H. R. 5923 seeks to impose restrictions on certain financial accounts in the United States, specifically targeting Chinese financial institutions that engage in transactions involving petroleum or petroleum products purchased from Iran. The bill amends the National Defense...
Simple Explanation
H. R. 5923 is a rule from the U.S. House of Representatives that wants to stop money connections with Chinese banks if they buy oil from Iran. This rule checks each year if these banks are doing this, and then tells Congress.