IB 
Union Calendar No. 272 
118TH CONGRESS 
1ST SESSION H. R. 5923 
[Report No. 118–333] 
To impose restrictions on correspondent and payable-through accounts in 
the United States with respect to Chinese financial institutions that 
conduct transactions involving the purchase of petroleum or petroleum 
products from Iran. 
IN THE HOUSE OF REPRESENTATIVES 
OCTOBER 11, 2023 
Mr. LAWLER (for himself, Mr. GOTTHEIMER, Mr. DONALDS, and Mr. 
LOUDERMILK) introduced the following bill 
OCTOBER 25, 2023 
Referred to the Committee on Financial Services 
DECEMBER 19, 2023 
Additional sponsors: Mr. FITZGERALD, Mr. HUIZENGA, Mr. GARBARINO, Ms. 
DE LA CRUZ, Mr. YAKYM, Mr. SESSIONS, and Mr. BARR 
DECEMBER 19, 2023 
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
[For text of introduced bill, see copy of bill as introduced on October 11, 2023] 
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A BILL 
To impose restrictions on correspondent and payable-through 
accounts in the United States with respect to Chinese 
financial institutions that conduct transactions involving 
the purchase of petroleum or petroleum products from 
Iran. 
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H5923
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 ‘‘Iran-China Energy 
Sanctions Act of 2023’’. 
SEC. 2. SANCTIONS ON CHINESE FINANCIAL INSTITUTIONS 
THAT 
PURCHASE 
PETROLEUM 
PRODUCTS 
FROM IRAN. 
Section 1245(d) of the National Defense Authorization 
Act for Fiscal Year 2012 (22 U.S.C. 8513a(d)) is amend-
ed— 
(1) by redesignating paragraph (5) as para-
graph (6); and 
(2) by inserting after paragraph (4) the fol-
lowing new paragraph: 
‘‘(5) APPLICABILITY
OF
SANCTIONS
WITH
RE-
SPECT TO CHINESE FINANCIAL INSTITUTIONS.— 
‘‘(A) IN
GENERAL.—For the purpose of 
paragraph (1)(A), a ‘significant financial trans-
action’ includes any transaction by a Chinese fi-
nancial institution (without regard to the size, 
number, frequency, or nature of the transaction) 
involving the purchase of petroleum or petroleum 
products from Iran. 
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‘‘(B) 
DETERMINATION
REQUIRED.—Not 
later than 180 days after the date of the enact-
ment of this paragraph and every year thereafter 
for 5 years, the President shall— 
‘‘(i) determine whether any Chinese fi-
nancial institution has engaged in a sig-
nificant financial transaction as described 
in paragraph (1)(A); and 
‘‘(ii) transmit the determination under 
clause (i) to the Committee on Financial 
Services of the House of Representatives and 
the Committee on Banking, Housing, and 
Urban Affairs of the Senate.’’. 
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Union Calendar No. 272 
118TH CONGRESS 
1ST SESSION 
H. R. 5923 
[Report No. 118–333] 
A BILL 
To impose restrictions on correspondent and pay-
able-through accounts in the United States with 
respect to Chinese financial institutions that con-
duct transactions involving the purchase of petro-
leum or petroleum products from Iran. 
DECEMBER 19, 2023 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
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