I 

115TH CONGRESS 

2D SESSION H. R. 4821 

To impose sanctions against entities owned or controlled by the Armed Forces 

of Iran, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JANUARY 18, 2018 

Mr. ROSKAM (for himself, Ms. CHENEY, Ms. GRANGER, Mr. GALLAGHER, Mrs. 

WALORSKI, Mr. BISHOP of Michigan, Mr. LAMBORN, Mr. RODNEY DAVIS

of Illinois, Mr. FERGUSON, Ms. STEFANIK, Mr. LAMALFA, Mrs. HANDEL, 

Mr. PITTENGER, Mr. CRAMER, Mr. KING of New York, Mr. ROKITA, Mr. 

DESANTIS, Mr. ROTHFUS, Mr. LANCE, and Mr. LAHOOD) introduced the 

following bill; which was referred to the Committee on Foreign Affairs, 

and in addition to the Committees on Financial Services, the Judiciary, 

Oversight and Government Reform, and Ways and Means, for a period 

to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee 

concerned 

A BILL 

To impose sanctions against entities owned or controlled 

by the Armed Forces of Iran, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE AND TABLE OF CONTENTS. 

4 (a) SHORT TITLE.—This Act may be cited as the 

5 ‘‘Iran Freedom Policy and Sanctions Act’’. 


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1 (b) TABLE OF CONTENTS.—The table of contents for 

2 this Act is as follows: 

Sec. 1. Short title and table of contents. 

Sec. 2. Findings. 

Sec. 3. Statement of policy. 

Sec. 4. Definitions. 

TITLE I—IMPOSITION OF SANCTIONS AGAINST ENTITIES OWNED 

OR CONTROLLED BY THE ARMED FORCES OF IRAN 

Sec. 101. Imposition of sanctions against entities owned or controlled by the 

Armed Forces of Iran. 

Sec. 102. Watch List and report. 

TITLE II—REINSTATEMENT OF SANCTIONS IMPOSED WITH RESPECT TO IRAN THAT WERE WAIVED, SUSPENDED, REDUCED, 

OR OTHERWISE RELIEVED PURSUANT TO THE JOINT COMPREHENSIVE PLAN OF ACTION 

Sec. 201. Reinstatement of sanctions imposed with respect to Iran that were 

waived, suspended, reduced, or otherwise relieved pursuant to 

the Joint Comprehensive Plan of Action. 

TITLE III—IRAN BALLISTIC MISSILE SANCTIONS ACT OF 2018 

Sec. 301. Short title. 

Sec. 302. Sense of Congress. 

Sec. 303. Expansion of sanctions with respect to efforts by Iran to acquire ballistic missile and related technology. 

Sec. 304. Extension of Iran Sanctions Act of 1996 and expansion of sanctions 

with respect to persons that acquire or develop ballistic missiles. 

Sec. 305. Imposition of sanctions with respect to ballistic missile program of 

Iran. 

Sec. 306. Expansion of mandatory sanctions with respect to financial institutions that engage in certain transactions relating to ballistic 

missile capabilities of Iran. 

Sec. 307. Regulations. 

3 SEC. 2. FINDINGS. 

4 Congress finds the following: 

5 (1) A nuclear-capable Iran threatens United 

6 States national security and global stability. 

7 (2) Since the 1980s, Iran has engaged in a sus8 tained and well-documented pattern of illicit and deVerDate Sep 11 2014 00:38 Jan 20, 2018 Jkt 079200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H4821.IH H4821

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1 ceptive activities to acquire a nuclear weapons capa2 bility. 

3 (3) It is the policy of the United States to pre4 vent Iran from acquiring a nuclear weapons capa5 bility. 

6 (4) Iran is developing an arsenal of advanced 

7 long-range ballistic missiles, including some already 

8 capable of reaching India, North Africa, western 

9 China, and parts of eastern Europe. 

10 (5) The Department of State has designated 

11 Iran as a state sponsor of terrorism since 1984 and 

12 has characterized Iran as the ‘‘most active state 

13 sponsor of terrorism’’ in the world. 

14 (6) Iran is a world leader in human rights vio15 lations, including the persecution of religious minori16 ties and imprisonment of United States citizens. 

17 (7) Beginning on December 28, 2017, Iranians 

18 from all social sectors have participated in protests 

19 against the Iranian regime’s oppressive domestic 

20 policies and destructive foreign policy, in which over 

21 1,000 protestors have been arrested and 21 have 

22 been killed. 

23 (8) The Joint Comprehensive Plan of Action 

24 fails to permanently prevent Iran from obtaining a 

25 nuclear weapons capability and fails to provide the 


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1 international community a legitimate inspections re2 gime to monitor Iran’s nuclear program. 

3 (9) The Joint Comprehensive Plan of Action al4 lows key restraints on Iran’s nuclear program to ex5 pire within 10 to 15 years, including those on Iran’s 

6 domestic uranium enrichment program and heavy7 water reactor at Arak. 

8 (10) United Nations Security Council Resolu9 tion 2231 (2015), which endorses the Joint Com10 prehensive Plan of Action, allows for lifting inter11 national restrictions on Iran with regards to conven12 tional military arms and ballistic missiles. 

13 (11) The Joint Comprehensive Plan of Action 

14 fails to address Iran’s egregious human rights 

15 record, Iran’s role as the world’s leading state-spon16 sor of international terrorism, and Iran’s unjust im17 prisonment of innocent United States citizens. 

18 (12) On numerous occasions, Iran has violated 

19 both the letter and the spirit of the Joint Com20 prehensive Plan of Action and its related agreements 

21 by exceeding the limits of heavy water production, 

22 testing ballistic missiles, seeking to acquire poten23 tially illicit materials outside the mandatory procure24 ment channel, and sending arms to terrorist groups 

25 around the Middle East. 


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1 (13) The current Joint Comprehensive Plan of 

2 Action framework is insufficient in blocking Iran 

3 from developing a nuclear weapons capability, and it 

4 is in the United States national security interest to 

5 renegotiate this agreement to strengthen its terms or 

6 to abrogate the agreement and use all necessary 

7 measures to prevent Iran from developing a nuclear 

8 weapon. 

