No official summary available for this bill.
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 3740 Introduced in Senate (IS)]
<DOC>
119th CONGRESS
2d Session
S. 3740
To impose sanctions and other measures with respect to the Government
of Syria, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
January 29, 2026
Mr. Graham (for himself and Mr. Blumenthal) introduced the following
bill; which was read twice and referred to the Committee on Banking,
Housing, and Urban Affairs
_______________________________________________________________________
A BILL
To impose sanctions and other measures with respect to the Government
of Syria, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) Short Title.--This Act may be cited as the ``Save the Kurds
Act''.
(b) Table of Contents.--The table of contents for this Act is as
follows:
Sec. 1. Short title; table of contents.
Sec. 2. Definitions.
Sec. 3. Sense of Congress.
TITLE I--REDESIGNATION OF HAY'AT TAHRIR AL-SHAM AS A FOREIGN TERRORIST
ORGANIZATION
Sec. 101. Redesignation of Hay'at Tahrir al-Sham as a foreign terrorist
organization.
TITLE II--CONGRESSIONAL REVIEW OF TERMINATION OF STATE SPONSOR OF
TERRORISM DESIGNATION OF SYRIA
Sec. 201. Authority to terminate state sponsor of terrorism designation
of Syria; congressional review.
TITLE III--SANCTIONS AND OTHER MEASURES
Sec. 301. Imposition of sanctions with respect to certain persons
affiliated with or supporting the
Government of Syria.
Sec. 302. Imposition of sanctions with respect to Syrian financial
institutions.
Sec. 303. Reimposition of sanctions under repealed Executive orders.
Sec. 304. Imposition of sanctions with respect to other entities owned
or controlled by the Government of Syria.
Sec. 305. Prohibition on transfers of funds involving Syria.
Sec. 306. Prohibition on listing or trading of Syrian entities on
United States securities exchanges.
Sec. 307. Prohibition on investments by United States persons in Syria.
Sec. 308. Imposition of sanctions on energy exports to Syria.
Sec. 309. Prohibition on purchases of sovereign debt of Syria by United
States persons.
Sec. 310. Prohibition on provision of services to sanctioned financial
institutions by international financial
messaging systems.
TITLE IV--GENERAL PROVISIONS
Sec. 401. Exceptions.
Sec. 402. Implementation; penalties; regulatory authorities.
Sec. 403. Exception relating to importation of goods.
Sec. 404. Suspension and reinstatement of provisions.
Sec. 405. Rule of construction.
Sec. 406. Prohibition on construction of provisions of this Act as an
authorization for use of military force.
Sec. 407. Sunset.
SEC. 2. DEFINITIONS.
In this Act:
(1) Admission; admitted; alien; etc.--The terms
``admission'', ``admitted'', ``alien'', and ``lawfully admitted
for permanent residence'' have the meanings given those terms
in section 101 of the Immigration and Nationality Act (8 U.S.C.
1101).
(2) Appropriate congressional committees.--The term
``appropriate congressional committees'' means--
(A) the Committee on Foreign Relations, the
Committee on Banking, Housing, and Urban Affairs, the
Committee on the Judiciary, and the Committee on
Appropriations of the Senate; and
(B) the Committee on Foreign Affairs, the Committee
on Financial Services, the Committee on Ways and Means,
the Committee on the Judiciary, and the Committee on
Appropriations of the House of Representatives.
(3) Foreign person.--The term ``foreign person'' means a
person that is not a United States person.
(4) Knowingly.--The term ``knowingly'', with respect to
conduct, a circumstance, or a result, means that a person has
actual knowledge, or should have known, of the conduct, the
circumstance, or the result.
(5) State sponsor of terrorism.--The term ``state sponsor
of terrorism'' means a country the government of which the
Secretary of State has determined has repeatedly provided
support for acts of international terrorism for purposes of--
(A) section 1754(c)(1)(A)(i) of the Export Control
Reform Act of 2018 (50 U.S.C. 4813(c)(1)(A)(i));
(B) section 620A of the Foreign Assistance Act of
1961 (22 U.S.C. 2371);
(C) section 40(d) of the Arms Export Control Act
(22 U.S.C. 2780(d)); or
(D) any other provision of law.
