Page:United States Statutes at Large Volume 110 Part 2.djvu/753

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PUBLIC LAW 104-172—AUG. 5, 1996 110 STAT. 1545 (B) component parts, but not finished products, essential to United States products or production; or (C) routine servicing and maintenance of products, to the extent that alternative sources are not readily or reasonably available; (6) to information and technology essential to United States products or production; or (7) to medicines, medical supplies, or other humanitarian items. SEC. 6. DESCRIPTION OF SANCTIONS. 50 USC 1701 The sanctions to be imposed on a sanctioned person under section 5 are as follows: (1) EXPORT-IMPORT BANK ASSISTANCE FOR EXPORTS TO SANC- TIONED PERSONS.— The President may direct the Export-Import Bank of the United States not to give approval to the issuance of any guarantee, insurance, extension of credit, or participation in the extension of credit in connection with the export of any goods or services to any sanctioned person. (2) EXPORT SANCTION.—The President may order the United States Government not to issue any specific license and not to grant any other specific permission or authority to export any goods or technology to a sanctioned person under— (i) the Export Administration Act of 1979; (ii) the Arms Export Control Act; (iii) the Atomic Energy Act of 1954; or (iv) any other statute that requires the prior review and approval of the United States Government as a condition for the export or reexport of goods or services. (3) LOANS FROM UNITED STATES FINANCIAL INSTITUTIONS.— The United States Government may prohibit any United States financial institution from making loans or providing credits to any sanctioned person totaling more than $10,000,000 in any 12-month period unless such person is engaged in activities to relieve human suffering and the loans or credits are provided for such activities. (4) PROHIBITIONS ON FINANCIAL INSTITUTIONS. — The following prohibitions may be imposed against a sanctioned person that is a financial institution: (A) PROHIBITION ON DESIGNATION AS PRIMARY DEALER. — Neither the Board of Governors of the Federal Reserve System nor the Federal Reserve Bank of New York may designate, or permit the continuation of any prior designation of, such financial institution as a primary dealer in United States Government debt instruments. (B) PROHIBITION ON SERVICE AS A REPOSITORY OF GOVERNMENT FUNDS.—Such financial institution may not serve as agent of the United States Government or serve as repository for United States Government funds. The imposition of either sanction under subparagraph (A) or (B) shall be treated as 1 sanction for purposes of section 5, and the imposition of both such sanctions shall be treated as 2 sanctions for purposes of section 5. (5) PROCUREMENT SANCTION.— The United States Government may not procure, or enter into any contract for the procurement of, any goods or services from a sanctioned person.