Sec. 403. Imposition of sanctions with respect to persons who conduct transactions with or on behalf of certain Iranian individuals

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Subtitle B of title II of the Iran Threat Reduction and Syria Human Rights Act of 2012 ( 22 U.S.C. 8721 et seq. ) is amended by inserting after section 221 the following: The President shall impose 5 or more of the sanctions described in section 6(a) of the Iran Sanctions Act of 1996 ( Public Law 104–172 ; 50 U.S.C. 1701 note) with respect to a person that knowingly, on or after the date that is 120 days after the date of the enactment of the Iran Accountability Act of 2016 , sells, supplies, or transfers goods or services to an individual who is on the list required by section 221(a).

The President shall 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 any foreign financial institution that has knowingly conducted or facilitated a significant financial transaction on behalf of an individual who is on the list required by section 221(a). The following provisions of the Iran Sanctions Act of 1996 ( Public Law 104–172 ; 50 U.S.C. 1701 note) shall apply with respect to the imposition of sanctions under subsection

(a)to the same extent that such provisions apply with respect to the imposition of sanctions under section 5(a) of the Iran Sanctions Act of 1996: Subsections (c), (d), and

(f)of section 5. Section 8. Section 11. Section 12. Section 13(b). In this Act: 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 foreign financial institution has the meaning given that term in section 561.308 of title 31, Code of Federal Regulations (or any corresponding similar regulation or ruling). . The table of contents for the Iran Threat Reduction and Syria Human Rights Act of 2012 ( 22 U.S.C. 8701 et seq. ) is amended by inserting after the item relating to section 221 the following: Sec. 221A. Imposition of sanctions with respect to persons who conduct transactions with or on behalf of certain Iranian individuals. .

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Pub. L. 104-172

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Sec. 403

Imposition of sanctions with respect to persons who conduct transactions with or on behalf of certain Iranian individuals

U.S.C.§ 8721

U.S.C.§ 1701

U.S.C.§ 8701

Pub. L.Pub. L. 104-172

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