22 U.S.C. § 8805 | Imposition of sanctions with respect to the provision of underwriting services or insurance or reinsurance for activities or persons with respect to which sanctions have been imposed

(a)

Imposition of sanctions

(1)

In general

Public Law 104–172 50 U.S.C. 1701January 2, 2013Except as provided in this section, the President shall impose 5 or more of the sanctions described in section 6(a) of the Iran Sanctions Act of 1996 (; note) with respect to a person if the President determines that the person knowingly, on or after the date that is 180 days after , provides underwriting services or insurance or reinsurance—

(A)

50 U.S.C. 1701 22 U.S.C. 8501 22 U.S.C. 8701 Public Law 106–178 50 U.S.C. 1701 for any activity with respect to Iran for which sanctions have been imposed under this chapter, the International Emergency Economic Powers Act ( et seq.), the Iran Sanctions Act of 1996, the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 ( et seq.), the Iran Threat Reduction and Syria Human Rights Act of 2012 ( et seq.), the Iran, North Korea, and Syria Nonproliferation Act (; note), or any other provision of law relating to the imposition of sanctions with respect to Iran;

(B)

to or for any person—

(i)

with respect to, or for the benefit of any activity in the energy, shipping, or shipbuilding sectors of Iran for which sanctions are imposed under this chapter;

(ii)

section 8804(d) of this title for the sale, supply, or transfer to or from Iran of materials described in for which sanctions are imposed under this chapter; or

(iii)

50 U.S.C. 1701 designated for the imposition of sanctions pursuant to the International Emergency Economic Powers Act ( et seq.) in connection with—

(I)

Iran’s proliferation of weapons of mass destruction or delivery systems for weapons of mass destruction; or

(II)

Iran’s support for international terrorism; or

(C)

to or for any Iranian person included on the list of specially designated nationals and blocked persons maintained by the Office of Foreign Assets Control of the Department of the Treasury (other than an Iranian financial institution described in subsection (b)).

(2)

Exception

The requirement to impose sanctions under paragraph (1) shall not include the authority to impose sanctions relating to the importation of goods under paragraph (8)(A) or (12) of section 6(a) of the Iran Sanctions Act of 1996, and any sanction relating to the importation of goods shall not count for purposes of the requirement to impose sanctions under paragraph (1).

(b)

Iranian financial institutions described

An Iranian financial institution described in this subsection is an Iranian financial institution that has not been designated for the imposition of sanctions in connection with—

(1)

Iran’s proliferation of weapons of mass destruction or delivery systems for weapons of mass destruction;

(2)

Iran’s support for international terrorism; or

(3)

Iran’s abuses of human rights.

(c)

Humanitarian exception

The President may not impose sanctions under subsection (a) for the provision of underwriting services or insurance or reinsurance for a transaction for the sale of agricultural commodities, food, medicine, or medical devices to Iran or for the provision of humanitarian assistance to the people of Iran.

(d)

Exception for underwriters and insurance providers exercising due diligence

The President may not impose sanctions under subparagraph (A) or (C) or clause (i) or (ii) of subparagraph (B) of subsection (a)(1) with respect to a person that provides underwriting services or insurance or reinsurance if the President determines that the person has exercised due diligence in establishing and enforcing official policies, procedures, and controls to ensure that the person does not underwrite or enter into a contract to provide insurance or reinsurance for an activity described in subparagraph (A) of that subsection or to or for any person described in subparagraph (C) or clause (i) or (ii) of subparagraph (B) of that subsection.

(e)

Waiver

(1)

In general

The President may waive the imposition of sanctions under subsection (a) for a period of not more than 180 days, and may renew that waiver for additional periods of not more than 180 days, if the President—

(A)

determines that such a waiver is vital to the national security of the United States; and

(B)

submits to the appropriate congressional committees a report providing a justification for the waiver.

(2)

Form of report

Each report submitted under paragraph (1)(B) shall be submitted in unclassified form, but may include a classified annex.

Pub. L. 112–239, div. A, title XII, § 1246Jan. 2, 2013126 Stat. 2011(, , .)

Editorial Notes

References in Text

Pub. L. 112–239Jan. 2, 2013126 Stat. 2004 section 8801 of this titleThis chapter, referred to in subsec. (a)(1)(A), (B)(i), (ii), was in the original “this subtitle”, meaning subtitle D (§§ 1241–1255) of title XII of div. A of , , , known as the Iran Freedom and Counter-Proliferation Act of 2012, which is classified principally to this chapter. For complete classification of subtitle D to the Code, see Short Title note set out under and Tables.

Pub. L. 95–223Dec. 28, 197791 Stat. 1626 section 1701 of Title 50The International Emergency Economic Powers Act, referred to in subsec. (a)(1)(A), (B)(iii), is title II of , , , 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 and Tables.

Pub. L. 111–195July 1, 2010124 Stat. 1312 section 8501 of this titleThe Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010, referred to in subsec. (a)(1)(A), is , , , which is classified principally to chapter 92 (§ 8501 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under and Tables.

Pub. L. 112–158Aug. 10, 2012126 Stat. 1214 section 8701 of this titleThe Iran Threat Reduction and Syria Human Rights Act of 2012, referred to in subsec. (a)(1)(A), is , , , which is classified principally to chapter 94 (§ 8701 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under and Tables.

Executive Documents

Delegation of Functions

June 3, 2013section 8801 of this titleFor delegation of certain functions and authorities vested in the President by this section, see Memorandum of President of the United States, , 78 F.R. 35545, set out as a note under .