(6) United states person.--The term ``United States
person'' means--
(A) any United States citizen or an alien lawfully
admitted for permanent residence to the United States;
(B) an entity organized under the laws of the
United States or of any jurisdiction within the United
States (including any foreign branch of such an
entity); or
(C) any person in the United States.
SEC. 3. SENSE OF CONGRESS.
It is the sense of Congress that--
(1) the Kurdish-led Syrian Democratic Forces made
significant contributions to the elimination of the ISIS
``caliphate'';
(2) the Kurdish-led Syrian Democratic Forces, with
assistance from the United States-led coalition, have detained
thousands of ISIS fighters and their families, ensuring the
safety of the United States and the region;
(3) the Kurdish-led Syrian Democratic Forces continue to be
a reliable and critical partner in preventing the resurgence of
ISIS; and
(4) any behavior by the Government of Syria or regional
actors that undermines the role of the Kurdish-led Syrian
Democratic Forces in countering ISIS and protecting United
States security interests is inconsistent with the national
security objectives of the United States.
TITLE I--REDESIGNATION OF HAY'AT TAHRIR AL-SHAM AS A FOREIGN TERRORIST
ORGANIZATION
SEC. 101. REDESIGNATION OF HAY'AT TAHRIR AL-SHAM AS A FOREIGN TERRORIST
ORGANIZATION.
Upon the enactment of this Act, the Secretary of State shall
designate al-Nusrah Front, also known as Hay'at Tahrir al-Sham, as a
foreign terrorist organization under section 219 of the Immigration and
Nationality Act (8 U.S.C. 1189).
TITLE II--CONGRESSIONAL REVIEW OF TERMINATION OF STATE SPONSOR OF
TERRORISM DESIGNATION OF SYRIA
SEC. 201. AUTHORITY TO TERMINATE STATE SPONSOR OF TERRORISM DESIGNATION
OF SYRIA; CONGRESSIONAL REVIEW.
(a) Authority To Terminate State Sponsor of Terrorism
Designation.--Subject to subsection (b), the President may terminate
the designation of Syria as a state sponsor of terrorism if the
President submits to Congress a report explaining why the termination
is in the national security interests of the United States.
(b) Period for Review by Congress.--
(1) In general.--During the period of 90 calendar days
beginning on the date on which the President submits a report
under subsection (a) with respect to termination of the
designation of Syria as a state sponsor of terrorism, the
termination shall not take effect. If, after the end of that
period, a joint resolution of disapproval with respect to the
termination of the designation has not been enacted into law
under subsection (c), the termination may take effect.
(2) Consideration by congress.--During the period described
in paragraph (1), the appropriate congressional committees
should, as appropriate, hold hearings and briefings and
otherwise obtain information in order to fully review the
report.
(3) Exception.--The period for congressional review under
paragraph (1) of a report required to be submitted under
subsection (a) shall be 120 calendar days if the report is
submitted on or after July 10 and on or before September 7 in
any calendar year.
(c) Joint Resolution of Disapproval.--
(1) Joint resolution of disapproval defined.--In this
subsection, the term ``joint resolution of disapproval'' means
only a joint resolution of either House of Congress the sole
matter after the resolving clause of which is as follows:
``That Congress disapproves of the termination, under section
201 of the Save the Kurds Act, of the designation of Syria as a
state sponsor of terrorism, with respect to which the President
submitted a report on ___.'', with the blank space being filled
with the appropriate date.
(2) Introduction.--During the period of 90 calendar days
provided for under subsection (b)(1), including any additional
period as applicable under the exception provided in subsection
(b)(3), a joint resolution of disapproval may be introduced--
(A) in the House of Representatives, by the
majority leader or the minority leader; and
(B) in the Senate, by the majority leader (or a
designee of the majority leader) or the minority leader
(or a designee of the minority leader).
(3) Consideration in house of representatives.--
(A) Reporting and discharge.--Any committee of the
House of Representatives to which a joint resolution of
disapproval is referred shall report it to the House of
Representatives without amendment not later than 10
calendar days after the date of referral. If a
committee fails to report the joint resolution within
that period, the committee shall be discharged from
further consideration of the joint resolution and the
joint resolution shall be referred to the appropriate
calendar.
