22 USC 8722 - Imposition of sanctions with respect to provision of underwriting services or insurance or reinsurance for the National Iranian Oil Company or the National Iranian Tanker Company

U.S Code last checked for updates: Nov 22, 2024

§ 8722.

Imposition of sanctions with respect to provision of underwriting services or insurance or reinsurance for the National Iranian Oil Company or the National Iranian Tanker Company

(a)

In general

(b)

Exceptions

(1)

Underwriters and insurance providers exercising due diligence

(2)

Food; medicine; humanitarian assistance

The President may not impose sanctions under subsection (a) for the provision of underwriting services or insurance or reinsurance for any activity relating solely to—

(A)

the provision of agricultural commodities, food, medicine, or medical devices to Iran; or

(B)

the provision of humanitarian assistance to the people of Iran.

(3)

Termination period

(c)

Definitions

In this section:

(1)

Agricultural commodity

(2)

Medical device

(3)

Medicine

(d)

Application of provisions of Iran Sanctions Act of 1996

The following provisions of the Iran Sanctions Act of 1996, as amended by this Act, apply with respect to the imposition of sanctions under subsection (a) to the same extent that such provisions apply with respect to the imposition of sanctions under section 5(a) of the Iran Sanctions Act of 1996:

(1)

Subsection (c) of section 4.

(2)

Subsections (c), (d), and (f) of section 5.

(3)

Section 8.

(4)

Section 9.

(5)

Section 11.

(6)

Section 12.

(7)

Subsection (b) of section 13.

(8)

Section 14.

(e)

Rule of construction and implementation

(Pub. L. 112–158, title II, § 212,

cite as: 22 USC 8722