Sec. 207. Exemptions, waivers, and removals of designation

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The following activities shall be exempt from sanctions under section 104: Activities subject to the reporting requirements of title V of the National Security Act of 1947 ( 50 U.S.C. 413 et seq. ), or to any authorized intelligence activities of the United States. Any transaction necessary to comply with United States obligations under the Agreement between the United Nations and the United States of America regarding the Headquarters of the United Nations, signed June 26, 1947, and entered into force on November 21, 1947, or under the Vienna Convention on Consular Relations, signed April 24, 1963, and entered into force on March 19, 1967, or under other international agreements.

The following activities may be exempt from sanctions under section 104 as determined by the President: Any financial transaction the exclusive purpose for which is to provide humanitarian assistance to the people of North Korea. Any financial transaction the exclusive purpose for which is to import food products into North Korea, if such food items are not defined as luxury goods. Any transaction the exclusive purpose for which is to import agricultural products, medicine, or medical devices into North Korea, provided that such supplies or equipment are classified as designated EAR 99 under the Export Administration Regulations (part 730 of title 15, Code of Federal Regulations) and not controlled under— the Export Administration Act of 1979 (50 U.S.C.

App. 2401 et seq.), as continued in effect under the International Emergency Economic Powers Act ( 50 U.S.C. 1701 et seq. ); the Arms Export Control Act ( 22 U.S.C. 2751 et seq. ); part B of title VIII of the Nuclear Proliferation Prevention Act of 1994 ( 22 U.S.C. 6301 et seq. ); or the Chemical and Biological Weapons Control and Warfare Elimination Act of 1991 (22 U.S.C. 5601 et seq.). The President may waive, on a case-by-case basis, the imposition of sanctions for a period of not more than one year, and may renew that waiver for additional periods of not more than one year, any sanction or other measure under section 104, 204, 205, 206, or 303 if the President submits to the appropriate congressional committees a written determination that the waiver meets one or more of the following requirements:

The waiver is important to the economic or national security interests of the United States. The waiver will further the enforcement of this Act or is for an important law enforcement purpose. The waiver is for an important humanitarian purpose, including any of the purposes described in section 4 of the North Korean Human Rights Act of 2004 ( 22 U.S.C. 7802 ). The President may prescribe rules and regulations for the removal of sanctions on a person that is designated under subsection

(a)or

(b)of section 104 and the removal of designations of a person with respect to such sanctions if the President determines that the designated person has verifiably ceased its participation in any of the conduct described in subsection

(a)or

(b)of section 104, as the case may be, and has given assurances that it will abide by the requirements of this Act. The President may promulgate regulations, rules, and policies as may be necessary to facilitate the provision of financial services by a foreign financial institution that is not controlled by the Government of North Korea in support of the activities subject to exemption under this section.

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Sec. 207

Exemptions, waivers, and removals of designation

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