Sec. 4. Reinstatement of Sanctions with Respect to Iranian Funds Formerly Held in Escrow in South Korea
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The waiver of sanctions, including any waiver subject to the document entitled ‘‘Waiver of Sanctions with Respect to the Transfer of Funds from the Republic of Korea to Qatar” on funds held in South Korea on August 1, 2023, pursuant or in accordance with sections 1244(g)(2)(B)(ii)(II) and 1247(d)(2)(B)(ii) of the Iran Freedom and Counter-Proliferation Act of 2012 ( Public Law 112–239 ; 22 U.S.C. 8803(g)(2)(B)(ii)(II) and 8806(d)(2)(B)(ii)) or section 1245(d)(1) of the National Defense Authorization Act of Fiscal Year 2012 ( Public Law 112–81 ; 22 U.S.C. 8513a(d)(1) ) is hereby canceled.
General or specific licenses, comfort letters, frequently asked questions, or other such exemption issued in connection with waivers issued under subsection
(a)is hereby cancelled. The President shall, pursuant to the International Emergency Economic Powers Act ( 50 U.S.C. 1701 et seq. ), block and prohibit all transactions in all property and interests in property of any financial institution which process, participates in, or facilitates a transaction with respect to the funds described in subsection
(a)after the date of enactment of this Act 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.
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- Pub. L. 112-239
- Pub. L. 112-81
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Sec. 4
Reinstatement of Sanctions with Respect to Iranian Funds Formerly Held in Escrow in South Korea
Pub. L.Pub. L. 112-239
Pub. L.Pub. L. 112-81
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