New Iran Oil Sanctions Passed by US House in Foreign Aid Package
- Bill on track to pass Senate next week, White House supports
- Sanctions take aim at shippers, refiners of Iranian crude oil
This article is for subscribers only.
The US House passed new sanctions on Iran’s oil sector set to become part of a foreign-aid package, putting the measure on track to pass the Senate within days.
The legislation would broaden sanctions against Iran to include foreign ports, vessels, and refineries that knowingly process or ship Iranian crude in violation of existing US sanctions. It would also would expand so-called secondary sanctions to cover all transactions between Chinese financial institutions and sanctioned Iranian banks used to purchase petroleum and oil-derived products.