(2) FACILITATION OF CERTAIN TRANSACTIONS.--Except as provided in this section, the President shall prohibit the opening, and
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prohibit or impose strict conditions on the maintaining, in the United States of a correspondent account or a payable-through account by a foreign financial institution that the President determines knowingly, on or after the date that is 90 days after the date of the enactment of this Act, conducts or facilitates a significant financial transaction for the sale, supply, or transfer to or from Iran of goods or services described in paragraph (3).
(3) GOODS AND SERVICES DESCRIBED.--Goods or services described in this paragraph are goods or services used in connection with the energy, shipping, or shipbuilding sectors of Iran, including the National Iranian Oil Company, the National Iranian Tanker Company, and the Islamic Republic of Iran Shipping Lines.
(4) APPLICATION OF CERTAIN PROVISIONS OF IRAN SANCTIONS ACT OF 1996.--The following provisions of the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note) shall apply with respect to the imposition of sanctions under paragraph (1) to the same extent that such provisions apply with respect to the imposition of sanctions under section 5(a) of that Act:
(A) Subsections (c), (d), and (f) of section 5 (except for paragraphs (3) and (4)(C) of such subsection (f)).
(B) Sections 8, 11, and 12.
(e) Humanitarian Exception.--The President may not impose sanctions under this section with respect to any person for conducting or facilitating 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.
(f) Applicability of Sanctions to Petroleum and Petroleum Products.--
(1) IN GENERAL.--Except as provided in paragraph (2), this section shall apply with respect to the purchase of petroleum or petroleum products from Iran only if, at the time of the purchase, a determination of the President under section 1245(d)(4)(B) of the National Defense Authorization Act for Fiscal Year 2012 (22 U.S.C. 8513a(d)(4)(B)) that the price and supply of petroleum and petroleum products produced in countries other than Iran is sufficient to permit purchasers of petroleum and petroleum products from Iran to reduce significantly their purchases from Iran is in effect.
(2) EXCEPTION FOR CERTAIN COUNTRIES.--
(A) EXPORTATION.--This section shall not apply with respect to the exportation of petroleum or petroleum products from Iran to a country to which the exception under section 1245(d)(4)(D)(i) of the National Defense Authorization Act for Fiscal Year 2012 (22 U.S.C. 8513a(d)(4)(D)(i)) applies at the time of the exportation of the petroleum or petroleum products.
(B) FINANCIAL TRANSACTIONS.--
(i) IN GENERAL.--This section shall not apply with respect to a financial transaction described in clause (ii) conducted or facilitated by a foreign financial institution if, at the time of the transaction, the exception under section 1245(d)(4)(D)(i) of the National Defense Authorization Act for Fiscal Year 2012 (22 U.S.C. 8513a(d)(4)(D)(i)) applies to the country with primary jurisdiction over the foreign financial institution.
(ii) FINANCIAL TRANSACTIONS DESCRIBED.--A financial transaction conducted or facilitated by a foreign financial institution is described in this clause if--
(I) the financial transaction is for the purchase of purchase of petroleum or petroleum products from Iran;
(II) the financial transaction is only for trade in goods or services--
(aa) not otherwise subject to sanctions under the law of the United States; and
(bb) between the country with primary jurisdiction over the foreign financial institution and Iran; and
(III) any funds owed to Iran as a result of such trade are credited to an account located in the country with primary jurisdiction over the foreign financial institution.
(g) Applicability of Sanctions to Natural Gas.--
(1) SALE, SUPPLY, OR TRANSFER.--Except as provided in paragraph (2), this section shall not apply to the sale, supply, or transfer to or from Iran of natural gas.
(2) FINANCIAL TRANSACTIONS.--This section shall apply to a foreign financial institution that conducts or facilitates a financial transaction for the sale, supply, or transfer to or from Iran of natural gas unless--
(A) the financial transaction is only for trade in goods or services--
(i) not otherwise subject to sanctions under the law of the United States; and
(ii) between the country with primary jurisdiction over the foreign financial institution and Iran; and
(B) any funds owed to Iran as a result of such trade are credited to an account located in the country with primary jurisdiction over the foreign financial institution.
(h) Waiver.--
(1) IN GENERAL.--The President may waive the imposition of sanctions under this section for a period of not more than 120 days, and may renew that waiver for additional periods of not more than 120 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.
SEC. 1255. IMPOSITION OF SANCTIONS WITH RESPECT TO THE SALE, SUPPLY, OR TRANSFER OF CERTAIN MATERIALS TO OR FROM IRAN.