(B) Proceeding to consideration.--After each
committee authorized to consider a joint resolution of
disapproval reports it to the House of Representatives
or has been discharged from its consideration, it shall
be in order to move to proceed to consider the joint
resolution of disapproval in the House of
Representatives. All points of order against the motion
are waived. The previous question shall be considered
as ordered on the motion to its adoption without
intervening motion. The motion shall not be debatable.
A motion to reconsider the vote by which the motion is
disposed of shall not be in order.
(C) Consideration.--The joint resolution of
disapproval shall be considered as read. All points of
order against the joint resolution of disapproval and
against its consideration are waived. The previous
question shall be considered as ordered on the joint
resolution of disapproval to its passage without
intervening motion except 2 hours of debate equally
divided and controlled by the proponent and an
opponent. A motion to reconsider the vote on passage of
the joint resolution of disapproval shall not be in
order.
(4) Consideration in the senate.--
(A) Reporting and discharge.--If the committee of
the Senate to which a joint resolution of disapproval
has been referred has not reported the joint resolution
within 10 calendar days after the date of referral of
the joint resolution, that committee shall be
discharged from further consideration of the joint
resolution and the joint resolution shall be placed on
the appropriate calendar.
(B) Proceeding to consideration.--Notwithstanding
Rule XXII of the Standing Rules of the Senate, it is in
order at any time after the committee of the Senate to
which a joint resolution of disapproval has been
referred reports the joint resolution to the Senate or
has been discharged from consideration of such a joint
resolution to move to proceed to the consideration of
the joint resolution, and all points of order against
the joint resolution (and against consideration of the
joint resolution) are waived. The motion to proceed is
not debatable. The motion is not subject to a motion to
postpone. A motion to reconsider the vote by which the
motion is agreed to or disagreed to shall not be in
order. Approval by the Senate of a motion to proceed to
a joint resolution of disapproval shall require the
affirmative vote of three-fifths of Members of the
Senate, duly chosen and sworn.
(C) Consideration.--Consideration in the Senate of
a joint resolution of disapproval and of all debatable
motions and appeals in connection therewith shall not
exceed a total of 10 hours, which shall be divided
equally between the majority and minority leaders or
their designees. Any debatable motion or appeal is
debatable for not to exceed 1 hour, to be divided
equally between those favoring and those opposing the
motion or appeal.
(D) No amendments or motions.--An amendment to a
joint resolution of disapproval, a motion to postpone,
a motion to proceed to the consideration of other
business, or a motion to recommit the joint resolution
is not in order.
(E) Vote on joint resolution.--If the Senate has
voted to proceed to a joint resolution of disapproval,
the vote on approval of the joint resolution shall
occur immediately following the conclusion of
consideration of the joint resolution, and a single
quorum call if requested. Approval by the Senate of a
joint resolution of disapproval shall require the
affirmative vote of three-fifths of Members of the
Senate, duly chosen and sworn.
(F) Consideration of veto messages.--Consideration
in the Senate of any veto message with respect to a
joint resolution of disapproval, including all
debatable motions and appeals in connection with the
joint resolution, shall be limited to 10 hours, to be
equally divided between, and controlled by, the
majority leader and the minority leader or their
designees.
(5) Coordination with action by other house.--
(A) Receipt of resolution from other house.--If,
before the passage by one House of a joint resolution
of disapproval of that House, that House receives from
the other House a joint resolution of disapproval, then
the following procedures shall apply:
(i) The joint resolution of the other House
shall not be referred to a committee.
(ii) With respect to a joint resolution of
the House receiving the resolution--
(I) the procedure in that House
shall be the same as if no joint
resolution had been received from the
other House; but
(II) the vote on passage shall be
on the joint resolution of the other
House.
(B) Treatment of joint resolution of other house if
no companion measure.--If one House fails to introduce
or consider a joint resolution of disapproval under
this section, the joint resolution of the other House
shall be entitled to expedited floor procedures under
this section.
(C) Treatment of companion measures in senate.--If,
following passage of a joint resolution of disapproval
in the Senate, the Senate then receives a joint
resolution of disapproval from the House of
Representatives, the joint resolution from the House
shall not be debatable.
