destabilizing types of conventional weap-
ons provides the regime the capabilities to enhance 
its power projection throughout the region and un-
dermine the national security interests of the U.S. 
and its friends and allies. 
(7) Were Iran to achieve a nuclear weapons ca-
pability, it would, inter alia— 
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(A) likely lead to the proliferation of such 
weapons throughout the region, where several 
states have already indicated interest in nuclear 
programs, and would dramatically undercut 60 
years of U.S. efforts to stop the spread of nu-
clear weapons; 
(B) greatly increase the threat of nuclear 
terrorism; 
(C) significantly expand Iran’s already- 
growing influence in the region; 
(D) insulate the regime from international 
pressure, giving it wider scope further to op-
press its citizens and pursue aggression region-
ally and globally; 
(E) embolden all Iranian-supported ter-
rorist groups, including Hamas and Hezbollah; 
and 
(F) directly threaten several U.S. friends 
and allies, especially Israel, whose very right to 
exist has been denied successively by every lead-
er of the Islamic Republic of Iran and which 
Iranian President Ahmadinejad says should be 
‘‘wiped off the map’’. 
(8) Successive Congresses have clearly recog-
nized the threat that the Iranian regime and its poli-
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cies present to the United States, to our friends and 
allies, and to global security, and responded with 
successive bipartisan legislative initiatives. 
(9) The extent of the Iranian threat is greater 
today than when the Iran-Libya Sanctions Act was 
signed into law in 1996, now known as the Iran 
Sanction Act. That landmark legislation imposed 
sanctions on foreign companies investing in Iran’s 
energy infrastructure in an effort to undermine the 
strategic threat from Iran, by cutting off investment 
in its petroleum sector and thereby denying the re-
gime its economic lifeline and its ability to pursue a 
nuclear program. 
(10) Legislation like ILSA, which was re-titled 
the Iran Sanctions Act in 2006, paved the way for 
similar legislation, such as the Iran, North Korea 
and Syria Nonproliferation Act; the Iran-Iraq Arms 
Nonproliferation Act (2006); the Iran Freedom Sup-
port Act (2006); and the Comprehensive Iran Sanc-
tions, Accountability, and Divestment Act (2010). 
(11) U.S. sanctions on Iran have hindered 
Iran’s ability to attract capital, material, and tech-
nical support for its petroleum sector, creating fi-
nancial difficulties for the regime. 
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(12) In the Joint Explanatory Statement of the 
Committee of Conference to the Comprehensive Iran 
Sanctions, Accountability, and Divestment Act of 
2010 (CISADA) (Public Law 111–195; 50 U.S.C. 
1701 note) issued on June 23, 2010, the Members 
of the Committee of Conference noted that ‘‘Al-
though [the Iran Sanctions Act] was enacted more 
than a decade ago, no Administration has sanctioned 
a foreign entity for investing $20 million or more in 
Iran’s energy sector, despite a number of such in-
vestments. Indeed, on only one occasion, in 1998, 
did the Administration make a determination re-
garding a sanctions-triggering investment, but the 
Administration waived sanctions against the offend-
ing persons. Conferees believe that the lack of en-
forcement of relevant enacted sanctions may have 
served to encourage rather than deter Iran’s efforts 
to pursue nuclear weapons.’’. 
(13) The Joint Explanatory Statement also 
noted that ‘‘The effectiveness of this Act will depend 
on its forceful implementation. The Conferees urge 
the President to vigorously impose the sanctions pro-
vided for in this Act.’’. 
(14) The Comprehensive Iran Sanctions, Ac-
countability, and Divestment Act of 2010 mandates 
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(among other provisions) that the President initiate 
investigations of potentially sanctionable activity 
under the Iran Sanctions Act (Public Law 104–172; 
50 U.S.C. 1701 note). Although more than 6 
months have passed since enactment of this legisla-
tion, Congress has not received notice of the imposi-
tion of sanctions on any entities that do significant 
business in the U.S., despite multiple reports of po-
tentially sanctionable activity by such entities. Al-
though, in accordance with CISADA, some poten-
tially sanctionable entities have been persuaded to 
wind down and end their involvement in Iran, others 
have not. In fact, since CISADA became law, only 
two entities have been sanctioned, neither of which 
does business in the U.S. and both of which are 
therefore largely untouched by the sanctions. 
