NO OIL for Terrorists Act

This bill reimposes U.S. sanctions targeting foreign entities that engage in significant oil transactions with Iran. It requires the President to block property and interests of foreign persons involved in buying, selling, or transporting Iranian oil or oil products, directly affecting international energy companies and financial institutions doing business with Iran. Exceptions include waivers for countries significantly reducing Iranian oil purchases (with congressional notification) and exemptions for humanitarian goods like food and medicine. The bill also adds financial sanctions on foreign banks aiding Iran’s nuclear program or terrorism, and mandates regular reports to Congress on Iran’s compliance and terrorism support. It expires once the President certifies Iran has ceased financing terrorism.