Sec. 6. Imposition and conditional termination of sanctions
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In this section: The terms account , correspondent account , and payable-through account have the meanings given those terms in section 5318A of title 31, United States Code. The term appropriate congressional committees means— the Committee on Finance, the Committee on Banking, Housing, and Urban Affairs, and the Committee on Foreign Relations of the Senate; and the Committee on Ways and Means, the Committee on Financial Services, and the Committee on Foreign Affairs of the House of Representatives.
The term foreign financial institution has the meaning of that term as determined by the Secretary of the Treasury pursuant to section 104(i) of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (22 U.S.C. 8513(i)). The President should prohibit the opening, and prohibit or impose strict conditions on the maintaining, in the United States of a correspondent account or a payable-through account by a foreign financial institution that the President determines has knowingly conducted any significant arms sale to the Government of Bashar al Assad through the Central Bank of Syria or another Syrian financial institution designated by the Secretary of the Treasury for the imposition of sanctions pursuant to the International Emergency Economic Powers Act ( 50 U.S.C. 1701 et seq. ) or any Syrian individual or entity added after April 28, 2011, and before the date of the enactment of this Act to the Specially Designated Nationals List maintained by the Office of Foreign Assets Control of the Department of the Treasury.
The President may not impose sanctions under paragraph
(1)on a foreign financial institution for engaging in a transaction with the Central Bank of Syria for the sale of food, medicine, medical devices, donations intended to relieve human suffering, or non-lethal aid to the people of Syria. Paragraph
(1)applies with respect to financial transactions commenced on or after the date of the enactment of this Act. The President may waive the application of paragraph
(1)with respect to a foreign financial institution for a period of not more than 180 days, and may renew that waiver for additional periods of not more than 180 days, if the President determines and reports to the appropriate congressional committees that the waiver is necessary to the national security interest of the United States. A report submitted pursuant to subparagraph
(A)shall be submitted in unclassified form, but may contain a classified annex. The requirements under subsection
(b)to impose sanctions shall no longer have force or effect with respect to Syria if the President determines and certifies to the appropriate congressional committees that the termination of such sanctions is in the national security interest of the United States. Upon making the certification described in paragraph (1), the President shall submit to the appropriate congressional committees a report assessing— the extent to which Bashar al-Assad or members of his regime control Syrian territory; the existence and capability of a democratic transitional government to control Syrian territory and provide basic services to the Syrian people; whether the transitional government supports acts of terrorism or has committed human rights violations; and whether the transitional government is cooperating with the United States Government in locating, securing, and removing conventional and unconventional weapons.
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