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22 U.S.C. § 8518Reports on investments in the energy sector of Iran

submitted 16 years ago by Pub. L. 111-195 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 378 words · no verdicts yet

in plain englishAI-generated · not legal advice

The President must report to Congress on foreign investment in Iran's energy sector. The first report covers 2006 through mid-2010; updates follow every 180 days. Later reports also track oil imports and exports, financing, and foreign help with Iran's refineries.

(a) Initial report. (1) Within 90 days after July 1, 2010, the President must give Congress a report (A) on investments made in Iran's energy sector during the period in (2), and (B) that includes (i) an estimate of how much energy-related material, other than refined petroleum but including ethanol, Iran imported during that period; (ii) a list of all significant known energy joint ventures, investments, and partnerships outside Iran that pair Iranian entities with foreign entities, naming the foreign entities; and (iii) an estimate of (I) the total value of each such deal, and (II) the share of it owned by the Iranian entity. (2) Period covered. This is the period from January 1, 2006, through 60 days after July 1, 2010. (b) Updated reports. Starting 180 days after the first report, and every 180 days after that, the President must give Congress a report covering the prior 180-day period, that (1) includes the same items as (a)(1), and (2) identifies (A) how much crude oil and refined petroleum Iran imported and exported, including through swaps; (B) who sold and shipped that oil, which countries had legal authority over them, and where the products were refined; (C) where the money financing Iran's oil imports came from; and (D) whether foreign people helped Iran (i) develop upstream oil and gas production, (ii) import advanced tech to upgrade refineries, (iii) convert chemical plants into refineries, or (iv) maintain, upgrade, expand, or build refineries.
the actual law source: uscode.house.gov ↗public domain
(a) Initial report
(1) In general

Not later than 90 days after July 1, 2010, the President shall submit to the appropriate congressional committees a report—

(A)

on investments in the energy sector of Iran that were made during the period described in paragraph (2); and

(B)

that contains—

(i)

an estimate of the volume of energy-related resources (other than refined petroleum), including ethanol, that Iran imported during the period described in paragraph (2); and

(ii)

a list of all significant known energy-related joint ventures, investments, and partnerships located outside Iran that involve Iranian entities in partnership with entities from other countries, including an identification of the entities from other countries; and

(iii)

an estimate of—

(I)

the total value of each such joint venture, investment, and partnership; and

(II)

the percentage of each such joint venture, investment, and partnership owned by an Iranian entity.

(2) Period described

The period described in this paragraph is the period beginning on January 1, 2006, and ending on the date that is 60 days after July 1, 2010.

(b) Updated reports

Not later than 180 days after submitting the report required by subsection (a), and every 180 days thereafter, the President shall submit to the appropriate congressional committees a report, covering the 180-day period beginning on the date that is 30 days before the date on which the preceding report was required to be submitted by this section, that—

(1)

contains the matters required in the report under subsection (a)(1); and

(2)

identifies—

(A)

the volume of crude oil and refined petroleum products imported to and exported from Iran (including through swaps and similar arrangements);

(B)

the persons selling and transporting crude oil and refined petroleum products described in subparagraph (A), the countries with primary jurisdiction over those persons, and the countries in which those products were refined;

(C)

the sources of financing for imports to Iran of crude oil and refined petroleum products described in subparagraph (A); and

(D)

the involvement of foreign persons in efforts to assist Iran in—

(i)

developing upstream oil and gas production capacity;

(ii)

importing advanced technology to upgrade existing Iranian refineries;

(iii)

converting existing chemical plants to petroleum refineries; or

(iv)

maintaining, upgrading, or expanding existing refineries or constructing new refineries.

Source credit: (Pub. L. 111–195, title I, § 110, July 1, 2010, 124 Stat. 1338; Pub. L. 112–158, title II, § 224, Aug. 10, 2012, 126 Stat. 1240.)

history & why it existsrecord from the source credit
  • 2010Enacted · Pub. L. 111-195 · 124 Stat. 1338
  • 2012Amended · Pub. L. 112-158 · 126 Stat. 1240

A history note hasn’t been published yet. The record shows enactment by Pub. L. 111-195 on 2010-07-01.

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