(15) It is unlikely that Iran can be compelled 
to abandon its pursuit of nuclear weapons unless 
sanctions are fully and effectively implemented. 
SEC. 3. STATEMENT OF POLICY. 
It shall be the policy of the United States to— 
(1) prevent Iran from— 
(A) acquiring or developing nuclear weap-
ons and associated delivery capabilities; 
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(B) developing its unconventional weapons 
and ballistic missile capabilities; and 
(C) continuing its support for Foreign Ter-
rorist Organizations and other activities aimed 
at undermining and destabilizing its neighbors 
and other nations; and 
(2) fully implement all multilateral and bilateral 
sanctions against Iran in order to compel the Gov-
ernment of Iran to— 
(A) abandon and verifiably dismantle its 
nuclear capabilities; 
(B) abandon and verifiably dismantle its 
ballistic missile and unconventional weapons 
programs; and 
(C) cease all support for Foreign Terrorist 
Organizations and other activities aimed at un-
dermining and destabilizing its neighbors and 
other nations. 
TITLE I—IRAN ENERGY 
SANCTIONS 
SEC. 101. FINDINGS. 
Congress makes the following findings: 
(1) The efforts of the Government of Iran to 
achieve nuclear weapons capability and to acquire 
other unconventional weapons and the means to de-
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liver them, both through ballistic-missile and asym-
metric means, and its support for foreign terrorist 
organizations and other extremists endanger the na-
tional security and foreign policy interests of the 
United States and those countries with which the 
United States shares common strategic and foreign 
policy objectives. 
(2) The objectives of preventing the prolifera-
tion of nuclear and other unconventional weapons 
and countering the activities of foreign terrorist or-
ganizations and other extremists through existing 
multilateral and bilateral initiatives require further 
efforts to deny Iran the financial means to sustain 
its nuclear, chemical, biological, and missile weapons 
programs and its active support for terrorism. 
(3) The Government of Iran uses its diplomatic 
facilities and quasi-governmental institutions outside 
of Iran to support foreign terrorist organizations 
and other extremists, and assist its unconventional 
weapons and missile programs, including its nuclear 
program. 
SEC. 102. SENSE OF CONGRESS. 
It is the sense of Congress that the goal of compelling 
Iran to abandon its pursuit of nuclear weapons and other 
threatening activities can be achieved most effectively 
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through full implementation of all sanctions enacted into 
law, including those sanctions set out in this title. 
SEC. 103. DECLARATION OF POLICY. 
Congress declares that it is the policy of the United 
States to deny Iran the ability to support acts of foreign 
terrorist organizations and extremists and develop uncon-
ventional weapons and ballistic missiles. A critical means 
of achieving that goal is sanctions that limit Iran’s ability 
to develop its energy resources, including its ability to ex-
plore for, extract, refine, and transport by pipeline its hy-
drocarbon resources, in order to limit the funds Iran has 
available for pursuing its objectionable activities. 
SEC. 104. MULTILATERAL REGIME. 
(a) MULTILATERAL NEGOTIATIONS.—In order to 
further the objectives of section 103, Congress urges the 
President immediately to initiate diplomatic efforts, both 
in appropriate international fora such as the United Na-
tions, and bilaterally with allies of the United States, to 
expand the multilateral sanctions regime regarding Iran, 
including— 
(1) qualitatively expanding the United Nations 
Security Council sanctions regime against Iran; 
(2) qualitatively expanding the range of sanc-
tions by the European Union, South Korea, Japan, 
Australia, and other key United States allies; 
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(3) further efforts to limit Iran’s development 
of petroleum resources and import of refined petro-
leum; and 
(4) initiatives aimed at increasing non-Iranian 
crude oil product output for current purchasers of 
Iranian petroleum and petroleum byproducts. 
