To suspend until January 21, 2017, the authority of the President to waive, suspend, reduce, provide relief from, or otherwise limit the application of sanctions pursuant to an agreement related to the nuclear program of Iran.

This bill prohibits the President, prior to January 21, 2017, from: limiting the application of specified sanctions on Iran or refraining from applying any such sanctions; or removing a foreign person (including entities) listed in Attachments 3 or 4 to Annex II of the Joint Comprehensive Plan of Action (JCPA) from the list of designated nationals and blocked persons maintained by the Office of Foreign Assets Control of the Department of the Treasury. The sanctions are those contained in: sections 4 through 7.9 of Annex II of the JCPA; and any other agreement related to Iran's nuclear program that includes the United States, commits the United States to take action, or pursuant to which the United States commits or otherwise agrees to take action, regardless of the form it takes, whether a political commitment or otherwise, and regardless of whether the agreement is legally binding or not. The Joint Comprehensive Plan of Action is the agreement signed at Vienna on July 14, 2015, by Iran and by China, France, Germany, the Russian Federation, the United Kingdom, and the United States, with the High Representative of the European Union for Foreign Affairs and Security Policy, and all implementing materials and agreements related to the JCPA.