22 USC 8724 - Continuation in effect of sanctions with respect to the Government of Iran, the Central Bank of Iran, and sanctions evaders

United States Code

USC most recently checked for updates: Sep 17, 2024

§ 8723. Imposition of sanctions with respect to purchase, subscription to, or facilitation of the issuance of Iranian sovereign debt

§ 8725. Liability of parent companies for violations of sanctions by foreign subsidiaries

U.S. Code
Notes

§ 8724.

Continuation in effect of sanctions with respect to the Government of Iran, the Central Bank of Iran, and sanctions evaders

(a)

Sanctions relating to blocking of property of the Government of Iran and Iranian financial institutions

United States sanctions with respect to Iran provided for in Executive Order No. 13599 (77 Fed. Reg. 6659), as in effect on the day before August 10, 2012, shall remain in effect until the date that is 90 days after the date on which the President submits to the appropriate congressional committees the certification described in subsection (d).

(b)

Sanctions relating to foreign sanctions evaders

United States sanctions with respect to Iran provided for in Executive Order No. 13608 (77 Fed. Reg. 26409), as in effect on the day before August 10, 2012, shall remain in effect until the date that is 30 days after the date on which the President submits to the appropriate congressional committees the certification described in section 401(a) of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (22 U.S.C. 8551(a)).

(c)

Continuation of sanctions with respect to the Central Bank of Iran

In addition to the sanctions referred to in subsection (a), the President shall continue to apply to the Central Bank of Iran sanctions pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.), including blocking of property and restrictions or prohibitions on financial transactions and the exportation of property, until the date that is 90 days after the date on which the President submits to Congress the certification described in subsection (d).

(d)

Certification described

(1)

In general

The certification described in this subsection is the certification of the President to Congress that the Central Bank of Iran is not—

(A)

providing financial services in support of, or otherwise facilitating, the ability of Iran to—

(i)

acquire or develop chemical, biological, or nuclear weapons, or related technologies;

(ii)

construct, equip, operate, or maintain nuclear facilities that could aid Iran’s effort to acquire a nuclear capability; or

(iii)

acquire or develop ballistic missiles, cruise missiles, or destabilizing types and amounts of conventional weapons; or

(B)

facilitating transactions or providing financial services for—

(i)

Iran’s Revolutionary Guard Corps; or

(ii)

financial institutions the property or interests in property of which are blocked pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) in connection with—

(I)

Iran’s proliferation of weapons of mass destruction or delivery systems for weapons of mass destruction; or

(II)

Iran’s support for international terrorism.

(2)

Submission to Congress

(A)

In general

The President shall submit the certification described in paragraph (1) to the appropriate congressional committees in writing and shall include a justification for the certification.

(B)

Form of certification

The certification described in paragraph (1) shall be submitted in unclassified form but may contain a classified annex.

(e)

Rule of construction

Nothing in this section shall be construed to limit the authority of the President pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) or the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (22 U.S.C. 8501 et seq.).

(Pub. L. 112–158, title II, § 217, Aug. 10, 2012, 126 Stat. 1233.)

cite as: 22 USC 8724