(b) REPORTS TO CONGRESS.—Not later than 180 
days after the date of the enactment of this Act, and annu-
ally thereafter, the President shall submit to the appro-
priate congressional committees a report on the extent to 
which diplomatic efforts described in subsection (a) have 
been successful. Each report shall include— 
(1) the countries that have agreed to undertake 
measures to further the objectives of section 103 
with respect to Iran, and a description of those 
measures; and 
(2) the countries that have not agreed to meas-
ures described in paragraph (1), and, with respect to 
those countries, other measures the President rec-
ommends that the United States take to further the 
objectives of section 103 with respect to Iran. 
(c) INTERIM REPORT
ON MULTILATERAL SANC-
TIONS; MONITORING.—Not later than 90 days after the 
date of the enactment of this Act, the President shall sub-
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mit to the appropriate congressional committees a report 
on— 
(1) the countries that have established legisla-
tive or administrative standards providing for the 
imposition of trade sanctions on persons or their af-
filiates that conduct business or have investments in 
Iran; 
(2) the extent and duration of each instance of 
the application of such sanctions; and 
(3) the disposition of any decision with respect 
to such sanctions by the World Trade Organization 
or its predecessor organization. 
(d) INVESTIGATIONS.— 
(1) IN GENERAL.—The President shall initiate 
an investigation into the possible imposition of sanc-
tions under section 105 against a person upon re-
ceipt by the United States of credible information 
indicating that such person is engaged in an activity 
described in such section. 
(2) DETERMINATION AND NOTIFICATION.—Not 
later than 180 days after the date on which an in-
vestigation is initiated under paragraph (1), the 
President shall (unless paragraph (6) applies) deter-
mine, pursuant to section 105, if a person has en-
gaged in an activity described in such section and 
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shall notify the appropriate congressional committees 
of the basis for any such determination. 
(3) BRIEFING.— 
(A) IN GENERAL.—Not later than 30 days 
after the date of the enactment of this Act, and 
at the end of every three-month period there-
after, the President, acting through the Sec-
retary of State, shall brief the appropriate con-
gressional committees regarding investigations 
initiated under this subsection. 
(B) FORM.—The briefings required under 
subparagraph (A) shall be provided in unclassi-
fied form, but may be provided in classified 
form. 
(4) SUBMISSION OF INFORMATION.— 
(A) IN GENERAL.—The Secretary of State 
shall, in accordance with section 15(b) of the 
State Department Basic Authorities Act of 
1956 (22 U.S.C. 2680(b)), provide to the ap-
propriate congressional committees all re-
quested information relating to investigations or 
reviews initiated under this title. 
(B) FORM.—The information required 
under subparagraph (A) shall be provided in 
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unclassified form, but may contain a classified 
annex. 
(5) TERMINATION.—Subject to paragraph (6), 
the President may, on a case-by-case basis, termi-
nate an investigation of a person initiated under this 
subsection. 
(6) SPECIAL RULE.— 
(A) IN GENERAL.—The President need not 
initiate an investigation, and may terminate an 
investigation, on a case-by-case basis under this 
subsection if the President certifies in writing 
in to the appropriate congressional committees 
15 days prior to the determination that— 
(i) the person whose activity was the 
basis for the investigation is no longer en-
gaging in the activity or is divesting all 
holdings and terminating the activity with-
in one year from the date of the certifi-
cation; and 
(ii) the President has received reliable 
assurances that the person will not know-
ingly engage in an activity described in 
section 105(a) in the future. 
(B) APPLICATION
OF
SANCTIONS.—The 
President shall apply the sanctions described in 
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section 106(a) in accordance with section 
105(a) to a person described in subparagraph 
(A) of this paragraph if the person fails to 
verifiably divest all holdings and terminate the 
activity described in subparagraph (A) of this 
paragraph within one year from the date of cer-
tification. 
SEC. 105. IMPOSITION OF SANCTIONS. 
