Sec. 102. Sanctions with respect to the Government of the Democratic People’s Republic of Korea and its enablers
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On and after the date that is 180 days after the date of the enactment of this Act, the President shall block and prohibit all transactions in all property and interests in property of a person described in subsection
(d)if such property and interests in property are in the United States, come within the United States, or are or come within the possession or control of a United States person. 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 a foreign financial institution that the President determines has knowingly, on or after the date that is 180 days after the date of the enactment of this Act, conducted or facilitated a significant transaction with respect to the importation, exportation, sale, or transfer of goods, services, or technology to or from the Democratic People’s Republic of Korea on behalf of a person described in subsection (d). The President shall impose sanctions pursuant to the International Emergency Economic Powers Act ( 50 U.S.C. 1701 et seq.) with respect to a person if the President determines that the person knowingly, on or after the date that is 180 days after the date of the enactment of this Act, imports, exports, purchases, or transfers goods, services, or technology to or from a person described in subsection (d). A person described in this subsection is any of the following: The Government of the Democratic People’s Republic of Korea or any political subdivision, agency, or instrumentality of that Government. Any person owned or controlled, directly or indirectly, by that Government. Any person acting or purporting to act, directly or indirectly, for or on behalf of that Government. The following entities: Dandong Zhicheng Metallic Material Co. Ltd. Dandong Kehua Economic and Trade Co. Dandong Xinyang Chemical Rubber Co. Dandong Zhongze Trade Co. Ltd. Dandong Tianfu Trade Co. Ltd. Hunchun Xinshidai Industry and Trade Co. Ltd. Dandong Qiancang Trading Co. Ltd. Dalian West Pacific Petrochemical. Dandong Hao Du Trading Co. Ltd. Dandong Dongyuan Industrial Development Co. Ltd. Any person affiliated with an entity described in paragraph (4). Any person affiliated with an entity identified by the Secretary of the Treasury as a significant importer or exporter of goods, services, or technology to or from the Democratic People’s Republic of Korea. Any person who knowingly unloads, loads, services, fuels, maintains, provides insurance or reinsurance for, or otherwise engages in a significant transaction with a vessel owned, operated, or controlled by the Government of the Democratic People’s Republic of Korea or any political subdivision, agency, or instrumentality of that Government. Any person who knowingly engages in a significant transaction with a person owned, operated, or controlled by the Government of the Democratic People’s Republic of Korea or any political subdivision, agency, or instrumentality of that Government. The following activities are exempt from sanctions under this section: Activities subject to the reporting requirements under title V of the National Security Act of 1947 ( 50 U.S.C. 3091 et seq.). Authorized intelligence activities of the United States. Activities necessary to comply with United States obligations under the Agreement between the United Nations and the United States of America regarding the Headquarters of the United Nations, signed at Lake Success June 26, 1947, and entered into force November 21, 1947, the Convention on Consular Relations, done at Vienna April 24, 1963, and entered into force March 19, 1967, or any other international agreement. Activities incidental to the POW/MIA accounting mission in the Democratic People’s Republic of Korea, including activities by the Defense POW/MIA Accounting Agency and other governmental or nongovernmental organizations tasked with identifying or recovering the remains of members of the United States Armed Forces in the Democratic People’s Republic of Korea. The President may waive the application of sanctions under this section with respect to a person if the President— determines that the person is no longer engaged in sanctionable activities; or determines that the waiver is in the national security interest of the United States; and submits to the appropriate congressional committees a report on the determination and the reasons for the determination. The President may waive, for renewable periods of not less than 30 days and not more than one year, the application of sanctions under this section if the President submits to the appropriate congressional committees a written determination that the waiver is necessary for humanitarian assistance or to carry out the humanitarian purposes set forth in section 4 of the North Korean Human Rights Act of 2004 ( 22 U.S.C. 7802 ). A written determination submitted under subparagraph
(A)with respect to a waiver shall include a description of all notification and accountability controls that have been employed in order to ensure that the activities covered by the waiver are humanitarian assistance or are carried out for the purposes set forth in section 4 of the North Korean Human Rights Act of 2004 ( 22 U.S.C. 7802 ) and do not entail any activities in the Democratic People's Republic of Korea or dealings with the Government of the Democratic People's Republic of Korea not reasonably related to humanitarian assistance or those purposes. An internationally recognized humanitarian organization shall not be subject to sanctions under this section for— engaging in a financial transaction relating to humanitarian assistance or for humanitarian purposes pursuant to a waiver issued under subparagraph (A); transporting goods or services that are necessary to carry out operations relating to humanitarian assistance or humanitarian purposes pursuant to such a waiver; or having merely incidental contact, in the course of providing humanitarian assistance or aid for humanitarian purposes pursuant to such a waiver, with individuals who are under the control of a foreign person subject to sanctions under this section. A person described in subsection
(d)is subject to sanctions under this section without regard to whether the name of the person is published in the Federal Register or incorporated into the list of specially designated nationals and blocked persons maintained by the Office of Foreign Assets Control of the Department of the Treasury. Not later than 210 days after the date of the enactment of this Act, and every 90 days thereafter, the President shall submit to the appropriate congressional committees a list of persons (including foreign financial institutions) with respect to which sanctions are imposed— in the case of the first list, before the submission of the list; and in the case of any subsequent list, during the 90 days preceding the submission of the list. The list required by paragraph
(1)shall be submitted in unclassified form but may contain a classified annex. The unclassified portion of the list required by paragraph
(1)shall be made available to the public and posted on the websites of the Department of the Treasury and the Department of State. In this section: The term appropriate congressional committees means— the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate; and the Committee on Foreign Affairs and the Committee on Financial Services of the House of Representatives. The terms 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 term humanitarian assistance means assistance to meet humanitarian needs, including needs for food, medicine, medical supplies, clothing, and shelter. The term knowingly , with respect to conduct, a circumstance, or a result, means that a person has actual knowledge, or should have known, of the conduct, the circumstance, or the result. The term person means an individual or entity. The term United States person means— a United States citizen or an alien lawfully admitted for permanent residence to the United States; and an entity organized under the laws of the United States or any jurisdiction within the United States, including a foreign branch of such an entity.
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Sec. 102
Sanctions with respect to the Government of the Democratic People’s Republic of Korea and its enablers
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