9 SEC. 3. STATEMENT OF POLICY. 

10 It is the policy of the United States that the United 

11 States should— 

12 (1) deny the Government of Iran the ability to 

13 continue to oppress the people of Iran and to use vi14 olence and executions against pro-democracy protest15 ors and regime opponents; 

16 (2) fully and publicly support efforts made by 

17 the people of Iran to promote the establishment of 

18 basic freedoms that build the foundation for the 

19 emergence of a freely elected, open, and democratic 

20 political system; 

21 (3) help the people of Iran produce, access, and 

22 share information freely and safely via the Internet 

23 and through other media; 

24 (4) defeat all attempts by the Government of 

25 Iran to jam or otherwise obstruct international satVerDate Sep 11 2014 00:38 Jan 20, 2018 Jkt 079200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\H4821.IH H4821

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1 ellite broadcast signals, internet access, or social 

2 media access for the people of Iran; 

3 (5) ensure Iran is permanently prevented from 

4 obtaining a nuclear weapons capability; 

5 (6) extend indefinitely upon Iran restrictions on 

6 nuclear-related activities to prevent both the ura7 nium and plutonium pathways to nuclear weaponiza8 tion; and 

9 (7) seek a United Nations Security Council res10 olution permanently extending prohibitions on Iran’s 

11 ballistic missile and arms embargo as found in para12 graphs 3 and 4 of Annex B of United Nations Secu13 rity Council Resolution 2231 (2015). 

14 SEC. 4. DEFINITIONS. 

15 In this Act: 

16 (1) APPROPRIATE CONGRESSIONAL COMMIT17 TEES.—The term ‘‘appropriate congressional com18 mittees’’ has the meaning given that term in section 

19 14 of the Iran Sanctions Act of 1996 (Public Law 

20 104–172; 50 U.S.C. 1701 note). 

21 (2) ENTITY.—The term ‘‘entity’’ means any 

22 corporation, business association, partnership, trust, 

23 society, or any other entity. 

24 (3) IRGC.—The term ‘‘IRGC’’ means Iran’s 

25 Revolutionary Guard Corps. 


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1 (4) JOINT COMPREHENSIVE PLAN OF ACTION.— 

2 The term ‘‘Joint Comprehensive Plan of Action’’ 

3 means the Joint Comprehensive Plan of Action, 

4 agreed to at Vienna on July 14, 2015, by Iran and 

5 by the People’s Republic of China, France, Ger6 many, the Russian Federation, the United Kingdom 

7 and the United States, with the High Representative 

8 of the European Union for Foreign Affairs and Se9 curity Policy, and all implementing materials and 

10 agreements related to the Joint Comprehensive Plan 

11 of Action. 

12 (5) NPT SAFEGUARDS AGREEMENT.—The term 

13 ‘‘NPT Safeguards Agreement’’ means the Agree14 ment between Iran and the International Atomic 

15 Energy Agency for the Application of Safeguards in 

16 Connection with the Treaty on the Non-Proliferation 

17 of Nuclear Weapons, which entered into force on 

18 May 15, 1974. 

19 (6) PERSON.—The term ‘‘person’’ means an in20 dividual or entity. 


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1 TITLE I—IMPOSITION OF SANC2 TIONS AGAINST ENTITIES 

3 OWNED OR CONTROLLED BY 

4 THE ARMED FORCES OF IRAN 

5 SEC. 101. IMPOSITION OF SANCTIONS AGAINST ENTITIES 

6 OWNED OR CONTROLLED BY THE ARMED 

7 FORCES OF IRAN. 

8 (a) IN GENERAL.—The President shall impose the 

9 sanctions described in subsection (c) with respect to any 

10 entity described in subsection (b). 

11 (b) ENTITY DESCRIBED.— 

12 (1) IN GENERAL.—An entity described in this 

13 subsection is an entity, including an entity listed on 

14 the Tehran Stock Exchange, that is owned or con15 trolled by the Armed Forces of Iran regardless of 

16 whether the entity itself is included on the list of 

17 specially designated nationals and blocked persons 

18 maintained by the Office of Foreign Assets Control 

19 of the Department of the Treasury. 

20 (2) DEFINITION.—In this subsection, the term 

21 ‘‘Armed Forces of Iran’’ includes— 

22 (A) Iran’s Revolutionary Guard Corps; 

23 (B) the Basij paramilitary; 

24 (C) the regular military; 


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1 (D) the Ministry of Defense and Armed 

2 Forces Logistics (MODAFL); 

3 (E) the police; and 

4 (F) the General Staff of the Armed 

5 Forces. 

6 (c) SANCTIONS DESCRIBED.— 

7 (1) IN GENERAL.—The blocking, in accordance 

8 with the International Emergency Economic Powers 

9 Act (50 U.S.C. 1701 et seq.), of all transactions in 

10 all property and interests in property of an entity if 

11 such property and interests in property are in the 

12 United States, come within the United States, or are 

13 or come within the possession or control of a United 

14 States person. 

15 (2) INAPPLICABILITY OF NATIONAL EMER16 GENCY REQUIREMENT.—The requirements of section 

17 202 of the International Emergency Economic Pow18 ers Act (50 U.S.C. 1701) shall not apply for pur19 poses of this section. 

20 (d) DEFINITIONS.—In this section: 

21 (1) UNITED STATES PERSON.—The term 

22 ‘‘United States person’’ means— 

23 (A) a United States citizen or an alien law24 fully admitted for permanent residence to the 

25 United States; or 


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1 (B) an entity organized under the laws of 

2 the United States or of any jurisdiction within 

3 the United States, including a foreign branch of 

4 such an entity. 

5 (2) OWN OR CONTROL.—The term ‘‘own or con6 trol’’ means, with respect to an entity— 

7 (A) to hold more than 20 percent of the 

8 equity interest by vote or value in the entity; 

9 (B) to hold a majority of seats on the 

10 board of directors of the entity; or 

11 (C) to otherwise control the actions, poli12 cies, or personnel decisions of the entity. 

13 SEC. 102. WATCH LIST AND REPORT. 

14 (a) IN GENERAL.—The Secretary of the Treasury 

15 shall establish, maintain, and publish in the Federal Reg16 ister a list of each entity with respect to which the Armed 

17 Forces of Iran (as defined in section 101(b)(2))— 

18 (1) holds less than 20 percent of the equity in19 terest by vote or value in the entity; or 

20 (2) does not own any interest in the entity but 

21 maintains a presence on the board of directors of the 

22 entity or otherwise influences the actions, policies, or 

23 personnel decisions of the entity. 

24 (b) REPORT.—Not later than 90 days after the date 

25 of the enactment of the Act, and annually thereafter, the 


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1 Secretary of the Treasury shall submit to Congress a re2 port on any changes to the list required by subsection (a). 

