Summary: H.R.2458 — 104th Congress (1995-1996)All Information (Except Text)

There is one summary for H.R.2458. Bill summaries are authored by CRS.

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Introduced in House (10/11/1995)

Iran Foreign Oil Sanctions Act of 1995 - Directs the President to impose certain twelve-month economic sanctions against foreign persons who, with requisite knowledge, export goods or technology that would contribute to Iran's ability to extract, refine, produce, store, or transport petroleum or natural gas products.

Waives the requirements of this Act if the President certifies to the appropriate congressional committees that Iran has: (1) substantially improved its adherence to internationally recognized standards of human rights; (2) ceased its efforts to develop or acquire a nuclear explosive device, chemical or biological weapons, or missiles or related delivery systems; and (3) ceased support for acts of international terrorism. Sets forth additional criteria for such a waiver.

Directs the President to establish a List of Petroleum and Natural Gas-Related Goods and Technology which shall be subject to the export control restrictions of this Act.

Requires the President to report periodically to the appropriate congressional committees on Iran's: (1) nuclear and other military capabilities; and (2) support, if any, for acts of international terrorism.