22 U.S.C. § 8723 — Imposition of sanctions with respect to purchase, subscription to, or facilitation of the issuance of Iranian sovereign debt

submitted 14 years ago by Pub. L. 112-158 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 197 words · no verdicts yet

in plain englishAI-generated · not legal advice

The President must impose at least five listed sanctions on a person who knowingly buys, subscribes to, or helps issue certain Iranian sovereign or government-controlled debt issued after August 10, 2012. The specified Iran Sanctions Act provisions apply to these sanctions.

(a) The President must impose at least five sanctions listed in section 6(a) of the Iran Sanctions Act on a person the President finds knowingly, on or after August 10, 2012, purchased, subscribed to, or facilitated issuance of (1) Iranian Government sovereign debt issued on or after that date, including government bonds, or (2) debt, including bonds, of an entity owned or controlled by that Government issued on or after that date. (b) The Iran Sanctions Act provisions applying to section 5(a) sanctions also apply here: section 4(c); sections 5(c), (d), and (f); sections 8, 9, 11, and 12; section 13(b); and section 14.

the actual law source: uscode.house.gov ↗public domain

(a) In general

The President shall impose 5 or more of the sanctions described in section 6(a) of the Iran Sanctions Act of 1996, as amended by section 204, with respect to a person if the President determines that the person knowingly, on or after August 10, 2012, purchases, subscribes to, or facilitates the issuance of—

(1)

sovereign debt of the Government of Iran issued on or after August 10, 2012, including governmental bonds; or

(2)

debt of any entity owned or controlled by the Government of Iran issued on or after August 10, 2012, including bonds.

(b) Application of provisions of Iran Sanctions Act of 1996

The following provisions of the Iran Sanctions Act of 1996, as amended by this Act, 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 the Iran Sanctions Act of 1996:

(1)

Subsection (c) of section 4.

(2)

Subsections (c), (d), and (f) of section 5.

(3)

(4)

(5)

(6)