3 (c) REFERENCE.—The list required by subsection (a) 

4 shall be known as the ‘‘IRGC Watch List’’. 

5 TITLE II—REINSTATEMENT OF 

6 SANCTIONS IMPOSED WITH 

7 RESPECT TO IRAN THAT 

8 WERE WAIVED, SUSPENDED, 

9 REDUCED, OR OTHERWISE 

10 RELIEVED PURSUANT TO THE 

11 JOINT COMPREHENSIVE 

12 PLAN OF ACTION 

13 SEC. 201. REINSTATEMENT OF SANCTIONS IMPOSED WITH 

14 RESPECT TO IRAN THAT WERE WAIVED, SUS15 PENDED, REDUCED, OR OTHERWISE RE16 LIEVED PURSUANT TO THE JOINT COM17 PREHENSIVE PLAN OF ACTION. 

18 (a) IN GENERAL.—The reinstatement of sanctions 

19 imposed with respect to Iran pursuant to subsection (d) 

20 shall not take effect with respect to the 90-day period be21 ginning on the date of the enactment of this Act or any 

22 90-day period thereafter for which a certification described 

23 in subsection (b) is in effect. 

24 (b) CERTIFICATION.—A certification described in this 

25 subsection is a certification submitted by the President to 


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1 the appropriate congressional committees with respect to 

2 a 90-day period described in subsection (a) that contains 

3 a determination of the President that— 

4 (1) the Government of Iran has not— 

5 (A) undertaken any activity related to bal6 listic missiles designed to be capable of deliv7 ering nuclear weapons, including launches using 

8 ballistic missile technology; 

9 (B) undertaken any activity to— 

10 (i) produce sufficient weapons-grade 

11 uranium or plutonium for a nuclear weap12 on in under 12 months; 

13 (ii) maintain an excess of over 300 

14 kilograms of Low Enriched Uranium; and 

15 (iii) maintain an excess of 130 metric 

16 tons of heavy water; 

17 (C) undertaken any activity to— 

18 (i) increase uranium enrichment levels 

19 beyond 3.67 percent; 

20 (ii) develop, produce, or install ad21 vanced centrifuges; and 

22 (iii) build new heavy water facilities or 

23 restore currently established facilities to 

24 operating capacity; and 


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1 (D) denied the international community 

2 unfettered, unannounced, and indefinite access 

3 to Iran’s nuclear program, including ‘‘any4 where, anytime’’ access and inspections of 

5 places, personnel, and paperwork, including 

6 physical access by the International Atomic En7 ergy Agency to all suspicious sites, including 

8 military facilities, to monitor both overt and 

9 covert attempts by Iran develop a nuclear weap10 on; and 

11 (2) the Government of Iran has— 

12 (A) ratified and implemented the Addi13 tional Protocol to the NPT Safeguards Agree14 ment; and 

15 (B) provided complete and full disclosure 

16 of the extent of Iran’s nuclear activities, includ17 ing a report on any possible military dimensions 

18 of Iran’s nuclear program based on full access 

19 to suspected sites and all scientists involved in 

20 military dimensions of such program. 

21 (c) CERTIFICATION NOT SUBMITTED.—In the event 

22 the President does not submit a certification described in 

23 subsection (b) to the appropriate congressional committees 

24 pursuant to subsection (b) with respect to a 90-day period 

25 described in subsection (a), the requirement to reinstate 


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1 sanctions imposed with respect to Iran pursuant to sub2 section (d) shall take effect. 

3 (d) REINSTATEMENT OF SANCTIONS.— 

4 (1) STATUTORY SANCTIONS.—Any statutory 

5 sanctions imposed with respect to Iran pursuant to 

6 the provisions of law described in subsection (e) that 

7 were waived, suspended, reduced, or otherwise re8 lieved pursuant to the Joint Comprehensive Plan of 

9 Action, submitted pursuant to section 135(a) of the 

10 Atomic Energy Act of 1954, are hereby reinstated 

11 and any action by the United States Government to 

12 facilitate the release of funds or assets to Iran pur13 suant to the Joint Comprehensive Plan of Action, or 

14 provide any further waiver, suspension, reduction, or 

15 other relief pursuant to the Joint Comprehensive 

16 Plan of Action is hereby prohibited. 

17 (2) SANCTIONS PURSUANT TO EXECUTIVE OR18 DERS.—Any sanctions imposed with respect to Iran 

19 pursuant to the Executive orders described in sub20 section (f) that were revoked pursuant to sections 1 

21 and 2(a) of Executive Order 13716 of January 16, 

22 2016 (Revocation of Executive Orders 13574, 

23 13590, 13622, and 13645 With Respect to Iran, 

24 Amendment of Executive Order 13628 With Respect 

25 to Iran, and Provision of Implementation Authorities 


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1 for Aspects of Certain Statutory Sanctions Outside 

2 the Scope of U.S. Commitments Under the Joint 

3 Comprehensive Plan of Action of July 14, 2015) are 

4 hereby reinstated. 

5 (e) PROVISIONS OF LAW DESCRIBED.—The provi6 sions of law described in this subsection are the following: 

7 (1) The Iran Sanctions Act of 1996 (Public 

8 Law 104–172; 50 U.S.C. 1701 note). 

9 (2) Section 1245(d)(5) of the National Defense 

10 Authorization Act for Fiscal Year 2012 (22 U.S.C. 

11 8513a(d)(5)). 

12 (3) Sections 212(d)(1) and 213(b)(1) of the 

13 Iran Threat Reduction and Syrian Human Rights 

14 Act of 2012 (22 U.S.C. 8722(d)(1) and 8723(b)(1)). 

15 (4) Sections 1244(i), 1245(g), and 1247(f) of 

16 the Iran Freedom and Counter-Proliferation Act of 

17 2012 (22 U.S.C. 8803(i), 8804(g), and 8806(f)). 