(a) SANCTIONS WITH RESPECT TO THE DEVELOP-
MENT OF PETROLEUM RESOURCES OF IRAN, PRODUC-
TION OF REFINED PETROLEUM PRODUCTS IN IRAN, AND 
EXPORTATION OF REFINED PETROLEUM PRODUCTS TO 
IRAN.— 
(1) DEVELOPMENT OF PETROLEUM RESOURCES 
OF IRAN.— 
(A) IN GENERAL.—Except as provided in 
subsection (f), the President shall impose a ma-
jority of the sanctions described in section 
106(a) with respect to a person if the President 
determines that the person knowingly, on or 
after the date of the enactment of this Act— 
(i) makes an investment described in 
subparagraph (B) of $20,000,000 or more; 
or 
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(ii) makes a combination of invest-
ments described in subparagraph (B) in a 
12-month period if each such investment is 
of at least $5,000,000 and such invest-
ments equal or exceed $20,000,000 in the 
aggregate. 
(B) INVESTMENT DESCRIBED.—An invest-
ment described in this subparagraph is an in-
vestment that directly and significantly contrib-
utes to the enhancement of Iran’s ability to de-
velop petroleum resources. 
(2) PRODUCTION
OF
REFINED
PETROLEUM 
PRODUCTS.— 
(A) IN GENERAL.—Except as provided in 
subsection (f), the President shall impose a ma-
jority of the sanctions described in section 
106(a) with respect to a person if the President 
determines that the person knowingly, on or 
after the date of the enactment this Act, sells, 
leases, or provides to Iran goods, services, tech-
nology, information, or support described in 
subparagraph (B)— 
(i) any of which has a fair market 
value of $1,000,000 or more; or 
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(ii) that, during a 12-month period, 
have an aggregate fair market value of 
$5,000,000 or more. 
(B) GOODS, SERVICES, TECHNOLOGY, IN-
FORMATION, OR SUPPORT DESCRIBED.—Goods, 
services, technology, information, or support de-
scribed in this subparagraph are goods, serv-
ices, technology, information, or support that 
could directly and significantly facilitate the 
maintenance or expansion of Iran’s domestic 
production of refined petroleum products, in-
cluding any direct and significant assistance 
with respect to the construction, modernization, 
or repair of petroleum refineries or associated 
infrastructure, including construction of port 
facilities, railways, and roads, the primary use 
of which is to support the delivery of refined pe-
troleum products. 
(3) EXPORTATION
OF
REFINED
PETROLEUM 
PRODUCTS TO IRAN.— 
(A) IN GENERAL.—Except as provided in 
subsection (f), the President shall impose a ma-
jority of the sanctions described in section 
106(a) with respect to a person if the President 
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(i) except as provided in subparagraph 
(C), underwriting or entering into a con-
tract to provide insurance or reinsurance 
for the sale, lease, or provision of such 
goods, services, service contracts, tech-
nology, information, or support; 
(ii) financing or brokering such sale, 
lease, or provision; 
(iii) purchasing, subscribing to, or fa-
cilitating the issuance of Iranian sovereign 
debt; or 
(iv) providing ships or shipping serv-
ices. 
(C) EXCEPTION FOR UNDERWRITERS AND 
INSURANCE PROVIDERS EXERCISING DUE DILI-
GENCE.—The President may not impose sanc-
tions under this paragraph with respect to a 
person that provides underwriting services or 
insurance or reinsurance if the President deter-
mines that the person has exercised due dili-
gence in establishing and enforcing official poli-
cies, procedures, and controls to ensure that the 
person does not underwrite or enter into a con-
tract to provide insurance or reinsurance for 
the sale, lease, or provision of goods, services, 
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technology, information, or support described in 
subparagraph (B). 
(b) MANDATORY SANCTIONS WITH RESPECT TO DE-
VELOPMENT OF WEAPONS OF MASS DESTRUCTION OR 
OTHER MILITARY CAPABILITIES.— 
(1) IN GENERAL.—The President shall impose 
a majority of the sanctions described in section 
106(a) if the President determines that a person, on 
or after the date of the enactment of this Act, has 
knowingly exported, transferred, permitted, hosted, 
or otherwise facilitated transshipment that may have 
enabled a person to export, transfer, or transship to 
Iran or otherwise provided to Iran any goods, serv-
ices, technology, or other items that would con-
tribute materially to the ability of Iran to— 
(A) acquire or develop chemical, biological, 
or nuclear weapons or related technologies; or 
(B) acquire or develop destabilizing num-
bers and types of advanced conventional weap-
ons. 
