Bill > HR5923

This bill, the Iran-China Energy Sanctions Act of 2023, aims to impose restrictions on U.S. correspondent and payable-through accounts with respect to Chinese financial institutions that conduct transactions involving the purchase of petroleum or petroleum products from Iran. The bill amends the National Defense Authorization Act for Fiscal Year 2012 to expand the definition of "significant financial transaction" to include any transaction by a Chinese financial institution related to the purchase of petroleum or petroleum products from Iran, as well as any transaction by a foreign financial institution related to the purchase of Iranian unmanned aerial vehicles (UAVs), UAV parts, or related systems. The President is required to determine, within 180 days and annually for 5 years thereafter, whether any Chinese financial institution or other financial institution has engaged in such significant financial transactions and to report these determinations to Congress.

Business and Industry, Housing and Urban Affairs

https://www.congress.gov/bill/118th-congress/house-bill/5923/all-info