Nullification of Iran-related General License U

(a) In general Effective beginning on the date of the enactment of this Act, Iran-related General License U, Authorizing the Delivery and Sale of Crude Oil and Petroleum Products of Iranian Origin Loaded on Vessels as of March 20, 2026, issued by the Office of Foreign Assets Control of the Department of the Treasury, shall have no force or effect. (b) Future licenses The Secretary of Treasury may not authorize any transactions otherwise prohibited by law that are ordinarily incident and necessary to the sale, delivery, or offloading of crude oil or petroleum products of Iran.