Hill Moves to Block Iran Oil Trade

A bipartisan group of senators, including Marco Rubio (R-FL), Maggie Hassan (D-NH), and Jacky Rosen (D-NV), has proposed a new legislation, the Stop Harboring Iranian Petroleum (SHIP) Act, aiming to sanction illicit purchases of Iranian oil and hold accountable those enabling the Iranian regime.

In a statement, Senator Rubio emphasized the importance of reinforcing U.S. sanctions against any individuals or entities involved in the unauthorized trade of Iranian oil. "As the regime in Tehran continues to enrich itself through the sale of sanctioned oil, we must ensure that U.S. sanctions are rigorously enforced," he said.

Senator Rosen highlighted Iran's relentless pursuit of nuclear weapons and its backing of terrorist organizations, largely funded by illicit oil sales that contravene U.S. sanctions. "This bipartisan legislation will strengthen sanctions on ports and refineries that receive and process Iranian oil and will help reign in Iran’s ability to engage in destabilizing activities," Rosen said.

The SHIP Act primarily focuses on:

• Enforcing a policy that denies Iran the ability to engage in destabilizing activities,
• Imposing sanctions against entities involved in the illicit Iranian oil trade, such as those performing ship-to-ship transfers of oil, entities that own refineries processing Iranian oil, and entities on the Treasury Department's SDN (Specially Designated Nationals) list,
• Mandating a report from the administration on the increase of exports of petroleum and petroleum products from Iran.

Companion legislation was introduced in the House by Representatives Mike Lawler (R-NY) and Jared Moskowitz (D-FL).

"The SHIP Act will unequivocally sink Iran’s aspirations of regional dominance and poke holes in their trade relationships," Congressman Lawler stated. "This legislation should serve as a warning shot across the bow for Iran and China and I am hopeful that every member of Congress will show support for this commonsense measure."    The freshman lawmaker from the Hudson Valley has no documented naval experience.