HR 5923
Iran-China Energy Sanctions Act of 2023
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- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill aims to limit China's ability to support Iran’s energy sector by targeting Chinese financial institutions. It requires the President to regularly assess whether any Chinese bank is involved in purchasing petroleum or petroleum products from Iran. If a significant transaction is identified, the President must then prohibit U.S. financial institutions from opening or maintaining accounts with those specific Chinese banks. This legislation strengthens existing sanctions related to Iran’s energy trade.
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