Sec. 7124. OPPOSITION TO ASSISTANCE BY THE INTERNATIONAL FINANCIAL INSTITUTIONS

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## SEC. 7124 OPPOSITION TO ASSISTANCE BY THE INTERNATIONAL FINANCIAL INSTITUTIONS ###

(a)In General The Bretton Woods Agreements Act (22 U.S.C. 286 et seq.) is amended by adding at the end the following: > > ## “SEC. 73 OPPOSITION TO ASSISTANCE FOR ANY GOVERNMENT THAT FAILS TO IMPLEMENT SANCTIONS ON NORTH KOREA > > **[**[22 U.S.C. 286yy](/us/usc/t22/s286yy)**]** > > > ### “(a) In General > > The Secretary of the Treasury shall instruct the United States Executive Director at each international financial institution (as defined in section 1701(c) of the International Financial Institutions Act (22 U.S.C. 262r(c))) that it is the policy of the United States to oppose the provision by that institution of financial assistance to a foreign government, other than assistance to support basic human needs, if the President determines that, in the year preceding consideration of approval of such assistance, the government has knowingly failed to adequately enforce sanctions under an applicable United Nations Security Council resolution (as defined in section 3 of the North Korea Sanctions and Policy Enhancement Act of 2016 (22 U.S.C. 9202)). > > > ### “(b) Waiver > > The President may waive subsection

(a)for up to 180 days at a time with respect to a foreign government if the President— > > > #### “(1) > > determines that— > > > ##### “(A) > > the failure of the foreign government described in subsection

(a)is due exclusively to a lack of capacity on the part of the foreign government; > > > ##### “(B) > > the foreign government is taking effective steps to prevent recurrence of such failure; or > > > ##### “(C) > > the waiver is in the national security interests of the United States; and > > > #### “(2) > > submits to Congress a report on the reasons for the determination under paragraph (1).” > . ###

(b)Termination **[**[22 U.S.C. 286yy note](/us/usc/t22/s286yy)**]** Effective on the date that is 10 years after the date of the enactment of this Act, section 73 of the Bretton Woods Agreements Act, as added by subsection (a), is repealed.

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Sec. 7124

OPPOSITION TO ASSISTANCE BY THE INTERNATIONAL FINANCIAL INSTITUTIONS

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