SECTION 1. SHORT TITLE.
This Act may be cited as the `Sanctions Policy Reform Act'.
SEC. 2. PURPOSE.
It is the purpose of this Act to establish an effective framework for consideration by the legislative and executive branches of unilateral economic sanctions in order to ensure coordination of United States policy with respect to trade, security, and human rights.
SEC. 3. STATEMENT OF POLICY.
It is the policy of the United States--
(1) to pursue United States interests through vigorous and effective diplomatic, political, commercial, charitable,
educational, cultural, and strategic engagement with other countries, while recognizing that the national security interests
of the United States may sometimes require the imposition of economic sanctions on other countries;
(2) to foster multilateral cooperation on vital matters of United States foreign policy, including promoting human rights
and democracy, combating international terrorism, proliferation of weapons of mass destruction, and international
narcotics trafficking, and ensuring adequate environmental protection;
(3) to promote United States economic growth and job creation by expanding exports of goods, services, and agricultural
commodities, and by encouraging investment that supports the sale abroad of products and services of the United States;
(4) to maintain the reputation of United States businesses and farmers as reliable suppliers to international customers of
quality products and services, including United States manufactures, technology products, financial services, and
agricultural commodities;
(5) to avoid the use of restrictions on exports of agricultural commodities as a foreign policy weapon;
(6) to oppose policies of other countries designed to discourage economic interaction with countries friendly to the
United States or with any United States national, and to avoid use of such policies as instruments of United States foreign
policy; and
(7) when economic sanctions are necessary--
(A) to target them as narrowly as possible on those foreign governments, entities, and officials that are
responsible for the conduct being targeted, thereby minimizing unnecessary or disproportionate harm to
individuals who are not responsible for such conduct; and
(B) to the extent feasible, to avoid any adverse impact of economic sanctions on the humanitarian activities of
United States and foreign nongovernmental organizations in a country against which sanctions are imposed.
SEC. 4. DEFINITIONS.
As used in this Act:
(1) UNILATERAL ECONOMIC SANCTION-
(A) IN GENERAL- The term `unilateral economic sanction' means any prohibition, restriction, or condition on
economic activity, including economic assistance, with respect to a foreign country or foreign entity that is
imposed by the United States for reasons of foreign policy or national security, including any of the measures
described in subparagraph (B), except in a case in which the United States imposes the measure pursuant to a
multilateral regime and the other members of that regime have agreed to impose substantially equivalent measures.
(B) PARTICULAR MEASURES- The measures referred to in subparagraph (A) are the following:
(i) The suspension of, or any restriction or prohibition on, exports or imports of any product, technology,
or service to or from a foreign country or entity.
(ii) The suspension of, or any restriction or prohibition on, financial transactions with a foreign country or
entity.
(iii) The suspension of, or any restriction or prohibition on, direct or indirect investment in or from a
foreign country or entity.
(iv) The imposition of increased tariffs on, or other restrictions on imports of, products of a foreign
country or entity, including the denial, revocation, or conditioning of nondiscriminatory
(most-favored-nation) trade treatment.
(v) The suspension of, or any restriction or prohibition on--
(I) the authority of the Export-Import Bank of the United States to give approval to the issuance of
any guarantee, insurance, or extension of credit in connection with the export of goods or services
to a foreign country or entity;
(II) the authority of the Trade and Development Agency to provide assistance in connection with
projects in a foreign country or in which a particular foreign entity participates; or
(III) the authority of the Overseas Private Investment Corporation to provide insurance,
reinsurance, or financing or conduct other activities in connection with projects in a foreign country
or in which a particular foreign entity participates.
(vi) A requirement that the United States representative to an international financial institution vote against
any loan or other utilization of funds to, for, or in a foreign country or particular foreign entity.
(vii) A measure imposing any restriction or condition on economic activity of any foreign government or
entity on the ground that such government or entity does business in or with a foreign country.
(viii) A measure imposing any restriction or condition on economic activity of any person that is a national
of a foreign country, or on any government or other entity of a foreign country, on the ground that the
government of that country has not taken measures in cooperation with, or similar to, sanctions imposed
by the United States on a third country.
(ix) The suspension of, or any restriction or prohibition on, travel rights or air transportation to or from a
foreign country.
