Penalties— The President is authorized to apply the penalties provided for in subsections (b) and (c) of section 206 of the International Emergency Economic Powers Act (
50 U.S.C. 1705) with respect to a person that knowingly violates, attempts to violate, conspires to violate, or causes a violation of regulations promulgated to carry out the Executive order referred to in section 2(a) and enacted into law by such section to the same extent that such penalties apply to a person that knowingly commits an unlawful act described in section 206(a) of such Act.