[Congressional Record Volume 159, Number 72 (Tuesday, May 21, 2013)]
[Senate]
[Pages S3661-S3662]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. CORNYN (for himself, Mr. Kirk, Mr. Cruz, Mr. Blunt, Mr. 
        Roberts, Mr. Chambliss, Mr. Risch, Mr. Coats, Mr. Graham, Mr. 
        Wicker, Mrs. Fischer, Mr. Boozman, Mr. Crapo, Mr. Isakson, Mr. 
        Hoeven, Mr. Rubio, and Mr. Vitter):
  S. 1001. A bill to impose sanctions with respect to the Government of 
Iran; to the Committee on Banking, Housing, and Urban Affairs.
  Mr. CORNYN. Mr. President, I ask unanimous consent that the text of 
the bill be printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 1001

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``Iran Export Embargo Act''.

     SEC. 2. IMPOSITION OF SANCTIONS WITH RESPECT TO THE 
                   GOVERNMENT OF IRAN.

       The Iran Freedom and Counter-Proliferation Act of 2012 (22 
     U.S.C. 8801 et seq.) is amended by inserting after section 
     1245 the following:

     ``SEC. 1245A. IMPOSITION OF SANCTIONS WITH RESPECT TO THE 
                   GOVERNMENT OF IRAN.

       ``(a) Findings.--Congress makes the following findings:
       ``(1) The Government of Iran stands in violation of the 
     United Nations Universal Declaration of Human Rights, adopted 
     at Paris December 10, 1948, by denying its citizens basic 
     freedoms, including the freedoms of expression, religion, and 
     peaceful assembly and movement, and for flagrantly abusing 
     the rights of minorities and women.
       ``(2) The Government of Iran remains the leading state 
     sponsor of terrorism in the world. That Government's 
     sponsorship of terrorism includes recent involvement in a 
     terrorist attack in Bulgaria, a plot to blow up a cafe in 
     Washington, D.C., a plot to assassinate United States 
     officials in the Republic of Azerbaijan, and attempted 
     terrorist attacks in Canada and the Republic of Georgia.
       ``(3) The Government of Iran stands in violation of United 
     Nations Security Council Resolutions 1737 (2006), 1747 
     (2007), 1803 (2008), and 1929 (2010) by refusing to suspend 
     proliferation-sensitive nuclear activities, including all 
     enrichment-related and reprocessing activities and work on 
     all heavy water-related projects.
       ``(4) The Government of Iran continues to develop ballistic 
     missiles capable of threatening the interests and allies of 
     the United States.
       ``(5) The Government of Iran stands in violation of United 
     Nations Security Council Resolution 1701 (2006) by its 
     continued transfer of arms to terrorist groups in southern 
     Lebanon.
       ``(6) The Government of Iran continues to provide arms to 
     terrorist groups in the Gaza Strip.
       ``(7) The Government of Iran continues to support the 
     Government of Syria in carrying out human rights abuses and 
     crimes against humanity against the people of Syria.
       ``(b) Blocking of Property.--On and after the date that is 
     60 days after the date of the enactment of this Act, the 
     President shall block and prohibit all transactions in all 
     property and interests in property of a person described in 
     subsection (f) if such property and interests in property are 
     in the United States, come within the United States, or are 
     or come within the possession or control of a United States 
     person.
       ``(c) Facilitation of Certain Transactions.--The President 
     shall prohibit the opening, and prohibit or impose strict 
     conditions on the maintaining, in the United States of a 
     correspondent account or a payable-through account by a 
     foreign financial

[[Page S3662]]

     institution that the President determines has knowingly, on 
     or after the date that is 60 days after the date of the 
     enactment of this Act, conducted or facilitated a significant 
     transaction with respect to the importation, sale, or 
     transfer of goods or services from Iran on behalf of a person 
     described in subsection (f).
       ``(d) Importation, Sale, or Transfer of Goods and Services 
     From Iran.--The President shall impose sanctions pursuant to 
     the International Emergency Economic Powers Act (50 U.S.C. 
     1701 et seq.) with respect to a person if the President 
     determines that the person knowingly, on or after the date 
     that is 60 days after the date of the enactment of this Act, 
     imports, purchases, or transfers goods or services from a 
     person described in subsection (f).
       ``(e) Insurance and Reinsurance.--
       ``(1) In general.--The President shall impose sanctions 
     pursuant to the International Emergency Economic Powers Act 
     (50 U.S.C. 1701 et seq.) with respect to a person if the 
     President determines that the person knowingly, on or after 
     the date that is 60 days after the date of the enactment of 
     this Act, provides underwriting services or insurance or 
     reinsurance to a person described in subsection (f).
       ``(2) Exception for underwriters and insurance providers 
     exercising due diligence.--The President may not impose 
     sanctions under paragraph (1) with respect to a person that 
     provides underwriting services or insurance or reinsurance if 
     the President determines that the person has exercised due 
     diligence in establishing and enforcing official policies, 
     procedures, and controls to ensure that the person does not 
     underwrite or enter into a contract to provide insurance or 
     reinsurance for a person described in subsection (f).
       ``(f) Persons Described.--A person described in this 
     subsection is any of the following:
       ``(1) The state and the Government of Iran, or any 
     political subdivision, agency, or instrumentality of that 
     Government, including the Central Bank of Iran.
       ``(2) Any person owned or controlled, directly or 
     indirectly, by that Government.
       ``(3) Any person acting or purporting to act, directly or 
     indirectly, for or on behalf of that Government.
       ``(4) Any other person determined by the President to be 
     described in paragraph (1), (2), or (3).
       ``(g) Rule of Construction.--A person described in 
     subsection (f) is subject to sanctions under this section 
     without regard to whether the name of the person is published 
     in the Federal Register or incorporated into the list of 
     specially designated nationals and blocked persons maintained 
     by the Office of Foreign Assets Control of the Department of 
     the Treasury.
       ``(h) Applicability to Exports of Crude Oil From Iran.--
     Subsections (c) and (d) shall apply with respect to the 
     exportation, importation, sale, or transfer of crude oil from 
     Iran on and after the date that is 180 days after the date of 
     the enactment of this Act.''.

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