PRIA, Government Policy, Made Personal

Summary

The President must, starting 30 days after September 18, 2025 and then every 180 days, review certain people and companies and impose sanctions under the International Emergency Economic Powers Act on anyone found to meet the rules below. It covers two kinds of targets: companies that mainly run global financial messaging services and that the Secretary of the Treasury (with the Secretary of State) finds are being knowingly used to get around U.S. sanctions, and the leaders, top executives, board members, or controlling/majority owners of those companies. The President can choose not to sanction a messaging company if either the company is already subject to and has followed a foreign sanctions regime that stops it from knowingly serving sanctioned banks (and the President finds that foreign regime does not conflict with U.S. interests), or the company provides major messaging services to U.S. banks as decided by the Secretary of the Treasury with the Secretary of State. Nothing here limits the President’s authority under the International Emergency Economic Powers Act.

Title 22, §10810

Foreign Relations and Intercourse, Source: USLM XML via OLRC

(a)In general

Not later than 30 days after September 18, 2025, and every 180 days thereafter, the President shall—

(1)review any person that may be described in subsection (b); and

(2)impose sanctions pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) with respect to any person the President determines is described in that subsection.

(b)Persons described

A person described in this subsection is—

(1)any entity that—

(A)operates with the intent to predominantly engage in the business of providing global financial messaging services; and

(B)is determined by the Secretary of the Treasury, in consultation with the Secretary of State, as knowingly being used to circumvent any sanctions imposed under section 10803 of this title or any other provision of this chapter; or

(2)a leader, official, senior executive officer, or member of the board of directors of, or principal shareholder with a controlling or majority interest in, any entity described in paragraph (1).

(c)Exception

The President may waive the imposition of sanctions under subsection (a) with respect to an entity predominantly engaged in the business of providing global financial messaging services for, directly providing such services to, or enabling or facilitating direct or indirect access to such services for, any financial institution subject to sanctions under section 10803 of this title or any other provision of this chapter if—

(1)the entity—

(A)is subject to a sanctions regime under its governing foreign law that requires it to eliminate the knowing provision of such services to, and the knowing enabling and facilitation of direct or indirect access to such services for, foreign financial institutions identified under such governing foreign law for purposes of that sanctions regime if the President determines that the sanctions regime under governing foreign law is not inconsistent with the economic or foreign policy interests of the United States; and

(B)has, pursuant to that sanctions regime, terminated the knowing provision of such services to, and the knowing enabling and facilitation of direct or indirect access to such services for, foreign financial institutions identified under such governing foreign law for purposes of that sanctions regime; or

(2)the entity provides significant financial messaging services to United States financial institutions, as determined by the Secretary of the Treasury, in consultation with the Secretary of State.

(d)Rule of construction

Nothing in this section shall be construed to limit the authority of the President pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.).

Notes & Related Subsidiaries

Editorial Notes

References in Text

The International Emergency Economic Powers Act, referred to in subsecs. (a)(2) and (d), is title II of Pub. L. 95–223, Dec. 28, 1977, 91 Stat. 1626, which is classified generally to chapter 35 (§ 1701 et seq.) of Title 50, War and National Defense. For complete classification of this Act to the Code, see

Short Title

note set out under section 1701 of Title 50 and Tables.

§10810 Prohibition on Provision of Services to Sanctioned Financial Institutions by International Financial Messaging Systems