§8564 Report and imposition of sanctions with respect to foreign financial institutions conducting significant transactions with persons responsible for or complicit in abuses toward dissidents on behalf of the Government of Iran

Summary

Within 30 days to 60 days after the Secretary of State sends the required report to Congress, the Secretary of the Treasury, after talking with the Secretary of State, must send Congress a report naming any foreign bank that knowingly does a significant transaction with a foreign person listed in that State report on or after the date that person was listed. The Treasury Secretary may then block that foreign bank from opening certain U.S. accounts or stop or place strict conditions on its U.S. correspondent or payable-through accounts (accounts used to move money across borders).