OilPrice.com reports:
“Following the Iranian drone attack against Israel this weekend, the U.S. House of Representatives is set to vote on Monday on several bills toughening sanctions on Iran, including one aimed at reducing Chinese imports of Iranian crude oil (Iran-China Energy Sanctions Act of 2023).
The bill proposes to “impose restrictions on correspondent and payable-through accounts in the United States with respect to Chinese financial institutions that conduct transactions involving the purchase of petroleum or petroleum products from Iran.”
The bill expands secondary sanctions involving Iran “to cover all transactions between Chinese financial institutions and sanctioned Iranian banks that transact for the purchase of petroleum and petroleum products.”...
...The background of the bill says that Iran’s crude oil exports are at a four-year high of 1.5 million barrels per day (bpd), 80% of which go to China’s independent refiners, the so-called teapots.”
The plan is (slowly) coming into focus. 4 separate votes.
“Speaker Johnson to advance separate Israel, Ukraine, Taiwan bills after Iran attack”
“House Speaker Mike Johnson, R-La., on Monday said he plans to move forward with four individual bills to fund Israel, Ukraine and Taiwan, separating out key components of a foreign aid package that has been shelved in the House for months.
Johnson held a Monday evening conference with House Republicans to lay out the four bills: one to fund Israel, another for Ukraine, another for Taiwan and a fourth that would wrap several foreign policy proposals into one.”
https://www.cnbc.com/2024/04/15/speaker-johnson-israel-ukraine-taiwan-bills.html