(a) Sale, Supply, or Transfer of Certain Materials.--The President shall impose 5 or more of the sanctions described in section 6(a) of the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note) with respect to a person if the President determines that the person knowingly, on or after the date that is 90 days after the date of the enactment of this Act, sells, supplies, or transfers, directly or indirectly, to or from Iran--
(1) a precious metal;
(2) a material described in subsection (c) determined pursuant to subsection (d)(1) to be used by Iran as described in that subsection;
(3) any other material described in subsection (c) if--
(A) the material is--
(i) to be used in connection with the energy, shipping, or shipbuilding sectors of Iran or any sector of the economy of Iran controlled directly or indirectly by Iran's Revolutionary Guard Corps;
(ii) sold, supplied, or transferred to or from an 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; or
(iii) relevant to the nuclear, military, or ballistic missile programs of Iran; or
(B) the material is resold, retransferred, or otherwise supplied--
(i) to an end-user in a sector described in clause (i) of subparagraph (A);
(ii) to a person described in clause (ii) of that subparagraph; or
(iii) for a program described in clause (iii) of that subparagraph.
(b) Facilitation of Certain Transactions.--The President shall prohibit the opening, and prohibit or impose strict conditions on the maintaining, in the United States of a correspondent account or a payable-through account by a foreign financial institution that the President determines knowingly, on or after the date that is 90 days after the date of the enactment of this Act, conducts or facilitates a significant financial transaction for the sale, supply, or transfer to or from Iran of materials the sale, supply, or transfer of which would subject a person to sanctions under subsection (a).
(c) Materials Described.--Materials described in this subsection are graphite, raw or semi-finished metals such as aluminum and steel, coal, and software for integrating industrial processes.
(d) Determination With Respect to Use of Materials.--Not later than 90 days after the date of the enactment of this Act, and every 90 days thereafter, the President shall submit to the appropriate congressional committees and publish in the Federal Register a report that contains the determination of the President with respect to--
(1) whether Iran is--
(A) using any of the materials described in subsection (c) as a medium for barter, swap, or any other exchange or transaction; or
(B) listing any of such materials as assets of the Government of Iran for purposes of the national balance sheet of Iran;
(2) which sectors of the economy of Iran are controlled directly or indirectly by Iran's Revolutionary Guard Corps; and
(3) which of the materials described in subsection (c) are relevant to the nuclear, military, or ballistic missile programs of Iran.
(e) Exception for Persons Exercising Due Diligence.--The President may not impose sanctions under subsection (a) or (b) with respect to a person 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 sell, supply, or transfer to or from Iran materials the sale, supply, or transfer of which would subject a person to sanctions under subsection (a) or conduct or facilitate a financial transaction for such a sale, supply, or transfer.
(f) Waiver.--
(1) IN GENERAL.--The President may waive the imposition of sanctions under this section for a period of not more than 120 days, and may renew that waiver for additional periods of not more than 120 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.
(g) National Balance Sheet of Iran Defined.--For purposes of this section, the term ``national balance sheet of Iran'' refers to the ratio of the assets of the Government of Iran to the liabilities of that Government.
SEC. 1256. 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) In General.--Except as provided in subsection (b), the President shall impose 5 or more of the sanctions described in section
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6(a) of the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note) with respect to a person if the President determines that the person knowingly, on or after the date that is 90 days after the date of the enactment of this Act, provides underwriting services or insurance or reinsurance--
(1) for any activity with respect to Iran for which sanctions have been imposed under this subtitle, the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.), the Iran Sanctions Act of 1996, the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (22 U.S.C. 8501 et seq.), the Iran Threat Reduction and Syria Human Rights Act of 2012 (22 U.S.C. 8701 et seq.), the Iran, North Korea, and Syria Nonproliferation Act (Public Law 106-178; 50 U.S.C. 1701 note), or any other provision of law relating to the imposition of sanctions with respect to Iran;
(2) to or for any person--
(A) 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 subtitle;
(B) for the sale, supply, or transfer to or from Iran of materials described in section 1255(c); or
(C) designated for the imposition of sanctions pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701 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
(3) 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)).
(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 paragraph (1) or (3) or subparagraph (A) or (B) of paragraph (2) of subsection (a) 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 paragraph (1) of that subsection or to or for any person described in paragraph (3) or subparagraph (A) or (B) of paragraph (2) 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 120 days, and may renew that waiver for additional periods of not more than 120 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.
