PUBLIC LAW 102-484—OCT. 23, 1992 106 STAT. 2573 ing for export to the sanctioned country of any component part. (4) SUSPENSION OF MILITARY AND DUAL-USE TECHNICAL EXCHANGE AGREEMENTS.— The United States shall suspend, for a period of one year, compliance with its obligations under any technical exchange agreement involving militery and dualuse technology between the United States and the sanctioned country that does not directly contribute to the security of the United States, and no military or dual-use technology may be exported from the United States to the sanctioned country pursuant to that agreement during that period. (5) UNITED STATES MUNITIONS LIST.— NO item on the United States Munitions List (established pursuant to section 38 of the Arms Export Control Act) may be exported to the sanctioned country for a period of one year. (c) DISCRETIONARY SANCTION.— The sanction referred to in subsection (a)(2) is as follows: (1) USE OF AUTHORITIES OF INTERNATIONAL EMERGENCY ECONOMIC POWERS ACT.— Except as provided in paragraph (2), the President may exercise, in accordance with the provisions of that Act, the authorities of the International Emergency Economic Powers Act with respect to the sanctioned country. (2) EXCEPTION.— Paragraph (1) does not apply with respect to urgent humanitarian assistance. SEC. 1606. WAIVER. The President may waive the requirement to impose a sanction President. described in section 1603, in the case of Iran, or a sanction described in section 1604(b) or 1605(b), in the case of Iraq and Iran, 15 days after the President determines and so reports to the Committees on Armed Services and Foreign Relations of the Senate and the Committees on Armed Services and Foreign Affairs of the House of Representatives that it is essential to the national interest of the United States to exercise such waiver authority. Any such report shall provide a specific and detailed rationale for such determination. SEC. 1607. REPORTING REQUIREMENT. (a) ANNUAL REPORT.—Beginning one year after the date of President. the enactment of this Act, and every 12 months thereafter, the President shall submit to the Committees on Armed Services and Foreign Relations of the Senate and the Committees on ^rmed Services and Foreign Affairs of the House of Representatives a report detailing— (1) all transfers or retransfers made by any person or foreign government during the preceding 12-month period which are subject to any sanction under this title; and (2) the actions the President intends to undertake or has undertaken pursuant to this title with respect to each such transfer. (b) REPORT ON INDIVIDUAL TRANSFERS. —Whenever the President determines that a person or foreign government has made a transfer which is subject to any sanction under this title, the President shall, within 30 days after such transfer, submit to the Committees on Armed Services and Foreign Relations of the Senate and the Committees on Armed Services and Foreign Affairs of the House of Representatives a report—
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