(2) ADDITIONAL
MANDATORY
SANCTIONS
RE-
LATING TO TRANSFER OF NUCLEAR TECHNOLOGY.— 
(A) IN GENERAL.—Except as provided in 
subparagraphs (B) and (C), in any case in 
which a person is subject to sanctions under 
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paragraph (1) because of an activity described 
in that paragraph that relates to the acquisition 
or development of nuclear weapons or related 
technology or of missiles or advanced conven-
tional weapons that are designed or modified to 
deliver a nuclear weapon, no license may be 
issued for the export, and no approval may be 
given for the transfer or retransfer, directly or 
indirectly, to the country the government of 
which has primary jurisdiction over the person, 
of any nuclear material, facilities, components, 
or other goods, services, or technology that are 
or would be subject to an agreement for co-
operation between the United States and that 
government. 
(B) EXCEPTION.—The sanctions described 
in subparagraph (A) shall not apply with re-
spect to a country the government of which has 
primary jurisdiction over a person that engages 
in an activity described in that subparagraph if 
the President determines and notifies the ap-
propriate congressional committees that the 
government of the country— 
(i) does not know or have reason to 
know about the activity; or 
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(ii) has taken, or is taking, all reason-
able steps necessary to prevent a recur-
rence of the activity and to penalize the 
person for the activity. 
(C) 
INDIVIDUAL
APPROVAL.—Notwith-
standing subparagraph (A), the President may, 
on a case-by-case basis, approve the issuance of 
a license for the export, or approve the transfer 
or retransfer, of any nuclear material, facilities, 
components, or other goods, services, or tech-
nology that are or would be subject to an agree-
ment for cooperation, to a person in a country 
to which subparagraph (A) applies (other than 
a person that is subject to the sanctions under 
paragraph (1)) if the President— 
(i) determines that such approval is 
vital to the national security interests of 
the United States; and 
(ii) not later than 15 days before 
issuing such license or approving such 
transfer or retransfer, submits to the Com-
mittee on Foreign Affairs of the House of 
Representatives and the Committee on 
Foreign Relations of the Senate the jus-
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tification for approving such license, trans-
fer, or retransfer. 
(D) CONSTRUCTION.—The restrictions in 
subparagraph (A) shall apply in addition to all 
other applicable procedures, requirements, and 
restrictions contained in the Atomic Energy Act 
of 1954 and other related laws. 
(E) DEFINITION.—In this paragraph, the 
term ‘‘agreement for cooperation’’ has the 
meaning given that term in section 11 b. of the 
Atomic Energy Act of 1954 (42 U.S.C. 
2014(b)). 
(F) APPLICABILITY.—The sanctions de-
scribed in subparagraph (A) shall apply only in 
a case in which a person is subject to sanctions 
under paragraph (1) because of an activity de-
scribed in such paragraph in which such person 
engages on or after the date of the enactment 
of this Act. 
(c) PERSONS AGAINST WHICH THE SANCTIONS ARE 
TO BE IMPOSED.—The sanctions described in subsections 
(a) and (b)(1) shall be imposed on— 
(1) any person the President determines has 
carried out the activities described in subsection (a) 
or (b), respectively; and 
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(2) any person that— 
(A) is a successor entity to the person re-
ferred to in paragraph (1); 
(B) owns or controls the person referred to 
in paragraph (1), if the person that owns or 
controls the person referred to in paragraph (1) 
had actual knowledge or should have known 
that the person referred to in paragraph (1) en-
gaged in the activities referred to in that para-
graph; or 
(C) is owned or controlled by, or under 
common ownership or control with, the person 
referred to in paragraph (1), if the person 
owned or controlled by, or under common own-
ership or control with (as the case may be), the 
person referred to in paragraph (1) knowingly 
engaged in the activities referred to in that 
paragraph. 
For purposes of this title, any person or entity de-
scribed in this subsection shall be referred to as a 
‘‘sanctioned person’’. 