18 (f) EXECUTIVE ORDERS DESCRIBED.—The Execu19 tive orders described in this subsection are the following: 

20 (1) Executive Order 13574 of May 23, 2011 

21 (Authorizing the Implementation of Certain Sanc22 tions Set Forth in the Iran Sanctions Act of 1996); 

23 (2) Executive Order 13590 of November 20, 

24 2011 (Authorizing the Imposition of Certain Sanc25 tions With Respect to the Provision of Goods, ServVerDate Sep 11 2014 00:38 Jan 20, 2018 Jkt 079200 PO 00000 Frm 00015 Fmt 6652 Sfmt 6201 E:\BILLS\H4821.IH H4821

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1 ices, Technology, or Support for Iran’s Energy and 

2 Petrochemical Sectors). 

3 (3) Executive Order 13622 of July 30, 2012 

4 (Authorizing Additional Sanctions With Respect to 

5 Iran). 

6 (4) Executive Order 13645 of June 3, 2013 

7 (Authorizing the Implementation of Certain Sanc8 tions Set Forth in the Iran Freedom and Counter9 Proliferation Act of 2012 and Additional Sanctions 

10 With Respect To Iran). 

11 (5) Sections 5 through 7 of Executive Order 

12 13628 of October 9, 2012 (Authorizing the Imple13 mentation of Certain Sanctions Set Forth in the 

14 Iran Threat Reduction and Syria Human Rights Act 

15 of 2012 and Additional Sanctions with Respect to 

16 Iran). 

17 TITLE III—IRAN BALLISTIC 

18 MISSILE SANCTIONS ACT OF 2018 

19 SEC. 301. SHORT TITLE. 

20 This title may be cited as the ‘‘Iran Ballistic Missile 

21 Sanctions Act of 2018’’. 

22 SEC. 302. SENSE OF CONGRESS. 

23 It is the sense of Congress that— 

24 (1) the ballistic missile program of Iran rep25 resents a serious threat to allies of the United States 


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1 in the Middle East and Europe, members of the 

2 Armed Forces deployed in the those regions, and ul3 timately the United States; 

4 (2) the testing and production by Iran of bal5 listic missiles capable of carrying a nuclear device is 

6 a clear violation of United Nations Security Council 

7 Resolution 2231 (2015), which was unanimously 

8 adopted by the international community; 

9 (3) Iran is using its space launch program to 

10 develop the capabilities necessary to deploy an inter11 continental ballistic missile that could threaten the 

12 United States, and the Director of National Intel13 ligence has assessed that Iran would use ballistic 

14 missiles as its ‘‘preferred method of delivering nu15 clear weapons’’; and 

16 (4) the Government of the United States should 

17 impose tough primary and secondary sanctions 

18 against any sector of the economy of Iran or any 

19 Iranian person that directly or indirectly supports 

20 the ballistic missile program of Iran as well as any 

21 foreign person or financial institution that engages 

22 in transactions or trade that support that program. 


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1 SEC. 303. EXPANSION OF SANCTIONS WITH RESPECT TO EF2 FORTS BY IRAN TO ACQUIRE BALLISTIC MIS3 SILE AND RELATED TECHNOLOGY. 

4 (a) CERTAIN PERSONS.—Section 1604(a) of the 

5 Iran-Iraq Arms Non-Proliferation Act of 1992 (Public 

6 Law 102–484; 50 U.S.C. 1701 note) is amended, in the 

7 matter preceding paragraph (1), by inserting ‘‘, to acquire 

8 ballistic missile or related technology,’’ after ‘‘nuclear 

9 weapons’’. 

10 (b) FOREIGN COUNTRIES.—Section 1605(a) of the 

11 Iran-Iraq Arms Non-Proliferation Act of 1992 (Public 

12 Law 102–484; 50 U.S.C. 1701 note) is amended, in the 

13 matter preceding paragraph (1), by inserting ‘‘, to acquire 

14 ballistic missile or related technology,’’ after ‘‘nuclear 

15 weapons’’. 

16 SEC. 304. EXTENSION OF IRAN SANCTIONS ACT OF 1996 AND 

17 EXPANSION OF SANCTIONS WITH RESPECT 

18 TO PERSONS THAT ACQUIRE OR DEVELOP 

19 BALLISTIC MISSILES. 

20 (a) EXPANSION OF MANDATORY SANCTIONS.—Sec21 tion 5(b)(1)(B) of the Iran Sanctions Act of 1996 (Public 

22 Law 104–172; 50 U.S.C. 1701 note) is amended— 

23 (1) in clause (i), by striking ‘‘would likely’’ and 

24 inserting ‘‘may’’; and 

25 (2) in clause (ii)— 


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1 (A) in subclause (I), by striking ‘‘; or’’ and 

2 inserting a semicolon; 

3 (B) by redesignating subclause (II) as sub4 clause (III); and 

5 (C) by inserting after subclause (I) the fol6 lowing: 

7 ‘‘(II) acquire or develop ballistic 

8 missiles and the capability to launch 

9 ballistic missiles; or’’. 

10 (b) EXTENSION OF IRAN SANCTIONS ACT OF 1996.— 

11 Section 13(b) of the Iran Sanctions Act of 1996 (Public 

12 Law 104–172; 50 U.S.C. 1701 note) is amended by strik13 ing ‘‘December 31, 2026’’ and inserting ‘‘December 31, 

14 2031’’. 

15 SEC. 305. IMPOSITION OF SANCTIONS WITH RESPECT TO 

16 BALLISTIC MISSILE PROGRAM OF IRAN. 

17 (a) IN GENERAL.—Title II of the Iran Threat Reduc18 tion and Syria Human Rights Act of 2012 (22 U.S.C. 

19 8721 et seq.) is amended by adding at the end the fol20 lowing: 

21 ‘‘Subtitle C—Measures Relating to 

22 Ballistic Missile Program of Iran 

23 ‘‘SEC. 231. DEFINITIONS. 

24 ‘‘(a) IN GENERAL.—In this subtitle: 


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1 ‘‘(1) AGRICULTURAL COMMODITY.—The term 

2 ‘agricultural commodity’ has the meaning given that 

3 term in section 102 of the Agricultural Trade Act of 

4 1978 (7 U.S.C. 5602). 

5 ‘‘(2) APPROPRIATE COMMITTEES OF CON6 GRESS.—The term ‘appropriate committees of Con7 gress’ means— 

8 ‘‘(A) the committees specified in section 

9 14(2) of the Iran Sanctions Act of 1996 (Public 

10 Law 104–172; 50 U.S.C. 1701 note); and 

11 ‘‘(B) the congressional defense committees, 

12 as defined in section 101 of title 10, United 

13 States Code. 

14 ‘‘(3) CORRESPONDENT ACCOUNT; PAYABLE15 THROUGH ACCOUNT.—The terms ‘correspondent ac16 count’ and ‘payable-through account’ have the mean17 ings given those terms in section 5318A of title 31, 

18 United States Code. 

19 ‘‘(4) FOREIGN FINANCIAL INSTITUTION.—The 

20 term ‘foreign financial institution’ has the meaning 

21 of that term as determined by the Secretary of the 

22 Treasury pursuant to section 104(i) of the Com23 prehensive Iran Sanctions, Accountability, and Di24 vestment Act of 2010 (22 U.S.C. 8513(i)). 


