22 USC 8924 - Sanctions on Russian and other foreign financial institutions

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

§ 8924.

Sanctions on Russian and other foreign financial institutions

(a)

Facilitation of certain defense- and energy-related transactions

(b)

Facilitation of financial transactions on behalf of specially designated nationals

(1)

this chapter;

(2)

Executive Order No. 13660 (79 Fed. Reg. 13,493), 13661 (79 Fed. Reg. 15,535), or 13662 (79 Fed. Reg. 16,169); or

(3)

any other Executive order addressing the crisis in Ukraine.

(c)

Sanction described

(d)

National security waiver

The President may waive the application of sanctions under this section with respect to a foreign financial institution if the President—

(1)

determines that the waiver is in the national security interest of the United States; and

(2)

submits to the appropriate congressional committees a report on the determination and the reasons for the determination.

(e)

Notification to Congress on imposition of sanctions

(f)

Implementation; penalties

(1)

Implementation

(2)

Penalties

(g)

Termination

(Pub. L. 113–272, § 5, Dec. 18, 2014, 128 Stat. 2958; Pub. L. 115–44, title II, §§ 226, 229(b), Aug. 2, 2017, 131 Stat. 910, 915.)

cite as: 22 USC 8924