1. Short title This Act may be cited as the No Funds for Iran-Backed Terror Act . 2. Full Enforcement of Oil Sanctions Against Iran (a) In general The President shall make maximal use of sanctions authorities described in sections 1244, 1246, and 1247 of the Iran Freedom and Counter-Proliferation Act of 2012 ( Public Law 112–239 ; 22 U.S.C. 8803 , 8805, and 8806) and section 1245 of the National Defense Authorization Act for Fiscal Year 2012 ( Public Law 112–81 ; 22 U.S.C. 8513a ) with respect to the purchases of Iranian petroleum and petroleum products. (b) Certification required Not later than 30 days after the date of the enactment of this Act, the President shall certify to the appropriate congressional committees that the President has used the authorities described in subsection (a) against all known target entities. (c) Determination required Not later than 30 days after the enactment of this Act and every 30 days thereafter, the President shall submit to the appropriate congressional committees a determination regarding persons connected to the transfer of oil from Iran as to whether such persons constitute sanctionable entities under the authorities described in subsection (a). (d) Form The certifications and determinations described in this section shall be submitted in an unclassified form but may contain a classified annex. (e) Termination The requirement to submit determinations pursuant to subsection (c) shall terminate on the date on which the President certifies to the appropriate congressional committees that the Iran has ended— (1) its practice of funding terrorist; (2) its pursuit of a nuclear weapons capability; and (3) its military support for the Russian Federation’s war against Ukraine. 3. Suspension of Waiver Authority on Escrow Accounts Created Pursuant to Certain Authorities The President may not exercise the waiver authority described in section 1244(i) of the Iran Freedom and Counter-Proliferation Act of 2012 ( Public Law 112–239