I 
118TH CONGRESS 
1ST SESSION H. R. 6120 
To restore and require the imposition of certain sanctions previously waived 
with respect to Iran, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
OCTOBER 30, 2023 
Mr. MEUSER introduced the following bill; which was referred to the Com-
mittee 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 jurisdic-
tion of the committee concerned 
A BILL 
To restore and require the imposition of certain sanctions 
previously waived with respect to Iran, 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. 
This Act may be cited as the ‘‘Negating Opportuni-
ties for Oil Income Leveraged for Terrorists Act’’ or the 
‘‘NO OIL for Terrorists Act’’. 
SEC. 2. FINDINGS. 
Congress finds the following: 
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(1) The Islamic Republic of Iran continues to 
engage in serious violations of its international obli-
gations. 
(2) The Government of Iran provides funding, 
material support, and resources to terrorist organi-
zations, including Hamas, which conducts terrorist 
attacks against Israel. 
(3) The actions of the Government of Iran pose 
an ongoing threat to the national security of the 
United States, our allies, and international stability. 
(4) The reimposition of sanctions is a necessary 
and appropriate measure to counter Iran’s desta-
bilizing activities and encourage Iran’s compliance 
with international obligations. 
SEC. 3. REIMPOSITION OF SANCTIONS. 
(a) OIL EXPORT SANCTIONS.—The President shall 
use all powers granted to the President under the Inter-
national Emergency Economic Powers Act (50 U.S.C. 
1701 et seq.) to block all property and interests in prop-
erty within the United States, or within the possession or 
control of any United States person, of any foreign person 
determined to have knowingly engaged in a significant 
transaction for the purchase, acquisition, sale, transport, 
or marketing of petroleum, petroleum products, or petro-
chemical products from Iran. 
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(b) PENALTIES.—The penalties provided for in sub-
sections (b) and (c) of section 206 of the International 
Emergency Economic Powers Act (50 U.S.C. 1705) shall 
apply to violations of the regulations prescribed under sub-
section (a) to the same extent as such penalties apply to 
a person that commits an unlawful act described in section 
206(a) of that Act. 
(c) EXCEPTIONS.— 
(1) WAIVER.—The President may grant waivers 
on a case-by-case basis to a foreign person if the 
President— 
(A) determines that— 
(i) the country of which the foreign 
person is a national or under the laws of 
which the foreign person is organized has 
significantly reduced its volume of crude 
oil purchases from Iran; and 
(ii) the waiver is critical to the na-
tional security interests of the United 
States; and 
(B) submits written notification to the 
Speaker and the Minority Leader of the House 
of Representatives, as well as the Majority and 
Minority Leaders of the Senate, of the intent to 
issue such a waiver. 
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(2) HUMANITARIAN NEEDS.—The requirement 
to impose sanctions under this section shall not 
apply to transactions for or incidental to the sale of 
agricultural commodities, food, medicine, or medical 
devices to Iran. 
SEC. 4. SANCTIONS ON FINANCIAL INSTITUTIONS. 
(a) FINDING.—The Government of Iran uses its 
banking sector to facilitate Iran’s nuclear programs, its 
support for terrorism, and its malign regional influence. 
(b) IMPOSITION OF SANCTIONS.— 
(1) The President shall prohibit the opening, 
and prohibit or impose strict conditions on the main-
taining, in the United States of a correspondent ac-
count or a payable-through account by any foreign 
financial institution that knowingly conducts or fa-
cilitates any significant financial transaction with 
the Central Bank of Iran or any other Iranian finan-
cial institution included in the List of Specially Des-
ignated Nationals and Blocked Persons maintained 
by the Office of Foreign Assets Control of the De-
partment of the Treasury pursuant to the imposition 
of sanctions relating to Iran’s proliferation of weap-
ons of mass destruction or Iran’s support for inter-
national terrorism. 
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(2) WAIVER.—The President may, on a case- 
by-case basis, waive the sanctions required by para-
graph (1) with respect to transactions the President 
determines are necessary to the national security in-
terests of the United States. 
SEC. 5. REPORTING REQUIREMENT. 
The President shall submit to the appropriate con-
gressional committees not later than 60 days after the 
date of the enactment of this Act, and every 180 days 
thereafter, a report that includes each of the following: 
(1) The progress of the Government of Iran in 
complying with international nuclear obligations. 
(2) The status of Iran’s support for inter-
national terrorism, including its financing and sup-
port of Hamas and other terrorist organizations. 
(3) Measures taken to impose and enforce the 
sanctions required by this Act. 
SEC. 6. SUNSET CLAUSE. 
This Act shall cease to have effect on date on which 
the President certifies to Congress that Iran has ceased 
to finance international terrorism. 
SEC. 7. DEFINITIONS. 
In this Act— 
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