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1 ‘‘(5) GOOD.—The term ‘good’ has the meaning 

2 given that term in section 16 of the Export Adminis3 tration Act of 1979 (50 U.S.C. 4618) (as continued 

4 in effect pursuant to the International Emergency 

5 Economic Powers Act (50 U.S.C. 1701 et seq.)). 

6 ‘‘(6) GOVERNMENT.—The term ‘Government’, 

7 with respect to a foreign country, includes any agen8 cies or instrumentalities of that Government and any 

9 entities controlled by that Government. 

10 ‘‘(7) MEDICAL DEVICE.—The term ‘medical de11 vice’ has the meaning given the term ‘device’ in sec12 tion 201 of the Federal Food, Drug, and Cosmetic 

13 Act (21 U.S.C. 321). 

14 ‘‘(8) MEDICINE.—The term ‘medicine’ has the 

15 meaning given the term ‘drug’ in section 201 of the 

16 Federal Food, Drug, and Cosmetic Act (21 U.S.C. 

17 321). 

18 ‘‘(b) DETERMINATIONS OF SIGNIFICANCE.—For pur19 poses of this subtitle, in determining if financial trans20 actions or financial services are significant, the President 

21 may consider the totality of the facts and circumstances, 

22 including factors similar to the factors set forth in section 

23 561.404 of title 31, Code of Federal Regulations (or any 

24 corresponding similar regulation or ruling). 


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1 ‘‘SEC. 232. IMPOSITION OF SANCTIONS WITH RESPECT TO 

2 PERSONS THAT SUPPORT THE BALLISTIC 

3 MISSILE PROGRAM OF IRAN. 

4 ‘‘(a) IDENTIFICATION OF PERSONS.— 

5 ‘‘(1) IN GENERAL.—Not later than 120 days 

6 after the date of the enactment of the Iran Ballistic 

7 Missile Sanctions Act of 2018, and not less fre8 quently than once every 180 days thereafter, the 

9 President shall, in coordination with the Secretary of 

10 Defense, the Director of National Intelligence, the 

11 Secretary of the Treasury, and the Secretary of 

12 State, submit to the appropriate committees of Con13 gress a report identifying persons that have know14 ingly aided the Government of Iran in the develop15 ment of the ballistic missile program of Iran. 

16 ‘‘(2) ELEMENTS.—Each report required by 

17 paragraph (1) shall include the following: 

18 ‘‘(A) An identification of persons 

19 (disaggregated by Iranian and non-Iranian per20 sons) that have knowingly aided the Govern21 ment of Iran in the development of the ballistic 

22 missile program of Iran, including persons that 

23 have— 

24 ‘‘(i) knowingly engaged in the direct 

25 or indirect provision of material support to 

26 such program; 


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1 ‘‘(ii) knowingly facilitated, supported, 

2 or engaged in activities to further the de3 velopment of such program; 

4 ‘‘(iii) knowingly transmitted informa5 tion relating to ballistic missiles to the 

6 Government of Iran; or 

7 ‘‘(iv) otherwise knowingly aided such 

8 program. 

9 ‘‘(B) A description of the character and 

10 significance of the cooperation of each person 

11 identified under subparagraph (A) with the 

12 Government of Iran with respect to such pro13 gram. 

14 ‘‘(C) An assessment of the cooperation of 

15 the Government of the Democratic People’s Re16 public of Korea with the Government of Iran 

17 with respect to such program. 

18 ‘‘(3) CLASSIFIED ANNEX.—Each report re19 quired by paragraph (1) shall be submitted in un20 classified form, but may contain a classified annex. 

21 ‘‘(b) BLOCKING OF PROPERTY.— 

22 ‘‘(1) IN GENERAL.—Not later than 15 days 

23 after submitting a report required by subsection 

24 (a)(1), the President shall, in accordance with the 

25 International Emergency Economic Powers Act (50 


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1 U.S.C. 1701 et seq.), block and prohibit all trans2 actions in all property and interests in property of 

3 any person specified in such report if such property 

4 and interests in property are in the United States, 

5 come within the United States, or are or come with6 in the possession or control of a United States per7 son. 

8 ‘‘(2) INAPPLICABILITY OF NATIONAL EMER9 GENCY REQUIREMENT.—The requirements under 

10 section 202 of the International Emergency Eco11 nomic Powers Act (50 U.S.C. 1701) shall not apply 

12 for purposes of this subsection. 

13 ‘‘(c) EXCLUSION FROM UNITED STATES.— 

14 ‘‘(1) IN GENERAL.—Except as provided in para15 graph (2), the Secretary of State shall deny a visa 

16 to, and the Secretary of Homeland Security shall ex17 clude from the United States, any alien subject to 

18 blocking of property and interests in property under 

19 subsection (b). 

20 ‘‘(2) COMPLIANCE WITH UNITED NATIONS

21 HEADQUARTERS AGREEMENT.—Paragraph (1) shall 

22 not apply to the head of state of Iran, or necessary 

23 staff of that head of state, if admission to the 

24 United States is necessary to permit the United 

25 States to comply with the Agreement regarding the 


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1 Headquarters of the United Nations, signed at Lake 

2 Success June 26, 1947, and entered into force No3 vember 21, 1947, between the United Nations and 

4 the United States. 

5 ‘‘(d) FACILITATION OF CERTAIN TRANSACTIONS.— 

6 The President shall prohibit the opening, and prohibit or 

7 impose strict conditions on the maintaining, in the United 

8 States of a correspondent account or a payable-through 

9 account by a foreign financial institution that the Presi10 dent determines knowingly, on or after the date that is 

11 180 days after the date of the enactment of the Iran Bal12 listic Missile Sanctions Act of 2018, conducts or facilitates 

13 a significant financial transaction for a person subject to 

14 blocking of property and interests in property under sub15 section (b). 

16 ‘‘SEC. 233. BLOCKING OF PROPERTY OF PERSONS AFFILI17 ATED WITH CERTAIN IRANIAN ENTITIES. 

18 ‘‘(a) BLOCKING OF PROPERTY.— 

19 ‘‘(1) IN GENERAL.—The President shall, in ac20 cordance with the International Emergency Eco21 nomic Powers Act (50 U.S.C. 1701 et seq.), block 

22 and prohibit all transactions in all property and in23 terests in property of any person described in para24 graph (3) if such property and interests in property 

25 are in the United States, come within the United 


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1 States, or are or come within the possession or con2 trol of a United States person. 

