Sec. 204. 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 five 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 Nonnuclear Sanctions Act of 2017 , 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 President may waive the application of subsection

(a)or

(b)with respect to a person for a period of 180 days, and may renew that waiver for additional periods of 180 days, if the President— determines that the waiver is vital to the national security of the United States; and not less than 7 days before the waiver or the renewal of the waiver, as the case may be, takes effect, submits a report to the appropriate congressional committees on the waiver and the reason for the waiver. The President may not exercise the waiver authority provided under paragraph

(1)to implement any international agreement with Iran unless, before exercising the waiver authority, the agreement is approved through the enactment of a joint resolution or the Senate provides its advice and consent with respect to the agreement pursuant to section 2 of article II of the Constitution of the United States. Each report submitted under paragraph (1)(B) shall be submitted in unclassified form, but may include a classified annex if necessary. 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. 204

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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