Page:United States Statutes at Large Volume 110 Part 1.djvu/818

 110 STAT. 794 PUBLIC LAW 104-114—MAR. 12, 1996 "(5) PROHIBITION ON INVESTMENT IN DOMESTIC TELE- COMMUNICATIONS SERVICES.— Nothing in this subsection shall be construed to authorize the investment by any United States person in the domestic telecommunications network within Cuba. For purposes of this paragraph, an 'investment' in the domestic telecommunications network within Cuba includes the contribution (including by donation) of funds or anything of value to or for, and the making of loans to or for, such network. President. "(6) REPORTS TO CONGRESS. — The President shall submit to the Congress on a semiannual basis a report detailing pay- ments made to Cuba by any United States person as a result of the provision of telecommunications services authorized by this subsection.". Effective date. (h) CODIFICATION OF ECONOMIC EMBARGO.— The economic embargo of Cuba, as in effect on March 1, 1996, including all restrictions under part 515 of title 31, Code of Federal Regulations, shall be in effect upon the enactment of this Act, and shall remain in effect, subject to section 204 of this Act. 22 USC 6033. SEC. 103. PROHIBITION AGAINST INDIRECT FINANCING OF CUBA. (a) PROHIBITION. —Notwithstanding any other provision of law, no loan, credit, or other financing may be extended knowingly by a United States national, a permanent resident alien, or a United States agency to any person for the purpose of financing transactions involving any confiscated property the claim to which is owned by a United States national as of the date of the enactment of this Act, except for financing by the United States national owning such claim for a transaction permitted under United States law. (b) SUSPENSION AND TERMINATION OF PROHIBITION.— (1) SUSPENSION.— The President is authorized to suspend the prohibition contained in subsection (a) upon a determination made under section 203(c)(1) that a transition government in Cuba is in power. (2) TERMINATION.—The prohibition contained in subsection (a) shall cease to apply on the date on which the economic embargo of Cuba terminates as provided in section 204. (c) PENALTIES. — Violations of subsection (a) shall be punishable by such civil penalties as are applicable to violations of the Cuban Assets Control Regulations set forth in part 515 of title 31, Code of Federal Regulations. (d) DEFINITIONS.—As used in this section— (1) the term "permanent resident alien" means an alien lawfully admitted for permanent residence into the United States; and (2) the term "United States agency" has the meaning given the term "agency" in section 551(1) of title 5, United States Code. 22 USC 6034. SEC. 104. UNITED STATES OPPOSITION TO CUBAN MEMBERSHIP IN INTERNATIONAL FINANCIAL INSTITUTIONS. (a) CONTINUED OPPOSITION TO CUBAN MEMBERSHIP IN INTER- NATIONAL FINANCIAL INSTITUTIONS.— President. (1) IN GENERAL.— Except as provided in paragraph (2), the Secretary of the Treasury shall instruct the United States executive director of each international financial institution to use the voice and vote of the United States to oppose the admission of Cuba as a member of such institution until the

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