3 ‘‘(2) INAPPLICABILITY OF NATIONAL EMER4 GENCY REQUIREMENT.—The requirements under 

5 section 202 of the International Emergency Eco6 nomic Powers Act (50 U.S.C. 1701) shall not apply 

7 for purposes of this subsection. 

8 ‘‘(3) PERSONS DESCRIBED.—A person de9 scribed in this paragraph is— 

10 ‘‘(A) an entity that is owned, directly or 

11 indirectly, by a 20 percent or greater interest— 

12 ‘‘(i) by the Aerospace Industries Or13 ganization, the Shahid Hemmat Industrial 

14 Group, the Shahid Bakeri Industrial 

15 Group, or any agent or affiliate of such or16 ganization or group; or 

17 ‘‘(ii) collectively by a group of individ18 uals that hold an interest in the Aerospace 

19 Industries Organization, the Shahid 

20 Hemmat Industrial Group, the Shahid 

21 Bakeri Industrial Group, or any agent or 

22 affiliate of such organization or group, 

23 even if none of those individuals hold a 20 

24 percent or greater interest in the entity; 


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1 ‘‘(B) a person that controls, manages, or 

2 directs an entity described in subparagraph (A); 

3 or 

4 ‘‘(C) an individual who is on the board of 

5 directors of an entity described in subparagraph 

6 (A). 

7 ‘‘(b) FACILITATION OF CERTAIN TRANSACTIONS.— 

8 The President shall prohibit the opening, and prohibit or 

9 impose strict conditions on the maintaining, in the United 

10 States of a correspondent account or a payable-through 

11 account by a foreign financial institution that the Presi12 dent determines knowingly, on or after the date that is 

13 180 days after the date of the enactment of the Iran Bal14 listic Missile Sanctions Act of 2018, conducts or facilitates 

15 a significant financial transaction for a person subject to 

16 blocking of property and interests in property under sub17 section (a). 

18 ‘‘(c) IRAN MISSILE PROLIFERATION WATCH LIST.— 

19 ‘‘(1) IN GENERAL.—Not later than 90 days 

20 after the date of the enactment of the Iran Ballistic 

21 Missile Sanctions Act of 2018, and not less fre22 quently than annually thereafter, the Secretary of 

23 the Treasury shall submit to the appropriate com24 mittees of Congress and publish in the Federal Reg25 ister a list of— 


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1 ‘‘(A) each entity in which the Aerospace 

2 Industries Organization, the Shahid Hemmat 

3 Industrial Group, the Shahid Bakeri Industrial 

4 Group, or any agent or affiliate of such organi5 zation or group has an ownership interest of 

6 more than 0 percent and less than 20 percent; 

7 ‘‘(B) each entity in which the Aerospace 

8 Industries Organization, the Shahid Hemmat 

9 Industrial Group, the Shahid Bakeri Industrial 

10 Group, or any agent or affiliate of such organi11 zation or group does not have an ownership in12 terest but maintains a presence on the board of 

13 directors of the entity or otherwise influences 

14 the actions, policies, or personnel decisions of 

15 the entity; and 

16 ‘‘(C) each person that controls, manages, 

17 or directs an entity described in subparagraph 

18 (A) or (B). 

19 ‘‘(2) REFERENCE.—The list required by para20 graph (1) may be referred to as the ‘Iran Missile 

21 Proliferation Watch List’. 

22 ‘‘(d) COMPTROLLER GENERAL REPORT.— 

23 ‘‘(1) IN GENERAL.—The Comptroller General of 

24 the United States shall— 


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1 ‘‘(A) conduct a review of each list required 

2 by subsection (c)(1); and 

3 ‘‘(B) not later than 60 days after each 

4 such list is submitted to the appropriate com5 mittees of Congress under that subsection, sub6 mit to the appropriate committees of Congress 

7 a report on the review conducted under sub8 paragraph (A) that includes a list of persons 

9 not included in that list that qualify for inclu10 sion in that list, as determined by the Comp11 troller General. 

12 ‘‘(2) CONSULTATIONS.—In preparing the report 

13 required by paragraph (1)(B), the Comptroller Gen14 eral shall consult with nongovernmental organiza15 tions. 

16 ‘‘SEC. 234. IMPOSITION OF SANCTIONS WITH RESPECT TO 

17 CERTAIN PERSONS INVOLVED IN BALLISTIC 

18 MISSILE ACTIVITIES. 

19 ‘‘(a) CERTIFICATION.—Not later than 120 days after 

20 the date of the enactment of the Iran Ballistic Missile 

21 Sanctions Act of 2018, and not less frequently than once 

22 every 180 days thereafter, the President shall submit to 

23 the appropriate committees of Congress a certification 

24 that each person listed in an annex of United Nations Se25 curity Council Resolution 1737 (2006), 1747 (2007), or 


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1 1929 (2010) is not directly or indirectly facilitating, sup2 porting, or involved with the development of or transfer 

3 to Iran of ballistic missiles or technology, parts, compo4 nents, or technology information relating to ballistic mis5 siles. 

6 ‘‘(b) BLOCKING OF PROPERTY.— 

7 ‘‘(1) IN GENERAL.—If the President is unable 

8 to make a certification under subsection (a) with re9 spect to a person and the person is not currently 

10 subject to sanctions with respect to Iran under any 

11 other provision of law, the President shall, not later 

12 than 15 days after that certification would have been 

13 required under that subsection— 

14 ‘‘(A) in accordance with the International 

15 Emergency Economic Powers Act (50 U.S.C. 

16 1701 et seq.), block and prohibit all trans17 actions in all property and interests in property 

18 of that person if such property and interests in 

19 property are in the United States, come within 

20 the United States, or are or come within the 

21 possession or control of a United States person; 

22 and 

23 ‘‘(B) publish in the Federal Register a re24 port describing the reason why the President 


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1 was unable to make a certification with respect 

2 to that person. 

3 ‘‘(2) INAPPLICABILITY OF NATIONAL EMER4 GENCY REQUIREMENT.—The requirements under 

5 section 202 of the International Emergency Eco6 nomic Powers Act (50 U.S.C. 1701) shall not apply 

7 for purposes of this subsection. 

