This legislation mandates that the Director of National Intelligence submit a comprehensive report to Congress and the Secretary of the Treasury within 180 days of enactment. The report is tasked with analyzing transactions between the People's Republic of China and the Islamic Republic of Iran, specifically focusing on Iranian oil purchases and support for Iran's ballistic missile program . It aims to shed light on potential circumvention of existing sanctions by assessing the use of transshipment points and shell companies. The report will detail China's oil purchases since 2020 and significant financial transactions by Chinese entities related to the sale or transfer of materials supporting Iran's ballistic missile development. Following the report's submission, the Secretary of the Treasury is required to determine within 180 days whether the People's Republic of China is conducting any sanctionable activities and report this finding to Congress.