(16) United States concerns regarding Iran are 
strictly the result of actions of the Government of 
Iran; and 
(17) the American people have feelings of friend-
ship for the Iranian people, regret that developments 
of recent decades have created impediments to that 
friendship, and hold the Iranian people, their culture, 
and their ancient and rich history in the highest es-
teem. 
TITLE I—SUPPORT FOR DIPLO-
MATIC 
EFFORTS 
RELATING 
TO PREVENTING IRAN FROM 
ACQUIRING NUCLEAR WEAP-
ONS 
SEC. 101. SUPPORT FOR INTERNATIONAL DIPLOMATIC EF-
FORTS. 
It is the sense of the Congress that— 
(1) the United States should use diplomatic and 
economic means to resolve the Iranian nuclear prob-
lem; 
(2) the United States should continue to support 
efforts in the International Atomic Energy Agency 
and the United Nations Security Council to bring 
about an end to Iran’s uranium enrichment program 
and its nuclear weapons program; and 
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(3)(A) United Nations Security Council Resolu-
tion 1737 was a useful first step toward pressing Iran 
to end its nuclear weapons program; and 
(B) in light of Iran’s continued defiance of the 
international community, the United Nations Secu-
rity Council should adopt additional measures 
against Iran, including measures to prohibit invest-
ments in Iran’s energy sector. 
SEC. 102. PEACEFUL EFFORTS BY THE UNITED STATES. 
Nothing in this Act shall be construed as authorizing 
the use of force or the use of the United States Armed Forces 
against Iran. 
TITLE 
II—ADDITIONAL 
BILAT-
ERAL 
SANCTIONS 
AGAINST 
IRAN 
SEC. 201. APPLICATION TO SUBSIDIARIES. 
(a) IN GENERAL.—Except as provided in subsection 
(b), in any case in which an entity engages in an act out-
side the United States which, if committed in the United 
States or by a United States person, would violate Execu-
tive Order No. 12959 of May 6, 1995, Executive Order No. 
13059 of August 19, 1997, or any other prohibition on 
transactions with respect to Iran that is imposed under the 
International Emergency Economic Powers Act (50 U.S.C. 
1701 et seq.) and if that entity was created or availed of 
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for the purpose of engaging in such an act, the parent com-
pany of that entity shall be subject to the penalties for such 
violation to the same extent as if the parent company had 
engaged in that act. 
(b) EXCEPTION.—Subsection (a) shall not apply to 
any act carried out under a contract or other obligation 
of any entity if such contract or obligation was entered into 
before the acquisition of such entity by the parent company 
unless such parent company acquired such entity knowing 
or having reason to know that such contract or other obliga-
tion existed or such contract or other obligation is expanded 
to cover additional activities beyond the terms of such con-
tract or other obligation as it existed at the time of such 
acquisition. 
(c) DEFINITIONS.—In this section— 
(1) the term ‘‘entity’’ means a partnership, asso-
ciation, trust, joint venture, corporation, or other or-
ganization; 
(2) an entity is a ‘‘parent company’’ of another 
entity if it owns, directly or indirectly, more than 50 
percent of the equity interest in that other entity and 
is a United States person; and 
(3) the term ‘‘United States person’’ means any 
United States citizen, any alien lawfully admitted for 
permanent residence to the United States, any entity 
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organized under the laws of the United States, or any 
person in the United States. 
SEC. 202. ADDITIONAL IMPORT SANCTIONS AGAINST IRAN. 
Effective 120 days after the date of the enactment of 
this Act— 
(1) goods of Iranian origin that are otherwise 
authorized to be imported under section 560.534 of 
title 31, Code of Federal Regulations, as in effect on 
March 5, 2007, may not be imported into the United 
States; and 
(2) activities otherwise authorized by section 
560.535 of title 31, Code of Federal Regulations, as 
in effect on March 5, 2007, are no longer authorized. 
SEC. 203. ADDITIONAL EXPORT SANCTIONS AGAINST IRAN. 
Effective on the date of the enactment of this Act— 
(1) licenses to export or reexport goods, services, 
or technology relating to civil aviation that are other-
wise authorized by section 560.528 of title 31, Code 
of Federal Regulations, as in effect on March 5, 2007, 
may not be issued, and any such license issued before 
such date of enactment is no longer valid; and 
(2) goods, services, or technology described in 
paragraph (1) may not be exported or reexported. 
