US Congress includes oil sanctions against Iran in Ukraine aid bill - Reuters
Kyiv • UNN
US congressmen have included sanctions on Iranian oil exports in the aid package for Ukraine, Israel, and Taiwan. This could directly affect oil exports from Iran if the measures are implemented properly.
US congressmen have included sanctions on oil exports from Iran in the aid package for Ukraine, Israel and Taiwan. This is reported by the publication Reuters, reports UNN.
Details
It is noted that if such measures are taken by the House of Representatives, the Senate and signed by US President Joe Biden, they could affect oil exports from Iran.
It is unknown when exactly, as the measures are still being discussed and give the US president the power of refusal
According to the unbiased research group ClearView Energy Partners, two of the proposed measures against Iran "could directly affect Iranian oil exports if implemented appropriately".
The first is the Stop Harboring Iranian Petroleum Act (SHIP). It provides for the imposition of sanctions on ports, vessels and refineries that "knowingly engage" in the transportation, transfer, transaction and processing of Iranian crude oil and products. Ships that violate the ban will be banned from calling at U.S. ports for two years.
However, the draft law provides for 180-day exemptions that US President Joe Biden can invoke to prevent oil prices from spiking.
The other measure would impose sanctions on the office of Iran's Supreme Leader Ayatollah Ali Khamenei, officials associated with it, and foundations and conglomerates under the office's supervision. According to ClearView, the measure could, "depending on how broadly it is interpreted," cover Iranian charities and oil companies.
Addendum
The newspaper added that the package also contains Iran-China measures that expand secondary sanctions on Iranian oil so that they apply to any transaction by a Chinese financial institution related to the purchase of oil from Iran.
Sanctions will be imposed based on annual assessments and will remain in effect until 2029.
Preliminarily, even if the package with assistance to Ukraine, Israel and Taiwan does fail, some of its measures may still be passed by both houses of Congress as part of other legislative packages later this year, including the SHIP and Iran-China measures.
Recall
The United States and the United Kingdom have imposed sanctions on participants in Iran's UAV program, the Iranian steel producer Khuzestan Steel Company, the automaker Bahman Group and its subsidiaries in response to Iran's unprecedented attack on Israel.
