Sec. 304. Imposition of sanctions with respect to financial institutions that facilitate transactions for Turkish Armed Forces
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/bill/116/s/2641/is/section-304·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 following entities shall be subject to the same sanctions as a person included on the list of specially designated nationals and blocked persons maintained by the Office of Foreign Assets Control of the Department of the Treasury: Halk Bankasi; Halkbank; or any successor entity to an entity specified in paragraph
(1)or (2). If the Secretary of State, in consultation with the Secretary of Defense, the Secretary of Treasury, and the Director of National Intelligence, determines that any foreign financial institution (other than a financial institution specified in subsection (a)), has knowingly facilitated transactions for the Turkish Armed Forces or the defense industry in Turkey relating to the military operations of Turkey in Syria, the President shall, not later than 60 days after that determination, impose the sanctions described in section 307 with respect to that financial institution.