(x) Any restriction on the filing or maintenance in a foreign country of any proprietary interest in
intellectual property rights (including patents, copyrights, and trademarks), including payment of patent
maintenance fees.
(C) MULTILATERAL REGIME- As used in this paragraph, the term `multilateral regime' means an agreement,
arrangement, or obligation under which the United States cooperates with other countries in restricting commerce
for reasons of foreign policy or national security, including--
(i) obligations under resolutions of the United Nations;
(ii) nonproliferation and export control arrangements, such as the Australia Group, the Nuclear Supplier's
Group, the Missile Technology Control Regime, and the Wassenaar Arrangement;
(iii) treaty obligations, such as under the Chemical Weapons Convention, the Treaty on the
Non-Proliferation of Nuclear Weapons, and the Biological Weapons Convention; and
(iv) agreements concerning protection of the environment, such as the International Convention for the
Conservation of Atlantic Tunas, the Declaration of Panama referred to in section 2(a)(1) of the
International Dolphin Conservation Act (16 U.S.C. 1361 note), the Convention on International Trade in
Endangered Species, the Montreal Protocol on Substances that Deplete the Ozone Layer, and the Basel
Convention on the Control of Transboundary Movements of Hazardous Wastes.
(D) ECONOMIC ASSISTANCE- The term `economic assistance' means--
(i) any assistance under part I or chapter 4 of part II of the Foreign Assistance Act of 1961 (including
programs under title IV of chapter 2 of part I of that Act, relating to the Overseas Private Investment
Corporation), other than-- (I) assistance under chapter 8 of part I of that Act,
(II) disaster relief assistance, including any assistance under chapter 9 of part I of that Act,
(III) assistance which involves the provision of food (including monetization of food) or medicine,
or
(IV) assistance for refugees; and
(ii) the provision of agricultural commodities, other than food, under the Agricultural Trade Development
and Assistance Act of 1954.
(E) FINANCIAL TRANSACTION- As used in this paragraph, the term `financial transaction' has the meaning
given that term in section 1956(c)(4) of title 18, United States Code.
(F) INVESTMENT- As used in this paragraph, the term `investment' means any contribution or commitment of
funds, commodities, services, patents, or other forms of intellectual property, processes, or techniques,
including--
(i) a loan or loans;
(ii) the purchase of a share of ownership;
(iii) participation in royalties, earnings, or profits; and
(iv) the furnishing or commodities or services pursuant to a lease or other contract.
(G) EXCLUSIONS- The term `unilateral economic sanction' does not include--
(i) any measure imposed to remedy unfair trade practices or to enforce United States rights under a trade
agreement, including under section 337 of the Tariff Act of 1930 (19 U.S.C. 1337), title VII of that Act
(19 U.S.C. 1671 et seq.), title III of the Trade Act of 1974 (19 U.S.C. 2411 et seq.), sections 1374 and
1377 of the Omnibus Trade and Competitiveness Act of 1988 (19 U.S.C. 3103 and 3106), and section 3 of
the Act of March 3, 1933 (41 U.S.C. 10b-1);
(ii) any measure imposed to remedy market disruption or to respond to injury to a domestic industry for
which increased imports are a substantial cause or threat thereof, including remedies under sections 201
and 406 of the Trade Act of 1974 (19 U.S.C. 2251 and 2436), and textile import restrictions (including
those imposed under section 204 of the Agricultural Act of 1956 (7 U.S.C. 1784));
(iii) any action taken under title IV of the Trade Act of 1974 (19 U.S.C. 2431 et seq.), including the
enactment of a joint resolution under section 402(d)(2) of that Act;
(iv) any measure imposed to restrict imports of agricultural commodities to protect food safety or to
ensure the orderly marketing of commodities in the United States, including actions taken under section 22
of the Agricultural Adjustment Act (7 U.S.C. 624);
(v) any measure imposed to restrict imports of any other products in order to protect domestic health or
safety;
(vi) any measure authorized by, or imposed under, a multilateral or bilateral trade agreement to which the
United States is a signatory, including the Uruguay Round Agreements, the North American Free Trade
Agreement, the United States-Israel Free Trade Agreement, and the United States-Canada Free Trade
Agreement; and
(vii) any prohibition or restriction on the sale, export, lease, or other transfer of any defense article,
defense service, or design and construction service under the Arms Export Control Act, or on any
financing provided under that Act.