(d) PUBLICATION
IN FEDERAL REGISTER.—The 
President shall cause to be published in the Federal Reg-
ister a current list of persons and entities on whom sanc-
tions have been imposed under this title. The removal of 
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persons or entities from, and the addition of persons and 
entities to, the list, shall also be so published. 
(e) PUBLICATION
OF PROJECTS.—The President 
shall cause to be published in the Federal Register a list 
of all significant projects that have been publicly tendered 
in the oil and gas sector in Iran. 
(f) EXCEPTIONS.—The President shall not be re-
quired to apply or maintain the sanctions under subsection 
(a) or (b)— 
(1) in the case of procurement of defense arti-
cles or defense services— 
(A) under existing contracts or sub-
contracts, including the exercise of options for 
production quantities to satisfy requirements 
essential to the national security of the United 
States; 
(B) if the President determines in writing 
that the person to which the sanctions would 
otherwise be applied is a sole source supplier of 
the defense articles or services, that the defense 
articles or services are essential, and that alter-
native sources are not readily or reasonably 
available; or 
(C) if the President determines in writing 
that such articles or services are essential to the 
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national security under defense coproduction 
agreements; 
(2) in the case of procurement, to eligible prod-
ucts, as defined in section 308(4) of the Trade 
Agreements Act of 1979 (19 U.S.C. 2518(4)), of 
any foreign country or instrumentality designated 
under section 301(b) of that Act (19 U.S.C. 
2511(b)); 
(3) to products, technology, or services provided 
under contracts entered into before the date on 
which the President publishes in the Federal Reg-
ister the name of the person on whom the sanctions 
are to be imposed; 
(4) to— 
(A) spare parts which are essential to 
United States products or production; 
(B) component parts, but not finished 
products, essential to United States products or 
production; or 
(C) routine servicing and maintenance of 
products, to the extent that alternative sources 
are not readily or reasonably available; 
(5) to information and technology essential to 
United States products or production; or 
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(6) to medicines, medical supplies, or other hu-
manitarian items. 
SEC. 106. DESCRIPTION OF SANCTIONS. 
(a) IN GENERAL.—The sanctions to be imposed on 
a sanctioned person under section 105 are as follows: 
(1) EXPORT-IMPORT
BANK
ASSISTANCE
FOR 
EXPORTS TO SANCTIONED PERSONS.—The President 
may direct the Export-Import Bank of the United 
States to not give approval to for the issuance of 
any guarantee, insurance, extension of credit, or 
participation in the extension of credit in connection 
with the export of any goods or services to any sanc-
tioned person. 
(2) EXPORT SANCTION.—Except as provided in 
subparagraph (B), the President may order the 
United States Government not to issue any specific 
license and not to grant any other specific permis-
sion or authority to export any goods or technology 
to a sanctioned person under— 
(A) the Export Administration Act of 1979 
(as continued in effect pursuant to the Inter-
national Emergency Economic Powers Act); 
(B) the Arms Export Control Act; 
(C) the Atomic Energy Act of 1954; or 
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(D) any other law that requires the prior 
review and approval of the United States Gov-
ernment as a condition for the export or re-ex-
port of goods or services. 
(3) LOANS FROM UNITED STATES FINANCIAL 
INSTITUTIONS.—The United States Government 
may prohibit any United States financial institution 
from making loans or providing credits to any sanc-
tioned person totaling more than $10,000,000 in 
any 12-month period unless such person is engaged 
in activities to relieve human suffering and the loans 
or credits are provided for such activities. 
(4) PROHIBITIONS
ON
FINANCIAL
INSTITU-
TIONS.—The following prohibitions may be imposed 
against a sanctioned person that is a financial insti-
tution: 
(A) PROHIBITION
ON
DESIGNATION
AS 
PRIMARY DEALER.—Neither the Board of Gov-
ernors of the Federal Reserve System nor the 
Federal Reserve Bank of New York may des-
ignate, or permit the continuation of any prior 
designation of, such financial institution as a 
primary dealer in United States Government 
debt instruments. 
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(B) PROHIBITION ON SERVICE AS A RE-
POSITORY OF GOVERNMENT FUNDS.—Such fi-
nancial institution may not serve as agent of 
the United States Government or serve as re-
pository for United States Government funds. 
