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Title I — Imposition of sanctions against entities owned or controlled by the Armed Forces of Iran

H.R. 4821 · 115th Congress · Jan 18, 2018 · Lineage

I Imposition of sanctions against entities owned or controlled by the Armed Forces of Iran

Sec. 101 Imposition of sanctions against entities owned or controlled by the Armed Forces of Iran

(a)
In general— The President shall impose the sanctions described in subsection (c) with respect to any entity described in subsection (b).
(b)
Entity described—
(1)
In general— An entity described in this subsection is an entity, including an entity listed on the Tehran Stock Exchange, that is owned or controlled by the Armed Forces of Iran regardless of whether the entity itself is 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.
(2)
Definition— In this subsection, the term Armed Forces of Iran includes—
(A)
Iran’s Revolutionary Guard Corps;
(B)
the Basij paramilitary;
(C)
the regular military;
(D)
the Ministry of Defense and Armed Forces Logistics (MODAFL);
(E)
the police; and
(F)
the General Staff of the Armed Forces.
(c)
Sanctions described—
(1)
In general— The blocking, in accordance with the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.), of all transactions in all property and interests in property of an entity if such property and interests in property are in the United States, come within the United States, or are or come within the possession or control of a United States person.
(2)
Inapplicability of national emergency requirement— The requirements of section 202 of the International Emergency Economic Powers Act (50 U.S.C. 1701) shall not apply for purposes of this section.
(d)
Definitions— In this section:
(1)
United States person— The term United States person means—
(A)
a United States citizen or an alien lawfully admitted for permanent residence to the United States; or
(B)
an entity organized under the laws of the United States or of any jurisdiction within the United States, including a foreign branch of such an entity.
(2)
Own or control— The term own or control means, with respect to an entity—
(A)
to hold more than 20 percent of the equity interest by vote or value in the entity;
(B)
to hold a majority of seats on the board of directors of the entity; or
(C)
to otherwise control the actions, policies, or personnel decisions of the entity.

Sec. 102 Watch List and report

(a)
In general— The Secretary of the Treasury shall establish, maintain, and publish in the Federal Register a list of each entity with respect to which the Armed Forces of Iran (as defined in section 101(b)(2))—
(1)
holds less than 20 percent of the equity interest by vote or value in the entity; or
(2)
does not own any interest in the entity but maintains a presence on the board of directors of the entity or otherwise influences the actions, policies, or personnel decisions of the entity.
(b)
Report— Not later than 90 days after the date of the enactment of the Act, and annually thereafter, the Secretary of the Treasury shall submit to Congress a report on any changes to the list required by subsection (a).
(c)
Reference— The list required by subsection (a) shall be known as the “IRGC Watch List”.