(2) NATIONAL EMERGENCY- The term `national emergency' means any unusual or extraordinary threat, which has its
source in whole or substantial part outside the United States, to the national security, foreign policy, or economy of the
United States.
(3) AGRICULTURAL COMMODITY- The term `agricultural commodity' has the meaning given that term in section
102(1) of the Agricultural Trade Act of 1978 (7 U.S.C. 5602(1)).
(4) APPROPRIATE CONGRESSIONAL COMMITTEES- The term `appropriate congressional committees' means the
Committee on Agriculture, the Committee on International Relations, the Committee on Ways and Means, and the
Committee on Banking and Financial Services of the House of Representatives, and the Committee on Agriculture,
Nutrition, and Forestry, the Committee on Finance, and the Committee on Foreign Relations of the Senate.
(5) CONTRACT SANCTITY- The term `contract sanctity', with respect to a unilateral economic sanction, refers to the
inapplicability of the sanction to--
(A) a contract or agreement entered into before the sanction is imposed, or to a valid export license or other
authorization to export; and
(B) actions taken to enforce the right to maintain intellectual property rights, in the foreign country against which
the sanction is imposed, which existed before the imposition of the sanction.
(6) UNILATERAL ECONOMIC SANCTION LEGISLATION- The term `unilateral economic sanction legislation' means
a bill or joint resolution that imposes, or authorizes the imposition of, any unilateral economic sanction.
SEC. 5. GUIDELINES FOR UNILATERAL ECONOMIC SANCTIONS LEGISLATION.
It is the sense of Congress that any unilateral economic sanction legislation that is introduced in or reported to a House of
Congress on or after the date of enactment of this Act should--
(1) state the foreign policy or national security objective or objectives of the United States that the economic sanction is
intended to achieve;
(2) provide that the economic sanction terminate 2 years after it is imposed, unless specifically reauthorized by Congress;
(3) provide contract sanctity, except that contract sanctity shall not be required in any case--
(A) in which execution of the contract is contrary to law;
(B) in which the contract involves assets that will be frozen as a consequence of the proposed sanction; or
(C) in which the contract provides for the supply of goods or services directly to a specific person, government
agency, or military unit that is expressly named as a target of the proposed sanction;
(4) provide authority for the President both to adjust the timing and scope of the sanction and to waive the sanction, if
the President determines it is in the national interest to do so;
(5)(A) target the sanction as narrowly as possible on foreign governments, entities, and officials that are responsible for
the conduct being targeted;
(B) not include restrictions on the provision of medicine, medical equipment, or food; and
(C) seek to minimize any adverse impact on the humanitarian activities of United States and foreign nongovernmental
organizations in any country against which the sanction may be imposed;
(6) provide, to the extent that the Secretary of Agriculture finds, that--
(A) the proposed sanction is likely to restrict exports of any agricultural commodity or is likely to result in
retaliation against exports of any agricultural commodity from the United States; and
(B) the sanction is proposed to be imposed, or is likely to be imposed, on a country or countries that constituted,
in the preceding calendar year, the market for more than 3 percent of all export sales from the United States of an
agricultural commodity; and
(7) provide that the Secretary of Agriculture expand agricultural export assistance under United States market
development, food assistance, or export promotion programs to offset the likely damage to incomes of producers of the
affected agricultural commodity, to the maximum extent permitted by law and by the obligations of the United States
under the Agreement on Agriculture referred to in section 101(d)(2) of the Uruguay Round Agreements Act (19 U.S.C.
3511(d)(2)). SEC. 6. REQUIREMENTS FOR UNILATERAL ECONOMIC SANCTIONS LEGISLATION.
(a) PUBLIC COMMENT- Not later than 15 days prior to the consideration by the committee of primary jurisdiction of any
unilateral economic sanction legislation, the chairman of the committee shall cause to be printed in the Congressional Record a
notice that provides an opportunity for interested members of the public to submit comments to the committee on the proposed
sanction.
(b) COMMITTEE REPORTS- In the case of any unilateral economic sanction legislation that is reported by a committee of the
House of Representatives or the Senate, the committee report accompanying the legislation shall contain a statement of whether
the legislation meets all the guidelines specified in paragraphs (1) through (6) of section 5 and, if the legislation does not, an
explanation of why it does not. The report shall also include a specific statement of whether the legislation includes any
restrictions on the provision of medicine, medical equipment, or food.