The imposition of either sanction under subpara-
graph (A) or (B) shall be treated as one sanction for 
purposes of section 105, and the imposition of both 
such sanctions shall be treated as two sanctions for 
purposes of section 105. 
(5) PROCUREMENT
SANCTION.—The United 
States Government may not procure, or enter into 
any contract for the procurement of, any goods or 
services from a sanctioned person. 
(6) FOREIGN EXCHANGE.—The President may 
prohibit any transactions in foreign exchange that 
are subject to the jurisdiction of the United States 
and in which the sanctioned person has any interest. 
(7) BANKING
TRANSACTIONS.—The President 
may prohibit any transfers of credit or payments be-
tween financial institutions or by, through, or to any 
financial institution, to the extent that such trans-
fers or payments are subject to the jurisdiction of 
the United States and involve any interest of the 
sanctioned person. 
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(8) PROPERTY TRANSACTIONS.—The President 
may prohibit any person from— 
(A) acquiring, holding, withholding, using, 
transferring, withdrawing, transporting, import-
ing, or exporting any property that is subject to 
the jurisdiction of the United States and with 
respect to which a sanctioned person has any 
interest; 
(B) dealing in or exercising any right, 
power, or privilege with respect to such prop-
erty; or 
(C) conducting any transaction involving 
such property. 
(9) GROUNDS FOR EXCLUSION.—The Secretary 
of State may deny a visa to, and the Secretary of 
Homeland Security may exclude from the United 
States, any alien whom the Secretary of State deter-
mines is an alien who, on or after the date of the 
enactment of this Act, is a— 
(A) corporate officer, principal, or share-
holder with a controlling interest of a person 
against whom sanctions have been imposed 
under subsection (a) or (b); 
(B) corporate officer, principal, or share-
holder with a controlling interest of a successor 
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entity to or a parent or subsidiary of such a 
sanctioned person; 
(C) corporate officer, principal, or share-
holder with a controlling interest of an affiliate 
of such a sanctioned person, if such affiliate en-
gaged in a sanctionable activity described in 
subsection (a) or (b) and if such affiliate is con-
trolled in fact by such sanctioned person; or 
(D) spouse, minor child, or agent of a per-
son excludable under subparagraph (A), (B), or 
(C). 
(10) SANCTIONS ON PRINCIPAL EXECUTIVE OF-
FICERS.—The President may impose on the prin-
cipal executive officer or officers of any sanctioned 
person, or on persons performing similar functions 
and with similar authorities as such officer or offi-
cers, any of the sanctions under this subsection. The 
President shall include on the list published under 
section 105(d) the name of any person against 
whom sanctions are imposed under this paragraph. 
(11) ADDITIONAL SANCTIONS.—The President 
shall impose sanctions, as appropriate, to restrict 
imports with respect to a sanctioned person, in ac-
cordance with the International Emergency Eco-
nomic Powers Act (50 U.S.C. 1701 et seq.). 
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(b) ADDITIONAL MEASURE RELATING TO GOVERN-
MENT CONTRACTS.— 
(1) MODIFICATION OF FEDERAL ACQUISITION 
REGULATION.—The Federal Acquisition Regulation 
issued pursuant to section 25 of the Office of Fed-
eral Procurement Policy Act (41 U.S.C. 421) shall 
require a certification from each person that is a 
prospective contractor that such person does not en-
gage in any activity for which sanctions may be im-
posed under section 105. 
(2) REMEDIES.— 
(A) IN GENERAL.—If the head of an exec-
utive agency determines that a person has sub-
mitted a false certification under paragraph (1) 
after the date on which the Federal Acquisition 
Regulation is revised to implement the require-
ments of this subsection, the head of that exec-
utive agency shall terminate a contract with 
such person or debar or suspend such person 
from eligibility for Federal contracts for a pe-
riod of not more than three years. Any such de-
barment or suspension shall be subject to the 
procedures that apply to debarment and sus-
pension under the Federal Acquisition Regula-
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tion under subpart 9.4 of part 9 of title 48, 
Code of Federal Regulations. 
