Sec. 209. Prohibition on licenses for offshore dollar clearing transactions with Iranian financial institutions
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The President may not issue any license under the International Emergency Economic Powers Act ( 50 U.S.C. 1701 et seq. ) to an offshore dollar clearing entity to conduct a transaction with an Iranian financial institution in United States dollars. The President shall submit to the appropriate congressional committees a copy of each document described in paragraph
(2)not later than 30 days after the issuance of the document. A document described in this paragraph is any guidance, including executive actions, rules, regulations, frequently asked question documents, written communications, or any other commitments issued to an offshore dollar clearing entity regarding offshore dollar clearance for transactions with an Iranian financial institution in United States dollars. This section shall terminate on the date on which the President certifies to Congress that Iran is no longer a state sponsor of terrorism.
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Sec. 209
Prohibition on licenses for offshore dollar clearing transactions with Iranian financial institutions
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