(c) FLOOR CONSIDERATION IN THE HOUSE OF REPRESENTATIVES AND SENATE-
(1) FLOOR CONSIDERATION IN THE HOUSE OF REPRESENTATIVES- A motion in the House of Representatives
to proceed to the consideration of any unilateral economic sanctions legislation shall not be in order unless the House has
received in advance the appropriate report or reports under subsection (d).
(2) CONSIDERATION IN THE SENATE- A motion in the Senate to proceed to the consideration of any unilateral
economic sanctions legislation shall not be in order unless the Senate has received in advance the appropriate report or
reports under subsection (d).
(d) REPORTS-
(1) REPORT BY THE PRESIDENT- Not later than 30 days after a committee of the House of Representatives or the
Senate reports any unilateral economic sanction legislation or the House of Representatives or the Senate receives such
legislation from the other House of Congress, the President shall submit to the House receiving the legislation a report
containing--
(A) an assessment of--
(i) the likelihood that the proposed unilateral economic sanction will achieve its stated objective within a
reasonable period of time; and
(ii) the impact of the proposed unilateral economic sanction on--
(I) humanitarian conditions, including the impact on conditions in any specific countries on which
the sanction is proposed to be or may be imposed;
(II) humanitarian activities of United States and foreign nongovernmental organizations;
(III) relations with United States allies;
(IV) other United States national security and foreign policy interests; and
(V) countries and entities other than those on which the sanction is proposed to be or may be
imposed;
(B) a description and assessment of--
(i) diplomatic and other steps the United States has taken to accomplish the intended objectives of the
unilateral sanction legislation;
(ii) the likelihood of multilateral adoption of comparable measures;
(iii) comparable measures undertaken by other countries;
(iv) alternative measures to promote the same objectives, and an assessment of their potential
effectiveness;
(v) any obligations of the United States under international treaties or trade agreements with which the
proposed sanction may conflict;
(vi) the likelihood that the proposed sanction will lead to retaliation against United States interests, including
agricultural interests; and (vii) whether the achievement of the objectives of the proposed sanction outweighs any likely costs to
United States foreign policy, national security, economic, and humanitarian interests, including any
potential harm to United States business, agriculture, and consumers, and any potential harm to the
international reputation of the United States as a reliable supplier of products, technology, agricultural
commodities, and services.
(2) REPORT BY THE SECRETARY OF AGRICULTURE- Not later than 30 days after a committee of the House of
Representatives or the Senate reports any unilateral economic sanction legislation affecting the export of agricultural
commodities from the United States or the House of Representatives or the Senate receives such legislation from the
other House of Congress, the Secretary of Agriculture shall submit to the House receiving the legislation a report
containing an assessment of--
(A) the extent to which any country or countries proposed to be sanctioned or likely to be sanctioned are markets
that accounted for, in the preceding calendar year, more than 3 percent of all export sales from the United States
of any agricultural commodity;
(B) the likelihood that exports of agricultural commodities from the United States will be affected by the proposed
sanction or by retaliation by any country proposed to be sanctioned or likely to be sanctioned, and specific
commodities which are most likely to be affected;
(C) the likely effect on incomes of producers of the specific commodities identified by the Secretary;
(D) the extent to which the proposed sanction would permit foreign suppliers to replace United States suppliers;
and
(E) the likely effect of the proposed sanction on the reputation of United States farmers as reliable suppliers of
agricultural commodities in general, and of the specific commodities identified by the Secretary.
(3) REPORT BY THE CONGRESSIONAL BUDGET OFFICE- Any bill or joint resolution that imposes a unilateral
economic sanction shall be treated as including a Federal private sector mandate for purposes of part B of title IV of the
Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 658 et seq.) and the Congressional Budget Office
shall report accordingly. The report shall include an assessment of--
(A) the likely short-term and long-term costs of the proposed sanction to the United States economy, including
the potential impact on United States trade performance, employment, and growth;
(B) the impact the proposed sanction will have on the international reputation of the United States as a reliable
supplier of products, agricultural commodities, technology, and services; and
(C) the impact the proposed sanction will have on the economic well-being and international competitive position
of United States industries, firms, workers, farmers, and communities.
