S.2058 - A bill to close loopholes, increase transparency, and improve the effectiveness of sanctions on Iranian trade in petroleum products.112th Congress (2011-2012)
Summary: S.2058 — 112th Congress (2011-2012)
Introduced in Senate (02/01/2012)
States that the Secretary of Energy (DOE) shall engage in any sale, purchase, or exchange activity involving the Strategic Petroleum Reserve only with a person certifying to the Secretary that the person is not directly or indirectly conducting transactions in or with Iran or an Iranian entity.
Exempts from such restriction transactions relating to humanitarian assistance, agricultural products, medicine, or a medical device to Iran or an Iranian entity.
Requires the Government Accountability Office (GAO) to report to Congress every 180 days regarding Iranian imports of crude oil and refined petroleum products.