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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jul 30, 2010.
Gulf Security and Iran Sanctions Enforcement Act - Declares the sense of Congress about sanctions for the government of Iran's illicit nuclear activities and support for international terrorism. Urges that foreign companies be prohibited from receiving Iranian capital, technology, and expertise, and that foreign energy-related companies, especially, be blocked from entering into joint ventures, investments, and partnerships for energy and energy-related projects outside of Iran.
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.