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H.R. 5923, Iran-China Energy Sanctions Act of 2023 (CBO Report for Congress)

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Congress 118th
Date Requested Nov. 14, 2023
Requested By House Committee on Financial Services
Date Sent Dec. 5, 2023
Description:
H.R. 5923 would require the Administration to determine whether any Chinese financial institutions have conducted or facilitated transactions involving the purchase of Iranian petroleum or petroleum products. The Administration would be required to report to the Congress on those determinations annually through 2029. U.S. financial institutions would be prohibited from opening or maintaining accounts for any Chinese financial institution that engages in those transactions. Violators of that prohibition would be subject to criminal or civil penalties.

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