(e) RULES OF THE HOUSE OF REPRESENTATIVES AND SENATE- This section is enacted by Congress--
(1) as an exercise of the rulemaking power of the House of Representatives and the Senate, respectively, and as such
these rules are deemed a part of the rules of each House, respectively, and they supersede other rules only to the extent
that they are inconsistent therewith; and
(2) with full recognition of the constitutional right of either House to change the rules (so far as relating to the procedure
of that House) at any time, in the same manner and to the same extent as in the case of any other rule of that House.
SEC. 7. REQUIREMENTS FOR EXECUTIVE ACTION.
(a) NOTICE-
(1) IN GENERAL-
(A) NOTICE OF INTENT TO IMPOSE SANCTION- Notwithstanding any other provisions of law, the President
shall publish notice in the Federal Register at least 45 days in advance of the imposition of any new unilateral
economic sanction under any provision of law with respect to a foreign country or foreign entity, of the President's intention to implement such sanction. The purpose of such notice shall be to allow the formulation of an effective
sanction that advances United States national security and economic interests, and to provide an opportunity for negotiations to achieve
the objectives specified in the law authorizing imposition of a unilateral economic sanction.
(B) WAIVER OF ADVANCE NOTICE REQUIREMENT- The President may waive the provisions of
subparagraph (A) in the case of any new unilateral economic sanction that involves freezing the assets of a
foreign country or entity (or in the case of any other sanction) if the President determines that the national interest
would be jeopardized by the requirements of this section.
(C) AUTHORITY TO NEGOTIATE- Notwithstanding any other provision of law, the President is authorized to
negotiate with the foreign government against which a unilateral economic sanction is proposed to resolve the
underlying reasons for the sanction during the 45-day period following the publication of notice in the Federal
Register.
(2) NEW UNILATERAL ECONOMIC SANCTION- For purposes of this section, the term `new unilateral economic
sanction' means a unilateral economic sanction imposed pursuant to a law enacted after the date of enactment of this Act
or a sanction imposed after such date of enactment pursuant to the International Emergency Economic Powers Act (50
U.S.C. 1701 et seq.).
(b) CONSULTATION-
(1) IN GENERAL- The President shall consult with the appropriate congressional committees regarding a proposed new
unilateral economic sanction, including consultations regarding efforts to achieve or increase multilateral cooperation on
the issues or problems prompting the proposed sanction.
(2) CLASSIFIED CONSULTATIONS- The consultations described in paragraph (1) may be conducted on a classified
basis if disclosure would threaten the national security of the United States.
(c) PUBLIC COMMENT- The President shall publish a notice in the Federal Register of the opportunity for interested persons
to submit comments on any proposed new unilateral economic sanction.
(d) REQUIREMENTS FOR EXECUTIVE BRANCH SANCTIONS- Any new unilateral economic sanction imposed by the
President--
(1) shall--
(A) include an assessment of whether--
(i) the sanction is likely to achieve a specific United States foreign policy or national security objective
within a reasonable period of time, which shall be specified; and
(ii) the achievement of the objectives of the sanction outweighs any costs to United States national
interests;
(B) provide contract sanctity, except that contract sanctity shall not be required in any case--
(i) in which execution of the contract is contrary to law;
(ii) in which the contract involves assets that will be frozen as a consequence of the proposed sanction; or
(iii) in which the contract provides for the supply of goods or services directly to a specific person,
government agency, or military unit that is expressly named as a target of the proposed sanction;
(C) terminate not later than 2 years after the sanction is imposed, unless specifically extended by the President in
accordance with this section;
(D)(i) be targeted as narrowly as possible on foreign governments, entities, and officials that are responsible for
the conduct being targeted; and
(ii) seek to minimize any adverse impact on the humanitarian activities of United States and foreign
nongovernmental organizations in a country against which the sanction may be imposed; and
(E) not include any restriction on the export, financing, support, or provision of medicine, medical equipment,
medical supplies, food, or other agricultural commodity (including fertilizer), other than restrictions imposed in
response to national security threats, where multilateral sanctions are in place, or restrictions involving a country
where the United States is engaged in armed conflict; (2) should provide, to the extent that the Secretary of Agriculture finds, that--
(A) a new unilateral economic sanction is likely to restrict exports of any agricultural commodity from the United
States or is likely to result in retaliation against exports of any agricultural commodity from the United States; and
(B) the sanction is proposed to be imposed, or is likely to be imposed, on a country or countries that constituted,
in the preceding calendar year, the market for more than 3 percent of all export sales from the United States of an
agricultural commodity; and
(3) should provide that the Secretary of Agriculture expand agricultural export assistance under United States market
development, food assistance, and export promotion programs to offset the likely damage to incomes of producers of the
affected agricultural commodity, to the maximum extent permitted by law and by the obligations of the United States
under the Agreement on Agriculture referred to in section 101(d)(2) of the Uruguay Round Agreements Act (19 U.S.C.