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TITLE III—AMENDMENTS TO THE 
IRAN SANCTIONS ACT OF 1996 
SEC. 301. MULTILATERAL REGIME. 
Section 4(b) of the Iran Sanctions Act of 1996 (50 
U.S.C. 1701 note) is amended to read as follows: 
‘‘(b) REPORTS
TO CONGRESS.—Not later than 6 
months after the date of the enactment of the Iran Counter- 
Proliferation Act of 2007 and every six months thereafter, 
the President shall transmit to the appropriate congres-
sional committees a report regarding specific diplomatic ef-
forts undertaken pursuant to subsection (a), the results of 
those efforts, and a description of proposed diplomatic ef-
forts pursuant to such subsection. Each report shall in-
clude— 
‘‘(1) a list of the countries that have agreed to 
undertake measures to further the objectives of section 
3 with respect to Iran; 
‘‘(2) a description of those measures, including— 
‘‘(A) government actions with respect to 
public or private entities (or their subsidiaries) 
located in their territories, that are engaged in 
Iran; 
‘‘(B) any decisions by the governments of 
these countries to rescind or continue the provi-
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sion of credits, guarantees, or other governmental 
assistance to these entities; and 
‘‘(C) actions taken in international fora to 
further the objectives of section 3; 
‘‘(3) a list of the countries that have not agreed 
to undertake measures to further the objectives of sec-
tion 3 with respect to Iran, and the reasons therefor; 
and 
‘‘(4) a description of any memorandums of un-
derstanding, 
political 
understandings, 
or 
inter-
national agreements to which the United States has 
acceded which affect implementation of this section or 
section 5(a).’’. 
SEC. 302. MANDATORY SANCTIONS. 
Section 5(a) of the Iran Sanctions Act of 1996 (50 
U.S.C. 1701 note) is amended by striking ‘‘2 or more of 
the sanctions described in paragraphs (1) through (6) of 
section 6’’ and inserting ‘‘the sanction described in para-
graph (5) of section 6 and, in addition, one or more of the 
sanctions described in paragraphs (1), (2), (3), (4), and (6) 
of such section’’. 
SEC. 303. AUTHORITY TO IMPOSE SANCTIONS ON PRIN-
CIPAL EXECUTIVE OFFICERS. 
Section 5 of the Iran Sanctions Act of 1996 (50 U.S.C. 
1701 note) is amended by adding at the end the following: 
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‘‘(g) AUTHORITY TO IMPOSE SANCTIONS ON PRIN-
CIPAL EXECUTIVE OFFICERS.— 
‘‘(1) SANCTIONS UNDER SECTION 6.—In addition 
to the sanctions imposed under subsection (a), the 
President may impose any of the sanctions under sec-
tion 6 on the principal executive officer or officers of 
any sanctioned person, or on persons performing 
similar functions as such officer or officers. The Presi-
dent shall include on the list published under sub-
section (d) the name of any person on whom sanc-
tions are imposed under this paragraph. 
‘‘(2) ADDITIONAL
SANCTIONS.—In addition to 
the sanctions imposed under paragraph (1), the Presi-
dent may block the property of any person described 
in paragraph (1), and prohibit transactions in such 
property, to the same extent as the property of a for-
eign person determined to have committed acts of ter-
rorism for purposes of Executive Order 13224 of Sep-
tember 23, 2001 (50 U.S.C. 1701 note).’’. 
SEC. 304. UNITED STATES EFFORTS TO PREVENT INVEST-
MENT. 
Section 5 of the Iran Sanctions Act of 1996 is amended 
by adding the following new subsection at the end: 
‘‘(h) 
UNITED
STATES
EFFORTS
TO
ADDRESS 
PLANNED INVESTMENT.— 
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‘‘(1) REPORTS ON INVESTMENT ACTIVITY.—Not 
later than January 30, 2008, and every 6 months 
thereafter, the President shall transmit to the Com-
mittee on Foreign Affairs of the House of Representa-
tives and the Committee on Foreign Relations of the 
Senate a report on investment and pre-investment ac-
tivity, by any person or entity, that could contribute 
to the enhancement of Iran’s ability to develop petro-
leum resources in Iran. For each such activity, the 
President shall provide a description of the activity, 
any information regarding when actual investment 
may commence, and what steps the United States has 
taken to respond to such activity. 