(6) Rules of the house of representatives and senate.--This
subsection is enacted by Congress--
(A) as an exercise of the rulemaking power of the
Senate and the House of Representatives, respectively,
and as such is deemed a part of the rules of each
House, respectively, and supersedes other rules only to
the extent that it is inconsistent with such rules; and
(B) 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.
TITLE III--SANCTIONS AND OTHER MEASURES
SEC. 301. IMPOSITION OF SANCTIONS WITH RESPECT TO CERTAIN PERSONS
AFFILIATED WITH OR SUPPORTING THE GOVERNMENT OF SYRIA.
(a) In General.--On and after the date of the enactment of this
Act, the President shall impose sanctions in subsection (c) with
respect to the following:
(1) The following officials of the Government of Syria:
(A) The President of Syria.
(B) The Minister of Defense.
(C) The Minister of Economy and Industry.
(D) The Minister of Agriculture.
(E) The Minister of Administrative Development.
(F) The Minister of Communications and Information
Technology.
(G) The Minister of Culture.
(H) The Minister of Education.
(I) The Minister of Emergency and Disaster
Management.
(J) The Minister of Energy.
(K) The Minister of Finance.
(L) The Minister of Foreign Affairs and
Expatriates.
(M) The Minister of Health.
(N) The Minister of Higher Education and Research.
(O) The Minister of Information.
(P) The Minister of Interior.
(Q) The Minister of Justice.
(R) The Minister of Local Administration and
Environment.
(S) The Minister of Public Works and Housing.
(T) The Minister of Religious Endowments.
(U) The Minister of Social Affairs and Labour.
(V) The Minister of Tourism.
(W) The Minister of Transport.
(X) The Minister of Youth and Sports.
(Y) The Chief of the General Staff of the Army and
Armed Forces.
(Z) The Governor the Central Bank of Syria.
(AA) The Board of the Syrian Sovereign Fund.
(BB) The Director General of the Syrian Development
Fund.
(CC) The Director General of the Syrian Investment
Authority.
(DD) The Head of the Syrian Central Financial
Control Body.
(EE) The Head of the Syrian Petroleum Company.
(FF) The Head of the General Authority for Borders
and Customs.
(GG) Any other senior official of the Government of
Syria, as determined by the President.
(2) Any foreign person that is responsible for or complicit
in, or has directly or indirectly engaged in, for or on behalf
of, or for the benefit of, directly or indirectly, the
Government of Syria--
(A) transnational crime, corruption, bribery,
extortion, or money laundering;
(B) assassination, murder, or other unlawful
killing of, or infliction of other bodily harm or other
crimes against humanity against, a United States person
or a citizen or national of an ally or partner of the
United States;
(C) activities that undermine the peace, security,
political stability, or territorial integrity of the
United States or an ally or partner of the United
States; or
(D) deceptive or structured transactions or
dealings that circumvent the application of any
sanctions imposed by the United States, including
through the use of digital currencies or assets or the
use of physical assets.
(3) Any foreign person the President determines knowingly,
on or after the date of the enactment of this Act--
(A) provides financial, material, or technological
support to, or engages in a transaction with--
(i) the Government of Syria (including any
entity owned or controlled by the Government of
Syria) or a senior political figure of the
Government of Syria;
(ii) the Armed Forces of Syria or a foreign
person that is a military contractor,
mercenary, or a paramilitary force knowingly
operating in a military capacity inside Syria,
or any other armed entity or foreign person
operating, for or on behalf of the Government
of Syria; or
(iii) a foreign person subject to sanctions
pursuant to the International Emergency
Economic Powers Act (50 U.S.C. 1701 et seq.)
with respect to Syria or any other provision of
law that imposes sanctions with respect to
Syria;
(B) sells or provides goods, services, technology,
information, or other support that facilitates the
maintenance or expansion of the Government of Syria's
domestic production of any energy product, including
natural gas, petroleum, and petroleum products;
(C) sells or provides aircraft or spare aircraft
parts that are used for military purposes in Syria for
or on behalf of the Government of Syria to any foreign
person operating in an area directly or indirectly
controlled by the Government of Syria or foreign forces
associated with the Government of Syria;
(D) provides goods or services associated with the
operation of aircraft that are used for military
purposes in Syria for or on behalf of the Government of
Syria to any foreign person operating in an area
described in subparagraph (C);
(E) directly or indirectly, provides construction
or engineering services to the Government of Syria;
(F) is involved in committing serious abuses of
internationally recognized human rights against
citizens of Syria, including forcible transfers,
enforced disappearances, unjust detainment, forced
deportation of children, or torture; or
(G) is a leader, official, senior executive
officer, or member of the board of directors of, or
principal shareholder with a controlling or majority
interest in, an entity that is operating in the defense
industrial base or energy or transportation sectors of
the economy of Syria in support of the Armed Forces of
Syria.
