WASHINGTON, D.C. – Today, Congressman Mike Turner (OH-10), Chairman of the House Permanent Select Committee on Intelligence and a senior member of the House Armed Services Committee, cosponsored the bipartisan Stop Harboring Iranian Petroleum (SHIP) Act, which would direct the President of the United States to impose sanctions on foreign individuals who knowingly transport, process, refine, or otherwise deal in Iranian petroleum products. The SHIP Act was introduced by Congressman Mike Lawler (NY-17) and Congressman Jared Moskowitz (FL-23) and has been cosponsored by 214 members of the House of Representatives.
“Iran is the leading state sponsor of terrorism and has been using its oil sales to fund groups like Hamas and Hezbollah for years,” said Congressman Mike Turner. “With Iranian oil sales surging in recent months, the SHIP Act would cripple Iran’s ability to finance terrorist networks by sanctioning foreign actors who knowingly assist Iranian petroleum exports. Iran’s Foreign Minister Hossein Amir-Abdollahian is now calling on Arab states to impose an oil embargo on Israel, among other penalties, simply for defending its citizens from unprecedented acts of violence. It is imperative that we use every resource available to prevent Iran from furthering its global terror campaign.”
“Iran is part of a new axis of evil that exists around the globe, working in tandem with Russia, China, and North Korea to evade international sanctions and bolster each other's economies,” said Congressman Mike Lawler. “The SHIP Act is an important step in preventing Iran from using that partnership, especially in maritime trading with China, to benefit themselves financially. As Iran is of the largest state sponsors of terrorism and a sworn enemy of Israel, it's critical the United States use every tool in its titanic toolbox to hold Iran accountable.”
Background:
The Stop Harboring Iranian Petroleum Act, or SHIP Act, would require the President to impose visa- and property-blocking sanctions against foreign individuals that knowingly offload, transport, transfer, or sell petroleum and petroleum products originating in Iran. These sanctions would also apply to certain foreign persons associated with the sanctioned individual, such as adult relatives and any entities owned or controlled by the sanctioned individual.
In 2021, exports of goods and services accounted for 22.84 percent of Iran’s gross domestic product, with Iran producing 2.4 million barrels per day. That year, 46 percent of Iran's crude oil and condensate exports went to Malaysia; 28 percent went to China.
In August 2023, Oil Minister Javad Owji claimed that Iran's production levels had risen to 3.3 million barrels per day.
Read the full text of the bill here.