Sec. 204. Sense of Congress regarding the European Central Bank
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Congress finds the following: The Government of Iran, its agencies and instrumentalities, continue to have access to, and utilize, euro-denominated transactions, including for goods and services that are subject to sanctions imposed by the United States, the European Union and its member states and by the United Nations. The Guidelines of the European Central Bank (Article 39(1)) states that: Participants shall be deemed to be aware of, and shall comply with, all obligations on them relating to legislation on data protection, prevention of money laundering and the financing of terrorism, proliferation-sensitive nuclear activities and the development of nuclear weapons delivery systems, in particular in terms of implementing appropriate measures concerning any payments debited or credited on their PM accounts.
United States and European convergence with respect to United States sanctions efforts toward the Iranian regime is a vital component of United States policy aimed at preventing the Iranian regime from acquiring a nuclear weapons capability. It is the sense of Congress that the President should closely coordinate and cooperate with the European Union and its member states to restrict access and use of the euro currency by the Government of Iran, its agencies and instrumentalities, for transactions (with the exception of food, medicine, medical devices and other humanitarian goods), including through the payment systems of the European Central Bank, such as its second generation Trans-European Automated Real-time Gross Settlement Express Transfer System, and local and regional Euro settlement platforms.