(b) Sense of Congress.--It is the sense of Congress that, in
implementing this section, the President should consider financial
support under subsection (a)(3)(A) to include the provision of loans,
credits, or export credits.
(c) Sanctions Described.--
(1) In general.--The sanctions to be imposed with respect
to a foreign person described in subsection (a) are the
following:
(A) Blocking of property.--The President shall
exercise all of the powers granted to the President
under the International Emergency Economic Powers Act
(50 U.S.C. 1701 et seq.) to the extent necessary to
block and prohibit all transactions in property and
interests in property of the foreign person if such
property and interests in property are in the United
States, come within the United States, or are or come
within the possession or control of a United States
person.
(B) Ineligibility for visas, admission, or
parole.--
(i) Visas, admission, or parole.--An alien
described in subsection (a) is--
(I) inadmissible to the United
States;
(II) ineligible to receive a visa
or other documentation to enter the
United States; and
(III) otherwise ineligible to be
admitted or paroled into the United
States or to receive any other benefit
under the Immigration and Nationality
Act (8 U.S.C. 1101 et seq.).
(ii) Current visas revoked.--
(I) In general.--An alien described
in subsection is subject to revocation
of any visa or other entry
documentation regardless of when the
visa or other entry documentation is or
was issued.
(II) Immediate effect.--A
revocation under subclause (I) shall--
(aa) take effect
immediately; and
(bb) automatically cancel
any other valid visa or entry
documentation that is in the
alien's possession.
SEC. 302. IMPOSITION OF SANCTIONS WITH RESPECT TO SYRIAN FINANCIAL
INSTITUTIONS.
(a) Imposition of Sanctions.--
(1) In general.--Upon the enactment of this Act, the
President shall--
(A) impose all of the sanctions described in
subsection (d) with respect to--
(i) the Central Bank of Syria;
(ii) any financial institution organized
under the laws of Syria and owned in whole or
in part by the Government of Syria;
(iii) any subsidiary of, or successor
entity to, the Central Bank of Syria or any
financial institution described in clause (ii);
and
(iv) except as provided by subsection (c),
any foreign financial institution that engages
in transactions with the Central Bank of Syria
or any financial institution described in
clause (ii) or (iii); and
(B) impose the sanctions described in subsection
(e) with respect to any leaders, officials, senior
executive officers, or members of the board of
directors of, or any principal shareholders with a
controlling or majority interest in, the Central Bank
of Syria or any financial institution described in
clause (ii), (iii), or (iv).
(2) Updates.--Not later than 210 days after the date of the
enactment of this Act, and every 180 days thereafter, the
President shall--
(A) review any persons that may be described in
paragraph (1); and
(B) if sanctions have not been imposed under this
subsection with respect to any person the President
determines is described in paragraph (1), impose such
sanctions with respect to that person.
(b) Prohibition on Transactions by United States Persons.--
Effective on the date that is 30 days after the date of the enactment
of this Act, the President shall prohibit any United States person from
engaging in any transaction with the Central Bank of Syria or any
financial institution described in clause (ii), (iii), or (iv) of
subsection (a)(1)(A).
(c) Exception for Certain Financial Institutions.--The President is
not required to impose sanctions under subsection (a)(1)(A) with
respect to a foreign financial institution described in clause (iv) of
that subsection if the Secretary of the Treasury determines that
imposing such sanctions is not consistent with the economic or foreign
policy interests of the United States.
(d) Sanctions Applicable to Financial Institutions.--The sanctions
described in this subsection to be imposed with respect to a financial
institution described in subsection (a) are the following:
(1) Blocking of property.--The President shall exercise all
of the powers granted to the President under the International
Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) to the
extent necessary to block and prohibit all transactions in
property and interests in property of the financial institution
if such property and interests in property are in the United
States, come within the United States, or are or come within
the possession or control of a United States person.