(B) INCLUSION ON LIST OF PARTIES EX-
CLUDED
FROM
FEDERAL
PROCUREMENT
AND 
NONPROCUREMENT PROGRAMS.—The Adminis-
trator of General Services shall include on the 
List of Parties Excluded from Federal Procure-
ment and Nonprocurement Programs main-
tained by the Administrator under part 9 of the 
Federal Acquisition Regulation issued pursuant 
to section 25 of the Office of Federal Procure-
ment Policy Act (41 U.S.C. 421) each person 
that is debarred, suspended, or proposed for de-
barment or suspension by the head of an execu-
tive agency on the basis of a determination of 
a false certification under subparagraph (A). 
(3) CLARIFICATION REGARDING CERTAIN PROD-
UCTS.—The remedies specified in paragraph (2) 
shall not apply with respect to the procurement of 
eligible products, as defined in section 308(4) of the 
Trade Agreements Act of 1974 (19 U.S.C. 2518(4)), 
of any foreign country or instrumentality designated 
under section 301(b) of such Act (19 U.S.C. 
2511(b)). 
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(4) RULE OF CONSTRUCTION.—This subsection 
shall not be construed to limit the use of other rem-
edies available to the head of an executive agency or 
any other official of the Federal Government on the 
basis of a determination of a false certification 
under paragraph (1). 
(5) WAIVER.—The President may, on a case- 
by-case basis, waive the requirement that a person 
make a certification under paragraph (1) if the 
President determines and certifies in writing to the 
appropriate congressional committees that it is in 
the national interest of the United States to do so. 
(6) EXECUTIVE
AGENCY
DEFINED.—In this 
subsection, the term ‘‘executive agency’’ has the 
meaning given such term in section 104 of the Office 
of Federal Procurement Policy Act (41 U.S.C. 403). 
(7) APPLICABILITY.—The revisions to the Fed-
eral Acquisition Regulation required under para-
graph (1) shall apply with respect to contracts for 
which solicitations are issued on or after the date 
that is 90 days after the date of the enactment of 
this Act. 
SEC. 107. ADVISORY OPINIONS. 
The Secretary of State may, upon the request of any 
person, issue an advisory opinion to such person as to 
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whether a proposed activity by such person would subject 
such person to sanctions under this title. Any person who 
relies in good faith on such an advisory opinion which 
states that such proposed activity would not subject such 
person to such sanctions, and any such person who there-
after engages in such activity, shall not be made subject 
to such sanctions on account of such activity. 
SEC. 108. TERMINATION OF SANCTIONS. 
(a) CERTIFICATION.—The requirement under section 
105 to impose sanctions shall no longer have force or ef-
fect with respect to Iran if the President determines and 
certifies to the appropriate congressional committees that 
Iran— 
(1) has ceased and verifiably dismantled its ef-
forts to design, develop, manufacture, or acquire— 
(A) a nuclear explosive device or related 
materials and technology; 
(B) chemical and biological weapons; and 
(C) ballistic missiles and ballistic missile 
launch technology; 
(2) no longer provides support for acts of inter-
national terrorism; and 
(3) poses no threat to the national security, in-
terests, or allies of the United States. 
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activities that resulted in the determination by the 
President under section 105 concerning such foreign 
person and the foreign person is no longer engaged 
in such activities. 
(b) DURATION OF SANCTIONS.—A sanction imposed 
under section 105 shall remain in effect— 
(1) for a period of not less than two years be-
ginning on the date on which such sanction is im-
posed; or 
(2) until such time as the President determines 
and certifies to Congress that the person whose ac-
tivities were the basis for imposing such sanction is 
no longer engaging in such activities and that the 
President has received reliable assurances that such 
person will not knowingly engage in such activities 
in the future, except that such sanction shall remain 
in effect for a period of at least one year. 
(c) WAIVER.— 
(1) AUTHORIZATION.— 
(A) IN
GENERAL.—The President may 
waive the requirements in section 105(a) or 
105(b)(2) to impose a sanction or sanctions, 
and may waive, on a case-by-case basis, the 
continued imposition of a sanction or sanctions 
under subsection (b) of this section, if the 
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