8 ‘‘(c) EXCLUSION FROM UNITED STATES.— 

9 ‘‘(1) IN GENERAL.—Except as provided in para10 graph (2), the Secretary of State shall deny a visa 

11 to, and the Secretary of Homeland Security shall ex12 clude from the United States, any alien subject to 

13 blocking of property and interests in property under 

14 subsection (b). 

15 ‘‘(2) COMPLIANCE WITH UNITED NATIONS

16 HEADQUARTERS AGREEMENT.—Paragraph (1) shall 

17 not apply to the head of state of Iran, or necessary 

18 staff of that head of state, if admission to the 

19 United States is necessary to permit the United 

20 States to comply with the Agreement regarding the 

21 Headquarters of the United Nations, signed at Lake 

22 Success June 26, 1947, and entered into force No23 vember 21, 1947, between the United Nations and 

24 the United States. 


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1 ‘‘(d) FACILITATION OF CERTAIN TRANSACTIONS.— 

2 The President shall prohibit the opening, and prohibit or 

3 impose strict conditions on the maintaining, in the United 

4 States of a correspondent account or a payable-through 

5 account by a foreign financial institution that the Presi6 dent determines knowingly, on or after the date that is 

7 180 days after the date of the enactment of the Iran Bal8 listic Missile Sanctions Act of 2018, conducts or facilitates 

9 a significant financial transaction for a person subject to 

10 blocking of property and interests in property under sub11 section (b). 

12 ‘‘SEC. 235. IMPOSITION OF SANCTIONS WITH RESPECT TO 

13 CERTAIN SECTORS OF IRAN THAT SUPPORT 

14 THE BALLISTIC MISSILE PROGRAM OF IRAN. 

15 ‘‘(a) LIST OF SECTORS.— 

16 ‘‘(1) IN GENERAL.—Not later than 120 days 

17 after the date of the enactment of the Iran Ballistic 

18 Missile Sanctions Act of 2018, and not less fre19 quently than once every 180 days thereafter, the 

20 President shall submit to the appropriate commit21 tees of Congress and publish in the Federal Register 

22 a list of the sectors of the economy of Iran that are 

23 directly or indirectly facilitating, supporting, or in24 volved with the development of or transfer to Iran 

25 of ballistic missiles or technology, parts, components, 


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1 or technology information relating to ballistic mis2 siles. 

3 ‘‘(2) CERTAIN SECTORS.— 

4 ‘‘(A) IN GENERAL.—Not later than 120 

5 days after the date of enactment of the Iran 

6 Ballistic Missile Sanctions Act of 2018, the 

7 President shall submit to the appropriate com8 mittees of Congress a determination as to 

9 whether each of the automotive, chemical, com10 puter science, construction, electronic, energy, 

11 metallurgy, mining, petrochemical, research (in12 cluding universities and research institutions), 

13 and telecommunications sectors of Iran meet 

14 the criteria specified in paragraph (1). 

15 ‘‘(B) INCLUSION IN INITIAL LIST.—If the 

16 President determines under subparagraph (A) 

17 that the sectors of the economy of Iran speci18 fied in such subparagraph meet the criteria 

19 specified in paragraph (1), that sector shall be 

20 included in the initial list submitted and pub21 lished under that paragraph. 

22 ‘‘(b) SANCTIONS WITH RESPECT TO SPECIFIED SEC23 TORS OF IRAN.— 

24 ‘‘(1) BLOCKING OF PROPERTY.— 


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1 ‘‘(A) IN GENERAL.—The President shall, 

2 in accordance with the International Emergency 

3 Economic Powers Act (50 U.S.C. 1701 et seq.), 

4 block and prohibit all transactions in all prop5 erty and interests in property of any person de6 scribed in paragraph (4) if such property and 

7 interests in property are in the United States, 

8 come within the United States, or are or come 

9 within the possession or control of a United 

10 States person. 

11 ‘‘(B) INAPPLICABILITY OF NATIONAL

12 EMERGENCY REQUIREMENT.—The requirements 

13 under section 202 of the International Emer14 gency Economic Powers Act (50 U.S.C. 1701) 

15 shall not apply for purposes of this paragraph. 

16 ‘‘(2) EXCLUSION FROM UNITED STATES.— 

17 ‘‘(A) IN GENERAL.—Except as provided in 

18 subparagraph (B), the Secretary of State shall 

19 deny a visa to, and the Secretary of Homeland 

20 Security shall exclude from the United States, 

21 any alien that is a person described in para22 graph (4). 

23 ‘‘(B) COMPLIANCE WITH UNITED NATIONS

24 HEADQUARTERS AGREEMENT.—Subparagraph 

25 (A) shall not apply to the head of state of Iran, 


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1 or necessary staff of that head of state, if ad2 mission to the United States is necessary to 

3 permit the United States to comply with the 

4 Agreement regarding the Headquarters of the 

5 United Nations, signed at Lake Success June 

6 26, 1947, and entered into force November 21, 

7 1947, between the United Nations and the 

8 United States. 

9 ‘‘(3) FACILITATION OF CERTAIN TRANS10 ACTIONS.—Except as provided in this section, the 

11 President shall prohibit the opening, and prohibit or 

12 impose strict conditions on the maintaining, in the 

13 United States of a correspondent account or a pay14 able-through account by a foreign financial institu15 tion that the President determines knowingly, on or 

16 after the date that is 180 days after the date of the 

17 enactment of the Iran Ballistic Missile Sanctions Act 

18 of 2018, conducts or facilitates a significant finan19 cial transaction for a person described in paragraph 

20 (4). 

21 ‘‘(4) PERSONS DESCRIBED.—A person is de22 scribed in this paragraph if the President determines 

23 that the person, on or after the date that is 180 

24 days after the date of the enactment of the Iran 

25 Ballistic Missile Sanctions Act of 2018— 


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1 ‘‘(A) operates in a sector of the economy 

2 of Iran included in the most recent list pub3 lished by the President under subsection (a); 

4 ‘‘(B) knowingly provides significant finan5 cial, material, technological, or other support to, 

6 or goods or services in support of, any activity 

7 or transaction on behalf of or for the benefit of 

8 a person described in subparagraph (A); or 

9 ‘‘(C) is owned or controlled by a person de10 scribed in subparagraph (A). 

11 ‘‘(c) HUMANITARIAN EXCEPTION.—The President 

12 may not impose sanctions under this section with respect 

13 to any person for conducting or facilitating a transaction 

14 for the sale of agricultural commodities, food, medicine, 

15 or medical devices to Iran or for the provision of humani16 tarian assistance to the people of Iran. 