(2) Restrictions on correspondent and payable-through
accounts.--The President shall prohibit the opening, and
prohibit or impose strict conditions on the maintaining, in the
United States, of a correspondent account or payable-through
account by the financial institution.
(e) Sanctions Applicable to Individuals.--The sanctions described
in this subsection to be imposed with respect to an individual
described in subsection (a) are the following:
(1) Blocking of property.--The President shall exercise all
of the powers granted to the President under the International
Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) to the
extent necessary to block and prohibit all transactions in
property and interests in property of the individual if such
property and interests in property are in the United States,
come within the United States, or are or come within the
possession or control of a United States person.
(2) Ineligibility for visas, admission, or parole.--
(A) Visas, admission, or parole.--An alien
described in subsection (a) shall be--
(i) inadmissible to the United States;
(ii) ineligible to receive a visa or other
documentation to enter the United States; and
(iii) otherwise ineligible to be admitted
or paroled into the United States or to receive
any other benefit under the Immigration and
Nationality Act (8 U.S.C. 1101 et seq.).
(B) Current visas revoked.--
(i) In general.--The visa or other entry
documentation of an alien described in
subsection (a) shall be revoked, regardless of
when such visa or other entry documentation is
or was issued.
(ii) Immediate effect.--A revocation under
clause (i) shall--
(I) take effect immediately; and
(II) automatically cancel any other
valid visa or entry documentation that
is in the possession of the alien.
SEC. 303. REIMPOSITION OF SANCTIONS UNDER REPEALED EXECUTIVE ORDERS.
(a) In General.--On and after the date of the enactment of this
Act--
(1) sanctions and other measures provided for under each
Executive order specified in subsection (b) shall apply; and
(2) sanctions and other measures imposed with respect to a
person under any such Executive order on June 30, 2025, shall
be reinstated.
(b) Executive Orders Specified.--The Executive orders specified in
this subsection are the following, as in effect on June 30, 2025:
(1) Executive Order 13338 (50 U.S.C. 1701 note; relating to
blocking property of certain persons and prohibiting the export
of certain goods to Syria).
(2) Executive Order 13399 (50 U.S.C. 1701 note; relating to
blocking property of additional persons in connection with the
national emergency with respect to Syria).
(3) Executive Order 13460 (50 U.S.C. 1701 note; relating to
blocking property of additional persons in connection with the
national emergency with respect to Syria).
(4) Executive Order 13582 (50 U.S.C. 1701 note; relating to
blocking property of the Government of Syria and prohibiting
certain transactions with respect to Syria).
SEC. 304. IMPOSITION OF SANCTIONS WITH RESPECT TO OTHER ENTITIES OWNED
OR CONTROLLED BY THE GOVERNMENT OF SYRIA.
(a) In General.--Not later than 180 days after the date of the
enactment of this Act, and every 180 days thereafter, the President
shall--
(1) review any entity--
(A) in which the Government of Syria may have a
controlling or majority ownership interest; or
(B) that may otherwise be affiliated with the
Government of Syria; and
(2) impose the sanctions described in subsection (b) with
respect to an entity if the President determines that--
(A) the Government of Syria has a controlling or
majority ownership interest in the entity; or
(B) the entity is otherwise affiliated with the
Government of Syria.
(b) Sanctions Described.--The President shall exercise all of the
powers granted to the President under the International Emergency
Economic Powers Act (50 U.S.C. 1701 et seq.) to the extent necessary to
block and prohibit all transactions in property and interests in
property of an entity described in subsection (a) if such property and
interests in property are in the United States, come within the United
States, or are or come within the possession or control of a United
States person.
SEC. 305. PROHIBITION ON TRANSFERS OF FUNDS INVOLVING SYRIA.
(a) In General.--Except as provided by subsection (b), on and after
the date of the enactment of this Act, a depository institution (as
defined in section 19(b)(1)(A) of the Federal Reserve Act (12 U.S.C.
