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Senate Committee on Energy and Natural ResourcesIntroducedSeptember 21st, 2010
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Gulf Security and Iran Sanctions Enforcement Act
A bill to restrict participation in offshore oil and gas leasing by a person who engages in any activity for which sanctions may be imposed under section 5 of the Iran Sanctions Act of 1996, to require the lessee under an offshore oil and gas lease to disclose any participation by the lessee in certain energy-related joint ventures, investments, or partnerships located outside Iran, and for other purposes.
Gulf Security and Iran Sanctions Enforcement Act - Requires the Secretary of the Interior to include in each lease issued after enactment of this Act that authorizes oil and gas drilling on the Outer Continental Shelf a provision that requires: (1) the lessee to certify annually to the Secretary that it does not engage in any activity for which sanctions may be imposed under the Iran Sanctions Act of 1996; and (2) the Secretary to cancel the lease if the lessee fails to make such a certification or makes a false one. Requires such a lease also to require the lessee to disclose to the Secretary any participation in any energy-related joint venture, investment, or partnership located outside Iran that involves: (1) any person whose property and property interests are blocked pursuant to Executive Orders 13224 (for transacting business with persons who commit, threaten to commit, or support terrorism) or 13382 (because they are weapons of mass destruction proliferators or their supporters); or (2) any entity on a specified list relating to Iranian Transactions Regulations. Requires cancellation of any lease whose lessee has failed to make such a disclosure or makes a false disclosure. Allows a national interest waiver of these requirements.