Page:United States Statutes at Large Volume 110 Part 2.djvu/755

 PUBLIC LAW 104-172—AUG. 5, 1996 110 STAT. 1547 ties that resulted in the determination by the President under section 5(a) or 5(b) concerning such person. (3) ADDITIONAL DELAY IN IMPOSITION OF SANCTIONS.—The President may delay the imposition of sanctions for up to an additional 90 days if the President determines and certifies to the Congress that the government with primary jurisdiction over the person concerned is in the process of taking the actions described in paragraph (2). (4) REPORT TO CONGRESS.— Not later than 90 days after making a determination under section 5(a) or 5(b), the President shall submit to the appropriate congressional committees a report on the status of consultations with the appropriate foreign government under this subsection, and the basis for any determination under paragraph (3). (b) DURATION OF SANCTIONS.— ^A sanction imposed under section 5 shall remain in effect— (1) for a period of not less than 2 years from the date on which it is imposed; or (2) until such time as the President determines and certifies to the Congress that the person whose activities were the basis for imposing the sanction is no longer engaging in such activities and that the President has received reliable assurances that such person will not knowingly engage in such activities in the future, except that such sanction shall remain in effect for a period of at least 1 year. (c) PRESIDENTIAL WAIVER.— (1) AUTHORITY.— The President may waive the requirement Reports, in section 5 to impose a sanction or sanctions on a person described in section 5(c), and may waive the continued imposition of a sanction or sanctions under subsection (b) of this section, 30 days or more after the President determines and so reports to the appropriate congressional committees that it is important to the national interest of the United States to exercise such waiver authority. (2) CONTENTS OF REPORT.— Any report under paragraph (1) shall provide a specific and detailed rationale for the determination under paragraph (1), including— (A) a description of the conduct that resulted in the determination under section 5(a) or (b), as the case may be; (B) in the case of a foreign person, an explanation of the efforts to secure the cooperation of the government with primary jurisdiction over the sanctioned person to terminate or, as appropriate, penalize the activities that resulted in the determination under section 5(a) or (b), as the case may be; (C) an estimate as to the significance— (i) of the provision of the items described in section 5(a) to Iran's ability to develop its petroleum resources, or (ii) of the provision of the items described in section 5(b)(1) to the abilities of Libya described in subparagraph (A), (B), or (C) of section 5(b)(1), or of the investment described in section 5(b)(2) on Libya's ability to develop its petroleum resources, as the case may be; and

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