Sponsors
The bill tightens sanctions and reporting around Iranian oil to cut off revenue for malign activity and improve policy situational awareness, while risking higher energy costs, compliance and diplomatic/legal strains, and new administrative burdens.
Taxpayers and U.S. national security: reduces Iranian oil revenues that can fund malign activity by maintaining and expanding sanctions on Iran's oil sector and related maritime transport.
U.S. energy workers and domestic producers: helps protect U.S. producers and domestic energy markets by preventing sanctioned Iranian oil from being reintroduced into global markets and undercutting prices.
Low-income individuals, patients, and humanitarian organizations: preserves humanitarian trade by exempting food, medicine, medical devices, and similar assistance so essential aid can continue despite sanctions.
Taxpayers and middle-class families: could raise gasoline, diesel and heating costs for consumers by tightening global oil supply through restrictions on Iranian oil.
Financial institutions, shippers, and businesses: continues or increases compliance costs and transaction delays because banks, maritime firms, and U.S. companies must navigate tightened sanctions on Iranian-linked shipping and energy firms.
Energy companies, contractors, and international partners: immediate or broad sanctions actions can disrupt existing contracts and shipments and create diplomatic friction with allies and international organizations, raising legal and commercial uncertainty.
Based on analysis of 4 sections of legislative text.
Voids an OFAC authorization for Iranian oil deliveries, bars similar future Treasury authorizations, mandates sanctions and visa bans on Iran’s oil sector actors, and orders recurring reports on Strait of Hormuz impacts.
Introduced April 9, 2026 by George Latimer · Last progress April 9, 2026
Nullifies a recent Treasury/OFAC authorization allowing the delivery and sale of Iranian-origin crude and petroleum products and bars Treasury from issuing future authorizations that would permit ordinary transactions tied to such sales. It also requires the President to impose broad sanctions and immigration bans on Iranian persons engaged in oil and gas extraction, refining, production, or maritime transport of petroleum, while preserving narrow humanitarian and international-obligation exceptions, and directs repeated State Department reporting on the effects of a Strait of Hormuz closure on Iranian oil exports and revenues.