Bureau of Industry and Security of the Department 
of Commerce and set forth in Supplement No. 4 to 
part 744 of title 15, Code of Federal Regulations, 
for activities contrary to the national security or for-
eign policy interests of the United States. 
(3) BANKING
TRANSACTIONS.—The President 
shall, pursuant to such regulations as the President 
may prescribe, prohibit any transfers of credit or 
payments between financial institutions or by, 
through or to any financial institution, to the extent 
that such transfers or payments are subject to the 
jurisdiction of the United States and involve any in-
terest of a foreign person described in subsection 
(a)(1). 
(c) INELIGIBILITY FOR VISAS, ADMISSION, OR PA-
ROLE.— 
(1) VISAS, ADMISSION, OR PAROLE.—An alien 
described in subsection (a)(2) shall be— 
(A) inadmissible to the United States; 
(B) ineligible to receive a visa or other doc-
umentation to enter the United States; and 
(C) otherwise ineligible to be admitted or 
paroled into the United States or to receive any 
other benefit under the Immigration and Na-
tionality Act (8 U.S.C. 1101 et seq.). 
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(2) CURRENT VISAS REVOKED.— 
(A) IN GENERAL.—The visa or other entry 
documentation of an alien described in sub-
section (a)(2) shall be revoked, regardless of 
when such visa or other entry documentation is 
or was issued. 
(B) IMMEDIATE
EFFECT.—A revocation 
under subparagraph (A) shall— 
(i) take effect immediately; and 
(ii) automatically cancel any other 
valid visa or entry documentation that is in 
the alien’s possession. 
(d) EXCEPTION
FOR COMPLIANCE WITH INTER-
NATIONAL OBLIGATIONS AND LAW ENFORCEMENT AC-
TIVITIES.—Sanctions under subsection (c) shall not apply 
with respect to an alien if— 
(1) admitting or paroling the alien into the 
United States is necessary— 
(A) to permit the United States to comply 
with the Agreement regarding the Head-
quarters of the United Nations, signed at Lake 
Success on June 26, 1947, and entered into 
force November 21, 1947, between the United 
Nations and the United States, or other appli-
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cable international obligations of the United 
States; or 
(B) to carry out or assist law enforcement 
activity in the United States; or 
(2) the alien holds a valid, unexpired A–1, A– 
2, C–2, G–1, or G–2 visa. 
SEC. 8. IMPOSITION OF SANCTIONS WITH RESPECT TO FI-
NANCIAL INSTITUTIONS AFFILIATED WITH 
THE CHINESE COMMUNIST PARTY. 
(a) IN GENERAL.—Not later than 3 days after a cov-
ered determination is made, the Secretary of the Treasury 
shall impose the sanctions described in subsection (c) with 
respect to a foreign financial institution described in sub-
section (b). 
(b) 
FOREIGN
FINANCIAL
INSTITUTIONS
DE-
SCRIBED.—A foreign financial institution is described in 
this subsection if the Chinese Communist Party has a ma-
jority ownership interest in the financial institution or the 
financial institution is otherwise affiliated with the Chi-
nese Communist Party, including the following financial 
institutions and their subsidiaries and successor entities: 
(1) The People’s Bank of China. 
(2) The Industrial and Commercial Bank of 
China. 
(3) The China Construction Bank. 
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(4) The Bank of China. 
(5) The Bank of Communications. 
(6) The Agricultural Bank of China. 
(7) The China CITIC Bank. 
(c) SANCTIONS
DESCRIBED.—The sanctions de-
scribed in this subsection are the following: 
(1) BLOCKING OF PROPERTY.— 
(A) IN GENERAL.—The President shall ex-
ercise all of the powers granted to the President 
under the International Emergency Economic 
Powers Act (50 U.S.C. 1701 et seq.) to the ex-
tent necessary to block and prohibit all trans-
actions in property and interests in property of 
a foreign financial institution subject to sub-
section (a) 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. 
(B) INAPPLICABILITY OF NATIONAL EMER-
GENCY
REQUIREMENT.—The requirements of 
section 202 of the International Emergency 
Economic Powers Act (50 U.S.C. 1701) shall 
not apply for purposes of this section. 
(2) RESTRICTIONS
ON
CORRESPONDENT
AND 
PAYABLE-THROUGH
ACCOUNTS.—The 
President 
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shall prohibit the opening, and prohibit or impose 
strict conditions on the maintaining, in the United 
States of a correspondent account or payable- 
through account by a foreign financial institution 
subject to subsection (a). 
SEC. 9. IMPOSITION OF SANCTIONS WITH RESPECT TO EN-
TITIES OWNED BY OR AFFILIATED WITH THE 
CHINESE COMMUNIST PARTY. 
(a) IN GENERAL.—Not later than 3 days after a cov-
ered determination is made, the Secretary of the Treasury 
shall impose the sanctions described in subsection (b) with 
respect to any entity that— 
(1) the Chinese Communist Party has an own-
ership interest in; or 
(2) is otherwise affiliated with the Chinese 
Communist Party. 
(b) BLOCKING OF PROPERTY.— 
(1) IN GENERAL.—The President shall exercise 
all of the powers granted to the President under the 
International Emergency Economic Powers Act (50 
U.S.C. 1701 et seq.) to the extent necessary to block 
and prohibit all transactions in property and inter-
ests in property of an entity in an industry subject 
to subsection (a) if such property and interests in 
property are in the United States, come within the 
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