Iran Ballistic Missile Prevention and Sanctions Act of 2016
Iran Ballistic Missile Prevention and Sanctions Act of 2016
This bill directs the President to impose five or more sanctions with respect to a person (or an entity) that knowingly transfers to or from Iran advanced conventional weapons or ballistic missiles, or technology, parts, components, or technical information related to advanced conventional weapons or ballistic missiles.
Sanctions may include:
- prohibitions on Export-Import Bank assistance,
- prohibitions on loans from U.S. financial institutions and other financial services,
- prohibitions on foreign exchange and other banking transactions,
- prohibitions on property transactions,
- prohibitions on exports and federal procurement,
- prohibitions on equity and debt investment,
- U.S. exclusion of corporate officers, and
- imposition of sanctions on principal executive officers.
The President shall include a sanctioned person on the list of specially designated nationals and blocked persons maintained by the Department of the Treasury's Office of Foreign Assets Control.
The President may, with prior congressional notice, waive the application of sanctions on a case-by-case basis if in the U.S. national security interests.
Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, the Judiciary, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.