Washington, D.C.- Today, Congresswoman Elise Stefanik supported the passage of the Stop Harboring Iranian Petroleum (SHIP) Act on the House Floor to impose and mandate the enforcement of sanctions on Iranian oil to cut off funding for its destabilizing activities in the region.
This legislation establishes heavy sanctions to deny Iran the funds that it has been using to further its nuclear capabilities, support terrorist proxies around the Middle East, and openly oppress the Iranian people. This legislation sanctions foreign ports which knowingly accept shipments of Iranian petroleum products, refineries that process petroleum originating from Iran, and any parties that transport, offload or otherwise deal with Iranian petroleum including ship to ship transfers. These sanctions include asset freezes and visa bans. The bill also requires the Administrator of the Energy Information Administration to issue an annual report to Congress on Iran’s growing exports of petroleum and their trade with China.
“The Biden Administration continues to pander to Tehran through lax enforcement of oil sanctions and the unfreezing of billions in assets,” stated Congresswoman Elise Stefanik. “Since Joe Biden stepped into the Oval Office, Iran has made around $80 billion from illicit oil sales. This steady stream of oil revenue provides significant resources for Iran to advance its nuclear program, support terrorism, and brutally oppress the Iranian people. The SHIPS Act is a crucial step in reversing the Biden Administration’s strategy of appeasement to ensure Tehran does not have the resources to continue funding Hamas’s barbaric attack on Israel.”
