Sec. 202. Sanction described
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The sanction described in this section is the exercise of all powers granted to the President by the International Emergency Economic Powers Act ( 50 U.S.C. 1701 et seq. ) (except that the requirements of section 202 of such Act ( 50 U.S.C. 1701 ) shall not apply) to the extent necessary to block and prohibit all transactions in all property and interests in property of any foreign person or an agency or instrumentality of a foreign state, as the case may be, 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 may exercise all authorities provided under sections 203 and 205 of the International Emergency Economic Powers Act (50 U.S.C. 1702 and 1704) to carry out this title. The President shall prescribe such regulations as may be necessary for the implementation of this title. Not later than 10 days before the prescription of regulations under paragraph (1), the President shall brief the appropriate congressional committees regarding the proposed regulations and the provisions of this title that such regulations are implementing.
A person that violates, attempts to violate, or causes a violation of any sanction authorized by this title, or any regulation, license, or order issued to carry out such sanctions, 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 following activities shall not be subject to the imposition of sanctions under this title: Any authorized intelligence, law enforcement, or national security activities of the United States. Any transaction 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 States, signed at Lake Success June 26, 1947, and entered into force November 21, 1947, or the Convention on Consular Relations, done at Vienna April 24, 1963, and entered into force March 19, 1967, or any other United States international agreement. The President may, on a case-by-case basis and for periods not to exceed 180 days each, waive the application of sanctions imposed with respect to a foreign person under this title if the President certifies to the appropriate congressional committees, not later than 15 days before such waiver is to take effect, that the waiver is vital to the national security interests of the United States.
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