Sec. 306. Implementation; penalties; termination
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The President may exercise all authorities provided to the President under sections 203 and 205 of the International Emergency Economic Powers Act ( 50 U.S.C. 1702 and 1704) to carry out this subtitle. A person that violates, attempts to violate, conspires to violate, or causes a violation of section 304 or 305, or any regulation, license, or order issued to carry out such sections, shall be subject to the penalties set forth in subsections
(b)and
(c)of section 206 of the International Emergency Economic Powers Act ( 50 U.S.C. 1705 ) to the same extent as a person that commits an unlawful act described in subsection
(a)of that section. The President may terminate the application of a sanction under section 304 or section 305(a)(2) if the President submits to Congress a determination that officers, employees, and agents of the Government of Russia no longer engage in the conduct described in section 304(a)(2) . The President may, on or after the date on which the President submits the determination described in paragraph
(1), waive the prohibition imposed pursuant to section 305(a)(1) with respect to Russian sovereign debt (as defined in such section) issued on or after such date if the President concurrently submits to Congress a notification that includes a justification of the basis for waiving such prohibition.
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