§8723 — Title 22 Foreign Relations and Intercourse | U.S. Code

Summary

The President must use at least five of the penalties listed in section 6(a) of the Iran Sanctions Act of 1996, as amended by section 204, against any person who knowingly, on or after August 10, 2012, buys, signs up for, or helps issue either: sovereign debt of the Government of Iran issued on or after August 10, 2012 (including government bonds), or debt issued on or after that date by an entity owned or controlled by the Government of Iran (including bonds). Several other parts of the Iran Sanctions Act apply to these penalties the same way they apply under section 5(a). Those include section 4(c); sections 5(c), 5(d), and 5(f); and sections 8, 9, 11, 12, 13(b), and 14.

Title 22, §8723

Foreign Relations and Intercourse — Source: USLM XML via OLRC

(a)The President shall impose 5 or more of the sanctions described in section 6(a) of the Iran Sanctions Act of 1996, as amended by section 204, with respect to a person if the President determines that the person knowingly, on or after August 10, 2012, purchases, subscribes to, or facilitates the issuance of—

(1)sovereign debt of the Government of Iran issued on or after August 10, 2012, including governmental bonds; or

(2)debt of any entity owned or controlled by the Government of Iran issued on or after August 10, 2012, including bonds.

(b)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.

Notes & Related Subsidiaries

Termination of SectionFor termination of section, see section 8785(a) of this title.

Editorial Notes

References in Text

The Iran Sanctions Act of 1996, referred to in text, is Pub. L. 104–172, Aug. 5, 1996, 110 Stat. 1541, which is set out as a note under section 1701 of Title 50, War and National Defense. section 6(a) of the Act, as amended by section 204, is section 6(a) of Pub. L. 104–172, as amended by section 204 of Pub. L. 112–158. This Act, referred to in subsec. (b), is Pub. L. 112–158, Aug. 10, 2012, 126 Stat. 1214, known as the Iran Threat Reduction and Syria Human Rights Act of 2012, which is classified principally to this chapter. For complete classification of this Act to the Code, see

Short Title

note set out under section 8701 of this title and Tables.

Executive Documents

Delegation of Certain Functions and Authorities Under section 213(b)(1) of the Iran Threat Reduction and Syria Human Rights Act of 2012 Memorandum of President of the United States, Oct. 18, 2015, 80 F.R. 66781, provided: Memorandum for the Secretary of State[,] the Secretary of the Treasury[,] the Secretary of Commerce[,] the United States Trade Representative[,] the Secretary of Homeland Security[, and] the Chairman of the Board of Governors of the Federal Reserve System By the authority vested in me as President by the Constitution and the laws of the United States of America, including section 301 of title 3, United States Code, I hereby order as follows: I hereby delegate the functions and authorities vested in the President by section 213(b)(1) of the Iran Threat Reduction and Syria Human Rights Act of 2012 (TRA) to the Secretary of State, in consultation with: the Secretaries of the Treasury and Commerce and the United States Trade Representative; and with the Secretary of Homeland Security, the Chairman of the Board of Governors of the Federal Reserve System, and other agencies as appropriate. The delegation of authorities under section 213(b)(1) of the TRA to the Secretary of the Treasury contained in the Presidential Memorandum of October 9, 2012, entitled “Delegation of Certain Functions and Authorities Under the Iran Threat Reduction and Syria Human Rights Act of 2012” is hereby rescinded. The other provisions of that Presidential Memorandum remain in effect. Any reference herein to provisions of any Act related to the subject of this memorandum shall be deemed to include references to any hereafter-enacted provisions of law that are the same or substantially the same as such provisions. The Secretary of State is authorized and directed to publish this memorandum in the Federal Register. Barack Obama.

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