Termination of Section

For termination of section, see section 8551(a) of this title.

Editorial Notes

References in Text

The International Emergency Economic Powers Act, referred to in subsecs. (c)(2)(E) and (d)(1), is title II of Pub. L. 95–223, Dec. 28, 1977, 91 Stat. 1626, which is classified generally to chapter 35 (§ 1701 et seq.) of Title 50, War and National Defense. For complete classification of this Act to the Code, see Short Title note set out under section 1701 of Title 50 and Tables.

The Classified Information Procedures Act, referred to in subsec. (g)(1), is Pub. L. 96–456, Oct. 15, 1980, 94 Stat. 2025, which is set out in the Appendix to Title 18, Crimes and Criminal Procedure.

Amendments

2021—Subsec. (i)(1)(C). Pub. L. 116–283 substituted “(Z)” for “(Y)”.

2012—Subsec. (c)(2)(B). Pub. L. 112–158, § 214(a), substituted “of—” for “of”, inserted cl. (i) designation before “a person subject”, and added cl. (ii).

Subsec. (c)(2)(E)(ii). Pub. L. 112–158, § 215(a), substituted “person” for “financial institution” in introductory provisions.

Subsec. (c)(4). Pub. L. 112–158, § 312(b), added par. (4).

Subsec. (f). Pub. L. 112–158, § 312(c)(1), inserted “or section 8513b of this title” after “subsection (c)” in introductory provisions.

Subsec. (g). Pub. L. 112–158, § 312(c)(2), substituted “paragraph (1) or (4) of subsection (c) or section 8513b of this title” for “subsection (c)(1)” in pars. (1) and (2).

Statutory Notes and Related Subsidiaries

Regulations

Pub. L. 112–158, title II, § 214(b), Aug. 10, 2012, 126 Stat. 1231, provided that: “Not later than 90 days after the date of the enactment of this Act [Aug. 10, 2012], the Secretary of the Treasury shall make such revisions to the regulations prescribed under section 104 of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (22 U.S.C. 8513) as are necessary to carry out the amendments made by subsection (a) [amending this section].”

Pub. L. 112–158, title II, § 215(b), Aug. 10, 2012, 126 Stat. 1231, provided that: “Not later than 90 days after the date of the enactment of this Act [Aug. 10, 2012], the Secretary of the Treasury shall make such revisions to the regulations prescribed under section 104 of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (22 U.S.C. 8513) as are necessary to carry out the amendment made by subsection (a) [amending this section].”

Exception to Sanctions Regarding National Iranian Oil Company and National Iranian Tanker Company

Pub. L. 112–158, title III, § 312(d), Aug. 10, 2012, 126 Stat. 1250, provided that:

“(1)

In general.—

If an exception to sanctions described in clause (i) or (ii) of paragraph (4)(C) of section 104(c) of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 [22 U.S.C. 8513(c)], as added by subsection (b), applies to a person that engages in a transaction described in paragraph (2) at the time of the transaction, the President is authorized not to impose sanctions with respect to the transaction under—

“(A)

section 302(b)(1) [22 U.S.C. 8742(b)(1)];

“(B)

section 104A of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 [22 U.S.C. 8513b], as added by section 216; or

“(C)

any other applicable provision of law authorizing the imposition of sanctions with respect to Iran.

“(2)

Transaction described.—

A transaction described in this paragraph is a transaction—

“(A)

solely for the purchase of petroleum or petroleum products from Iran; and

“(B)

for which sanctions may be imposed solely as a result of the involvement of the National Iranian Oil Company or the National Iranian Tanker Company in the transaction under—

“(i)

section 302(b)(1);

“(ii)

section 104A of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010, as added by section 216; or

“(iii)

any other applicable provision of law authorizing the imposition of sanctions with respect to Iran.”