461(b)(1)(A))) or a broker or dealer in securities registered with the
Securities and Exchange Commission under the Securities Exchange Act of
1934 (15 U.S.C. 78a et seq.) may not process transfers of funds--
(1) to or from the Government of Syria, including any
entity owned by the Government of Syria; or
(2) for the direct or indirect benefit of officials of the
Government of Syria.
(b) Exception.--A depository institution, broker, or dealer
described in subsection (a) may process a transfer described in that
subsection if the transfer arises from, and is ordinarily incident and
necessary to give effect to, an underlying transaction that is
authorized by a specific or general license.
SEC. 306. PROHIBITION ON LISTING OR TRADING OF SYRIAN ENTITIES ON
UNITED STATES SECURITIES EXCHANGES.
(a) In General.--Not later than 30 days after the date of the
enactment of this Act, the Securities and Exchange Commission shall
prohibit the securities of an issuer described in subsection (b) from
being traded on a national securities exchange.
(b) Issuers.--An issuer described in this subsection is an issuer
that is--
(1) an official of or individual affiliated with the
Government of Syria; or
(2) an entity--
(A) in which the Government of Syria has a
controlling or majority ownership interest; or
(B) that is otherwise affiliated with the
Government of Syria.
(c) Definitions.--In this section:
(1) Issuer; security.--The terms ``issuer'' and
``security'' have the meanings given those terms in section
3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)).
(2) National securities exchange.--The term ``national
securities exchange'' means an exchange registered as a
national securities exchange in accordance with section 6 of
the Securities Exchange Act of 1934 (15 U.S.C. 78f).
SEC. 307. PROHIBITION ON INVESTMENTS BY UNITED STATES PERSONS IN SYRIA.
On and after the date of the enactment of this Act, the following
are prohibited:
(1) New investment in Syria by a United States person,
wherever located.
(2) The exportation, reexportation, sale, or supply,
directly or indirectly, from the United States, or by a United
States person, wherever located, of any category of services
identified by the Secretary of the Treasury, in consultation
with the Secretary of State, to any person located in Syria.
(3) Any approval, financing, facilitation, or guarantee by
a United States person, wherever located, of a transaction by a
foreign person if the transaction by that foreign person would
be prohibited by this section if performed by a United States
person or within the United States.
SEC. 308. IMPOSITION OF SANCTIONS ON ENERGY EXPORTS TO SYRIA.
The President shall impose the sanctions described in section
301(c) with respect to any foreign person that the President determines
knowingly sells, supplies, transfers, markets, or otherwise provides
goods, services, technology, or other support that facilitates the
maintenance or expansion of the production of oil, natural gas,
liquefied natural gas, petroleum, petroleum products, petrochemical
products, coal, or coal products for use by any person subject to
sanctions under section 301.
SEC. 309. PROHIBITION ON PURCHASES OF SOVEREIGN DEBT OF SYRIA BY UNITED
STATES PERSONS.
On and after the date of the enactment of this Act, the purchase of
sovereign debt of the Government of Syria by any United States person
(including a United States financial institution) is prohibited.
SEC. 310. PROHIBITION ON PROVISION OF SERVICES TO SANCTIONED FINANCIAL
INSTITUTIONS BY INTERNATIONAL FINANCIAL MESSAGING
SYSTEMS.
(a) In General.--Not later than 180 days after the date of the
enactment of this Act, and every 180 days thereafter, the President
shall--
(1) review any person that may be described in subsection
(b); and
(2) impose sanctions pursuant to the International
Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) with
respect to any person the President determines is described in
that subsection.
(b) Persons Described.--A person described in this subsection is--
(1) any entity that--
(A) operates with the intent to predominantly
engage in the business of providing global financial
messaging services; and
(B) is determined by the Secretary of the Treasury,
in consultation with the Secretary of State, as
knowingly being used to circumvent any sanctions
imposed under any provision of this Act; or
(2) a leader, official, senior executive officer, or member
of the board of directors of, or principal shareholder with a
controlling or majority interest in, any entity described in
paragraph (1).
