Sec. 6. Targeted financial sanctions
116 words·~1 min read·
/bill/116/hr/4695/ih/section-6·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than 15 days after the date of enactment of this Act, the President shall impose the sanctions described in section 11(1) with respect to Halk Bankası or Halkbank or any successor entity thereof. If the Secretary of State, in consultation with the Secretary of Defense, Secretary of Treasury, and Director of National Intelligence, determines that any financial institution, in addition to the financial institutions specified in subsection (a), has knowingly facilitated significant transactions for the Turkish Armed Forces or defense industry relating to Turkey’s invasion of northern Syria, the President shall, not later than 60 days after any such determination, impose the sanctions described in section 11(1) with respect to any such financial institution.