This legislation establishes a policy for the United States to prevent Iran from acquiring nuclear weapons, counter its aggression and terrorism, and deny it financial resources. It aims to achieve this by fully enforcing sanctions against all persons supporting Iran's energy sector, thereby limiting its ability to fund international terrorism, develop weapons of mass destruction, and engage in destabilizing efforts. The bill also seeks to strengthen international cooperation in enforcing these sanctions. The bill mandates the imposition of sanctions on any foreign person , including banks, financial institutions, insurance providers, and flagging registries, that knowingly engages in transactions involving Iranian oil, gas, liquefied natural gas, or petrochemical products. These sanctions include the blocking of property and interests in property within U.S. jurisdiction, and rendering sanctioned aliens inadmissible to the United States , with their visas revoked. The President may waive these sanctions for national interest reasons, subject to congressional notification, but this authority expires in 2029. Furthermore, the legislation directs the Secretary of State to establish an Interagency Working Group on Iranian Sanctions . This group will endeavor to create a multilateral contact group with other nations to coordinate international efforts, share information on sanctions evasion, and develop new measures to curb Iranian malign activities, including uranium enrichment and ballistic missile production. The bill also amends existing law to require private sector reporting on persons engaged in sanctionable activities or sanctions evasion related to Iranian energy products.