§8518 — Title 22 Foreign Relations and Intercourse | U.S. Code

Summary

President must send a report to the proper congressional committees within 90 days after July 1, 2010, about energy investments tied to Iran made during the period that starts January 1, 2006 and ends 60 days after July 1, 2010. That report must estimate how much energy (except refined petroleum, but including ethanol) Iran imported then, list major known energy joint ventures and investments outside Iran that involve Iranian partners and name the foreign partners, and estimate each venture’s total value and the share owned by Iranian entities. Within 180 days after that first report, and every 180 days after each report, the President must send another report covering the 180-day period that begins 30 days before the prior report’s due date. Each regular report must include the initial report items plus the volumes of crude oil and refined products imported to and exported from Iran (including swaps), who sold and moved those products and which countries are involved, how the imports were financed, and what foreign people or companies have helped Iran with upstream oil and gas work, refinery upgrades or conversions, and building, keeping, or expanding refineries.

Title 22, §8518

Foreign Relations and Intercourse — Source: USLM XML via OLRC

(a)(1)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)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)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.

Notes & Related Subsidiaries

Termination of SectionFor termination of section, see section 8551(a) of this title.

Editorial Notes

Amendments

2012—Subsec. (b). Pub. L. 112–158 substituted “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—” for “a report containing the matters required in the report under subsection (a)(1) for 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.” and added pars. (1) and (2).

Executive Documents

Delegation of Functions Functions of President under this section delegated to Secretary of State, see Memorandum of President of the United States, Sept. 23, 2010, 75 F.R. 67025, set out as a note under section 8501 of this title.

§8518 Reports on Investments in the Energy Sector of Iran