3511(d)(2)).
(e) REPORT BY THE PRESIDENT-
(1) IN GENERAL- Prior to imposing any new unilateral economic sanction, the President shall provide a report to the
appropriate congressional committees on the proposed sanction. The report shall include the report of the International
Trade Commission under subsection (g) (if timely submitted prior to the filing of the report). The report may be provided
on a classified basis if disclosure would threaten the national security of the United States. The President's report shall
contain the following:
(A) An explanation of the foreign policy or national security objective or objectives intended to be achieved
through the proposed sanction.
(B) An assessment of--
(i) the likelihood that the proposed new unilateral economic sanction will achieve its stated objectives
within the stated period of time; and
(ii) the impact of the proposed new unilateral economic sanction on--
(I) humanitarian conditions, including the impact on conditions in any specific countries on which
the sanction is proposed to be imposed;
(II) humanitarian activities of United States and foreign nongovernmental organizations;
(III) relations with United States allies; and
(IV) other United States national security and foreign policy interests, including countries and
entities other than those on which the sanction is proposed to be imposed.
(C) A description and assessment of--
(i) diplomatic and other steps the United States has taken to accomplish the intended objectives of the
proposed sanction;
(ii) the likelihood of multilateral adoption of comparable measures;
(iii) comparable measures undertaken by other countries;
(iv) alternative measures to promote the same objectives, and an assessment of their potential
effectiveness;
(v) any obligations of the United States under international treaties or trade agreements with which the
proposed sanction may conflict;
(vi) the likelihood that the proposed sanction will lead to retaliation against United States interests, including
agricultural interests; and
(vii) whether the achievement of the objectives of the proposed sanction outweighs any likely costs to
United States foreign policy, national security, economic, and humanitarian interests, including any
potential harm to United States business, agriculture, and consumers, and any potential harm to the
international reputation of the United States as a reliable supplier of products, technology, agricultural
commodities, and services. (2) REPORT ON OTHER SANCTIONS- In the case of any unilateral economic sanction that is imposed after the date of
enactment of this Act, other than a new unilateral economic sanction described in subsection (a)(2) or a sanction that is a
continuation of a sanction in effect on the date of enactment of this Act, the President shall not later than 30 days after
imposing such sanction submit to Congress a report described in paragraph (1) relating to such sanction. The report may
be provided on a classified basis if disclosure would threaten the national security of the United States.
(f) REPORT BY THE SECRETARY OF AGRICULTURE- Prior to the imposition of a new unilateral economic sanction by the
President, the Secretary of Agriculture shall submit to the appropriate congressional committees a report that shall contain an
assessment of--
(1) the extent to which any country or countries proposed to be sanctioned are markets that accounted for, in the
preceding calendar year, more than 3 percent of all export sales from the United States of any agricultural commodity;
(2) the likelihood that exports of agricultural commodities from the United States will be affected by the proposed
sanction or by retaliation by any country proposed to be sanctioned, including specific commodities which are most
likely to be affected;
(3) the likely effect on incomes of producers of the specific commodities identified by the Secretary;
(4) the extent to which the proposed sanction would permit foreign suppliers to replace United States suppliers; and
(5) the likely effect of the proposed sanction on the reputation of United States farmers as reliable suppliers of
agricultural commodities in general, and of the specific commodities identified by the Secretary.
