§8724 Continuation in effect of sanctions with respect to the Government of Iran, the Central Bank of Iran, and sanctions evaders

Summary

Keeps U.S. sanctions tied to two old executive orders that were in effect on August 9, 2012. Sanctions from Executive Order 13599 stay in place until 90 days after the President sends Congress the special certification about the Central Bank of Iran. Sanctions from Executive Order 13608 stay in place until 30 days after the President sends the certification required by section 401(a) of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (22 U.S.C. 8551(a)). The President must also keep applying Central Bank of Iran sanctions under the International Emergency Economic Powers Act until 90 days after sending the Central Bank certification. The certification the President must send says the Central Bank is not helping Iran get or build chemical, biological, or nuclear weapons or related technology; is not helping build or run nuclear sites that could lead to a nuclear capability; and is not helping Iran get ballistic or cruise missiles or other destabilizing weapons. It also must say the bank is not doing transactions for the Islamic Revolutionary Guard Corps or for banks already blocked for proliferation or terrorism. The President must send the certification in writing to the appropriate congressional committees, explain why, and send it in unclassified form (with a classified annex if needed). Nothing here limits the President’s powers under the International Emergency Economic Powers Act or the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010.