(f) Application of Certain Provisions of Iran Sanctions Act of 1996.--The following provisions of the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note) shall 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 that Act:
(1) Subsections (c), (d), and (f) of section 5 (except for paragraphs (3) and (4)(C) of such subsection (f)).
(2) Sections 8, 11, and 12.
SEC. 1257. IMPOSITION OF SANCTIONS WITH RESPECT TO FOREIGN FINANCIAL INSTITUTIONS THAT FACILITATE FINANCIAL TRANSACTIONS ON BEHALF OF SPECIALLY DESIGNATED NATIONALS.
(a) In General.--Except as provided in this section, the President shall prohibit the opening, and prohibit or impose strict conditions on the maintaining, in the United States of a correspondent account or a payable-through account by a foreign financial institution that the President determines has, on or after the date that is 90 days after the date of the enactment of this Act, knowingly facilitated a significant financial transaction on behalf of 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)).
(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) with respect to any person for conducting or facilitating 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) Applicability of Sanctions to Petroleum and Petroleum Products.--
(1) IN GENERAL.--Except as provided in paragraph (2), subsection (a) shall apply with respect to a financial transaction for the purchase of petroleum or petroleum products from Iran only if, at the time of the transaction, a determination of the President under section 1245(d)(4)(B) of the National Defense Authorization Act for Fiscal Year 2012 (22 U.S.C. 8513a(d)(4)(B)) that the price and supply of petroleum and petroleum products produced in countries other than Iran is sufficient to permit purchasers of petroleum and petroleum products from Iran to reduce significantly their purchases from Iran is in effect.
(2) EXCEPTION FOR CERTAIN COUNTRIES.--
(A) IN GENERAL.--Subsection (a) shall not apply with respect to a financial transaction described in subparagraph (B) conducted or facilitated by a foreign financial institution for if, at the time of the transaction, the exception under section 1245(d)(4)(D)(i) of the National Defense Authorization Act for Fiscal Year 2012 (22 U.S.C. 8513a(d)(4)(D)(i)) applies to the country with primary jurisdiction over the foreign financial institution.
(B) FINANCIAL TRANSACTIONS DESCRIBED.--A financial transaction conducted or facilitated by a foreign financial institution is described in this subparagraph if--
(i) the financial transaction is for the purchase of purchase of petroleum or petroleum products from Iran;
(ii) the financial transaction is only for trade in goods or services--
(I) not otherwise subject to sanctions under the law of the United States; and
(II) between the country with primary jurisdiction over the foreign financial institution and Iran; and
(iii) any funds owed to Iran as a result of such trade are credited to an account located in the country with primary jurisdiction over the foreign financial institution.
(e) Applicability of Sanctions to Natural Gas.--Subsection (a) shall apply to a foreign financial institution that conducts or facilitates a financial transaction for the sale, supply, or transfer to or from Iran of natural gas unless--
(1) the financial transaction is only for trade in goods or services--
(A) not otherwise subject to sanctions under the law of the United States; and
(B) between the country with primary jurisdiction over the foreign financial institution and Iran; and
(2) any funds owed to Iran as a result of such trade are credited to an account located in the country with primary jurisdiction over the foreign financial institution.
(f) Waiver.--
(1) IN GENERAL.--The President may waive the imposition of sanctions under subsection (a) for a period of not more than 120 days, and may renew that waiver for additional periods of not more than 120 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.
SEC. 1258. INCLUSION OF THE ISLAMIC REPUBLIC OF IRAN BROADCASTING ON THE LIST OF HUMAN RIGHTS ABUSERS.
(a) Findings.--Congress makes the following findings:
(1) The Islamic Republic of Iran Broadcasting has contributed to the infringement of individuals' human rights by broadcasting forced televised confession and show trials.
(2) In March 2012, the European Council imposed sanctions on the President of the Islamic Republic of Iran Broadcasting, Ezzatollah Zargami, for broadcasting forced confessions of detainees and a series of ``show trials'' in August 2009 and December 2011 that constituted a clear violation of international law with respect to the right to a fair trial and due process.
(b) Inclusion of the Islamic Republic of Iran Broadcasting on the List of Human Rights Abusers.--The President shall include the Islamic Republic of Iran Broadcasting and the President of the Islamic Republic of Iran Broadcasting, Ezzatollah Zargami, in the first update to the list of persons complicit in, or responsible for ordering, controlling, or otherwise directing, the commission of serious human rights abuses against citizens of Iran or their family members submitted under section 105 o