View all text of Subchapter II [§ 8721 - § 8727]
§ 8721. Imposition of sanctions with respect to the provision of vessels or shipping services to transport certain goods related to proliferation or terrorism activities to Iran
(a) In general
(b) Persons specifiedThe persons specified in this subsection are—
(1) the person that sold, leased, or provided a vessel or provided insurance or reinsurance or another shipping service described in subsection (a); and
(2) any person that—
(A) is a successor entity to the person referred to in paragraph (1);
(B) owns or controls the person referred to in paragraph (1), if the person that owns or controls the person referred to in paragraph (1) had actual knowledge or should have known that the person referred to in paragraph (1) sold, leased, or provided the vessel or provided the insurance or reinsurance or other shipping service; or
(C) is owned or controlled by, or under common ownership or control with, the person referred to in paragraph (1), if the person owned or controlled by, or under common ownership or control with (as the case may be), the person referred to in paragraph (1) knowingly engaged in the sale, lease, or provision of the vessel or the provision of the insurance or reinsurance or other shipping service.
(c) WaiverThe President may waive the requirement to impose sanctions with respect to a person under subsection (a) on or after the date that is 30 days after the President—
(1) determines that such a waiver is vital to the national security interests of the United States; and
(2) submits to the appropriate congressional committees a report that contains the reasons for that determination.
(d) Report required
(1) In general
(2) Form of report
(e) Rule of construction
(Pub. L. 112–158, title II, § 211, Aug. 10, 2012, 126 Stat. 1228.)