(g) REPORT BY THE UNITED STATES INTERNATIONAL TRADE COMMISSION- Before imposing a new unilateral
economic sanction, the President shall make a timely request to the United States International Trade Commission for a report
on the likely short-term and long-term costs of the proposed sanction to the United States economy, including the potential
impact on United States trade performance, employment, and growth, the international reputation of the United States as a
reliable supplier of products, agricultural commodities, technology, and services, and the economic well-being and international
competitive position of United States industries, firms, workers, farmers, and communities.
(h) WAIVER AUTHORITY- The President may waive any of the requirements of subsections (a), (b), (c), (e)(1), (f), and (g),
in the event that the President determines that such a waiver is in the national interest of the United States. In the event of such a
waiver, the requirements waived shall be met during the 60-day period immediately following the imposition of the new
unilateral economic sanction, and the sanction shall terminate 90 days after being imposed unless such requirements are met.
The President may waive any of the requirements of paragraphs (1)(B), (1)(D), (1)(E), and (2) of subsection (d) in the event
that the President determines that the new unilateral economic sanction is related to actual or imminent armed conflict involving
the United States.
(i) SANCTIONS REVIEW COMMITTEE-
(1) ESTABLISHMENT- There is established within the executive branch of Government an interagency committee,
which shall be known as the Sanctions Review Committee, which shall have the responsibility of coordinating United
States policy regarding unilateral economic sanctions and of providing appropriate recommendations to the President
prior to any decision regarding the implementation of any unilateral economic sanction. The Committee shall be
composed of the following 11 members, and any other member the President considers appropriate:
(A) The Secretary of State.
(B) The Secretary of the Treasury.
(C) The Secretary of Defense.
(D) The Secretary of Agriculture.
(E) The Secretary of Commerce.
(F) The Secretary of Energy.
(G) The United States Trade Representative.
(H) The Director of the Office of Management and Budget.
(I) The Chairman of the Council of Economic Advisers.
(J) The Assistant to the President for National Security Affairs.
(K) The Assistant to the President for Economic Policy.
(2) CHAIR- The President shall designate one of the members specified in paragraph (1) to serve as Chair of the
Sanctions Review Committee.
(j) INAPPLICABILITY OF OTHER PROVISIONS- This section applies notwithstanding any other provision of law.
SEC. 8. ANNUAL REPORTS.
(a) ANNUAL REPORT- Not later than 6 months after the date of enactment of this Act, and annually thereafter, unless
otherwise required under existing law, the President shall submit to the appropriate congressional committees a report detailing
with respect to each country or entity against which a unilateral economic sanction has been imposed--
(1) the extent to which the sanction has achieved foreign policy or national security objectives of the United States with
respect to that country or entity;
(2) the extent to which the sanction has harmed humanitarian interests in that country, the country in which that entity is
located, or in other countries; and
(3) the impact of the sanction on other national security and foreign policy interests of the United States, including
relations with countries friendly to the United States, and on the United States economy.
(b) REPORT BY THE UNITED STATES INTERNATIONAL TRADE COMMISSION- Not later than 6 months after the date
of enactment of this Act, and annually thereafter, the United States International Trade Commission shall report to the
appropriate congressional committees on the costs, individually and in the aggregate, of all unilateral economic sanctions in
effect under United States law, regulation, or Executive order. The calculation of such costs shall include an assessment of the
impact of such measures on the international reputation of the United States as a reliable supplier of products, agricultural
commodities, technology, and services.
SEC. 9. PRESIDENTIAL WAIVER AUTHORITY.
(a) WAIVER AUTHORITY- The President may waive the application of any sanction or prohibition (or portion thereof)
contained in section 101 or 102 of the Arms Export Control Act, section 620E(e) of the Foreign Assistance Act of 1961, or
section 2(b)(4) of the Export Import Bank Act of 1945 if the President determines that such a waiver would advance the
purposes of such Acts or the national security interests of the United States.
(b) CONSULTATION- Prior to exercising the waiver authority provided in subsection (a), the President shall consult with the
appropriate congressional committees. Such consultations may be conducted on a classified basis if disclosure would threaten
the national security of the United States.
(c) REPORTS- At least once every 6 months after exercising the waiver authority in subsection (a), the President shall report to
Congress with respect to the actions taken since the submission of the preceding report, and the reasons that continuation of
any waiver under subsection (a) remains in the national security interest of the United States.
SEC. 10. EFFECTIVE DATE.
This Act shall take effect on the date that is 20 days after the date of enactment of this Act.
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