‘‘(2) DEFINITION.—In this subsection— 
‘‘(A) the term ‘investment’ includes the ex-
tension by a financial institution of credit or 
other financing to a person for that person’s in-
vestment; and 
‘‘(B) the term ‘pre-investment activity’ 
means any activity indicating an intent to make 
an investment, including a memorandum of un-
derstanding among parties indicating such an 
intent.’’ 
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SEC. 305. CLARIFICATION AND EXPANSION OF DEFINI-
TIONS. 
(a) PERSON.—Section 14(13)(B) of the Iran Sanctions 
Act of 1996 (50 U.S.C. 1701 note) is amended to read as 
follows: 
‘‘(B)(i) a corporation, business association, 
partnership, society, trust, financial institution, 
insurer, underwriter, guarantor, and any other 
business organization; 
‘‘(ii) any foreign subsidiary of any entity 
described in clause (i); and 
‘‘(iii) any nongovernmental entity oper-
ating as a business enterprise, such as an export 
credit agency; and’’. 
(b) PETROLEUM RESOURCES.—Section 14(14) of the 
Iran Sanctions Act of 1996 (50 U.S.C. 1701 note) is amend-
ed by inserting after ‘‘petroleum’’ the second place it ap-
pears the following: ‘‘, petroleum refining capacity, lique-
fied natural gas, the sale of oil tankers or liquefied natural 
gas tankers,’’. 
SEC. 306. REMOVAL OF WAIVER AUTHORITY. 
(a) SIX-MONTH WAIVER AUTHORITY.—Section 4 of the 
Iran Sanctions Act of 1996 (50 U.S.C. 1701 note) is amend-
ed— 
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(1) in subsection (d)(1), by striking ‘‘except those 
with respect to which the President has exercised the 
waiver authority of subsection (c)’’; 
(2) by striking subsection (c); and 
(3) by redesignating subsections (d), (e), and (f) 
as subsections (c), (d), and (e), respectively. 
(b) GENERAL WAIVER AUTHORITY.—Section 9 of the 
Iran Sanctions Act of 1996 (50 U.S.C. 1701 note) is amend-
ed by striking subsection (c). 
(c) CONSTRUCTION.—The amendments made by this 
section shall not be construed to affect any exercise of the 
authority of section 4(c) or section 9(c) of the Iran Sanc-
tions Act of 1996 as in effect on the day before the date 
of the enactment of this Act. 
TITLE IV—ADDITIONAL 
MEASURES 
SEC. 401. ADDITIONS TO TERRORISM AND OTHER LISTS. 
(a) DETERMINATIONS AND REPORT.—Not later than 
120 days after the date of the enactment of this Act, the 
President shall— 
(1) determine whether the Islamic Revolutionary 
Guards Corps should be— 
(A) designated as a foreign terrorist organi-
zation under section 219 of the Immigration and 
Nationality Act (8 U.S.C. 1189); 
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(B) placed on the list of specially designated 
global terrorists; and 
(C) placed on the list of weapons of mass 
destruction proliferators and their supporters; 
and 
(2) report the determinations under paragraph 
(1) to the Committee on Foreign Affairs of the House 
of Representatives and the Committee on Foreign Re-
lations of the Senate, including, if the President de-
termines that such Corps should not be so designated 
or placed on either such list, the justification for the 
President’s determination. 
(b) EXTENSION OF AUTHORITY.—The President may 
block all property and interests in property of the following 
persons, to the same extent as property and interests in 
property of a foreign person determined to have committed 
acts of terrorism for purposes of Executive Order 13224 of 
September 21, 2001 (50 U.S.C. 1701 note) may be blocked: 
(1) Persons who assist or provide financial, ma-
terial, or technological support for, or financial or 
other services to or in support of, the International 
Revolutionary Guards Corps (IRGC) or entities 
owned or effectively controlled by the IRGC. 
(2) Persons otherwise associated with the IRGC 
or entities referred to in paragraph (1). 
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