17 ‘‘SEC. 236. IDENTIFICATION OF FOREIGN PERSONS THAT 

18 SUPPORT THE BALLISTIC MISSILE PROGRAM 

19 OF IRAN IN CERTAIN SECTORS OF IRAN. 

20 ‘‘(a) IN GENERAL.—Not later than 120 days after 

21 the date of the enactment of the Iran Ballistic Missile 

22 Sanctions Act of 2018, and not less frequently than annu23 ally thereafter, the President shall submit to the appro24 priate committees of Congress and publish in the Federal 

25 Register a list of all foreign persons that have, based on 


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1 credible information, directly or indirectly facilitated, sup2 ported, or been involved with the development of ballistic 

3 missiles or technology, parts, components, or technology 

4 information related to ballistic missiles in the following 

5 sectors of the economy of Iran during the period specified 

6 in subsection (b): 

7 ‘‘(1) Automotive. 

8 ‘‘(2) Chemical. 

9 ‘‘(3) Computer Science. 

10 ‘‘(4) Construction. 

11 ‘‘(5) Electronic. 

12 ‘‘(6) Energy. 

13 ‘‘(7) Metallurgy. 

14 ‘‘(8) Mining. 

15 ‘‘(9) Petrochemical. 

16 ‘‘(10) Research (including universities and re17 search institutions). 

18 ‘‘(11) Telecommunications. 

19 ‘‘(12) Any other sector of the economy of Iran 

20 identified under section 235(a). 

21 ‘‘(b) PERIOD SPECIFIED.—The period specified in 

22 this subsection is— 

23 ‘‘(1) with respect to the first list submitted 

24 under subsection (a), the period beginning on the 

25 date of the enactment of the Iran Ballistic Missile 


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1 Sanctions Act of 2018 and ending on the date that 

2 is 120 days after such date of enactment; and 

3 ‘‘(2) with respect to each subsequent list sub4 mitted under such subsection, the one-year period 

5 preceding the submission of the list. 

6 ‘‘(c) COMPTROLLER GENERAL REPORT.— 

7 ‘‘(1) IN GENERAL.—With respect to each list 

8 submitted under subsection (a), not later than 120 

9 days after the list is submitted under that sub10 section, the Comptroller General of the United 

11 States shall submit to the appropriate committees of 

12 Congress— 

13 ‘‘(A) an assessment of the processes fol14 lowed by the President in preparing the list; 

15 ‘‘(B) an assessment of the foreign persons 

16 included in the list; and 

17 ‘‘(C) a list of persons not included in the 

18 list that qualify for inclusion in the list, as de19 termined by the Comptroller General. 

20 ‘‘(2) CONSULTATIONS.—In preparing the report 

21 required by paragraph (1), the Comptroller General 

22 shall consult with nongovernmental organizations. 

23 ‘‘(d) CREDIBLE INFORMATION DEFINED.—In this 

24 section, the term ‘credible information’ has the meaning 


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1 given that term in section 14 of the Iran Sanctions Act 

2 of 1996 (Public Law 104–172; 50 U.S.C. 1701 note).’’. 

3 (b) CLERICAL AMENDMENT.—The table of contents 

4 for the Iran Threat Reduction and Syria Human Rights 

5 Act of 2012 is amended by inserting after the item relat6 ing to section 224 the following: 

‘‘Subtitle C—Measures Relating to Ballistic Missile Program of Iran 

‘‘Sec. 231. Definitions. 

‘‘Sec. 232. Imposition of sanctions with respect to persons that support the ballistic missile program of Iran. 

‘‘Sec. 233. Blocking of property of persons affiliated with certain Iranian entities. 

‘‘Sec. 234. Imposition of sanctions with respect to certain persons involved in 

ballistic missile activities. 

‘‘Sec. 235. Imposition of sanctions with respect to certain sectors of Iran that 

support the ballistic missile program of Iran. 

‘‘Sec. 236. Identification of foreign persons that support the ballistic missile 

program of Iran in certain sectors of Iran.’’. 

7 SEC. 306. EXPANSION OF MANDATORY SANCTIONS WITH 

8 RESPECT TO FINANCIAL INSTITUTIONS THAT 

9 ENGAGE IN CERTAIN TRANSACTIONS RELAT10 ING TO BALLISTIC MISSILE CAPABILITIES OF 

11 IRAN. 

12 Section 104 of the Comprehensive Iran Sanctions, 

13 Accountability, and Divestment Act of 2010 (22 U.S.C. 

14 8513) is amended— 

15 (1) in subsection (c)(2)— 

16 (A) in subparagraph (A)— 

17 (i) in clause (i), by striking ‘‘; or’’ and 

18 inserting a semicolon; 


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1 (ii) by redesignating clause (ii) as 

2 clause (iii); and 

3 (iii) by inserting after clause (i) the 

4 following: 

5 ‘‘(ii) to acquire or develop ballistic 

6 missiles and capabilities and launch tech7 nology relating to ballistic missiles; or’’; 

8 and 

9 (B) in subparagraph (E)(ii)— 

10 (i) in subclause (I), by striking ‘‘; or’’ 

11 and inserting a semicolon; 

12 (ii) by redesignating subclause (II) as 

13 subclause (III); and 

14 (iii) by inserting after subclause (I) 

15 the following: 

16 ‘‘(II) Iran’s development of bal17 listic missiles and capabilities and 

18 launch technology relating to ballistic 

19 missiles; or’’; and 

20 (2) in subsection (f)— 

21 (A) by redesignating paragraphs (1) and 

22 (2) as subparagraphs (A) and (B), respectively, 

23 and moving those subparagraphs, as so redesig24 nated, two ems to the right; 


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1 (B) by striking ‘‘WAIVER.—The’’ and in2 serting ‘‘WAIVER.— 

3 ‘‘(1) IN GENERAL.—Except as provided in para4 graph (2), the’’; and 

5 (C) by adding at the end the following: 

6 ‘‘(2) EXCEPTION.—The Secretary of the Treas7 ury may not waive under paragraph (1) the applica8 tion of a prohibition or condition imposed with re9 spect to an activity described in subparagraph 

10 (A)(ii) or (E)(ii)(II) of subsection (c)(2).’’. 

11 SEC. 307. REGULATIONS. 

12 Not later than 90 days after the date of the enact13 ment of this Act, the President shall prescribe regulations 

14 to carry out this title and the amendments made by this 

15 title. 

Æ 


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