(c) Exception.--The President may waive the imposition of sanctions
under subsection (a) with respect to an entity predominantly engaged in
the business of providing global financial messaging services for,
directly providing such services to, or enabling or facilitating direct
or indirect access to such services for, any financial institution
subject to sanctions under any other provision of this Act if the
entity--
(1) is subject to a sanctions regime under its governing
foreign law that requires it to eliminate the knowing provision
of such services to, and the knowing enabling and facilitation
of direct or indirect access to such services for, foreign
financial institutions identified under such governing foreign
law for purposes of that sanctions regime if the President
determines that the sanctions regime under governing foreign
law is not inconsistent with the economic or foreign policy
interests of the United States;
(2) has, pursuant to that sanctions regime, terminated the
knowing provision of such services to, and the knowing enabling
and facilitation of direct or indirect access to such services
for, foreign financial institutions identified under such
governing foreign law for purposes of that sanctions regime;
and
(3) provides significant financial messaging services to
United States financial institutions, as determined by the
Secretary of the Treasury, in consultation with the Secretary
of State.
(d) Rule of Construction.--Nothing in this section shall be
construed to limit the authority of the President pursuant to the
International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.).
TITLE IV--GENERAL PROVISIONS
SEC. 401. EXCEPTIONS.
(a) Intelligence Activities.--This Act shall not apply with respect
to any activity subject to the reporting requirements under title V of
the National Security Act of 1947 (50 U.S.C. 3091 et seq.) and any
authorized intelligence activities of the United States.
(b) Admission for International and Law Enforcement Purposes.--
Sanctions under this Act shall not apply with respect to the admission
or parole of an alien into the United States if admitting or paroling
the alien is necessary--
(1) to permit the United States to comply with the
Agreement regarding the Headquarters of the United Nations,
signed at Lake Success June 26, 1947, and entered into force
November 21, 1947, between the United Nations and the United
States, or other applicable international obligations; or
(2) to carry out or assist law enforcement activity in the
United States.
(c) Exception for Humanitarian Assistance.--
(1) In general.--Sanctions and other measures under this
Act shall not apply to--
(A) the conduct or facilitation of a transaction
for the provision of agricultural commodities, food,
medicine, medical devices, humanitarian assistance, or
for humanitarian purposes; or
(B) transactions that are necessary for, or related
to, the activities described in subparagraph (A).
(2) Definitions.--In this subsection:
(A) Agricultural commodity.--The term
``agricultural commodity'' has the meaning given such
term in section 102 of the Agricultural Trade Act of
1978 (7 U.S.C. 5602).
(B) Medical device.--The term ``medical device''
has the meaning given the term ``device'' in section
201 of the Federal Food, Drug, and Cosmetic Act (21
U.S.C. 321).
(C) Medicine.--The term ``medicine'' has the
meaning given the term ``drug'' in section 201 of the
Federal Food, Drug, and Cosmetic Act (21 U.S.C. 321).
(d) General Licenses.--
(1) In general.--This Act shall not apply with respect to a
United States person that is operating under the terms of a
general license issued by the Department of the Treasury before
the date of the enactment of this Act.
(2) Rule of construction.--Nothing in this Act shall be
construed to affect the terms of a general license described in
paragraph (1), the authority of United States persons to
continue to operate under such a license, or the authority of
the Secretary of the Treasury to extend or issue new general
licenses.
SEC. 402. IMPLEMENTATION; PENALTIES; REGULATORY AUTHORITIES.
(a) Implementation Authority.--The President may exercise all
authorities provided to the President under sections 203 and 205 of the
International Emergency Economic Powers Act (50 U.S.C. 1702 and 1704)
for purposes of carrying out this Act.
(b) Penalties.--The penalties provided for in subsections (b) and
(c) of section 206 of the International Emergency Economic Powers Act
(50 U.S.C. 1705) shall apply to a person that violates, attempts to
violate, conspires to violate, or causes a violation of this Act or
regulations prescribed to carry out this Act to the same extent that
such penalties apply to a person that commits an unlawful act described
in section 206(a) of that Act.
(c) Regulatory Authority.--The President shall, not later than 180
days after the date of the enactment of this Act, promulgate
regulations as necessary for the implementation of this Act.
SEC. 403. EXCEPTION RELATING TO IMPORTATION OF GOODS.
(a) In General.--The authorities and requirements to impose
sanctions under this Act shall not include the authority or a
requirement to impose sanctions on the importation of goods.
(b) Good Defined.--In this section, the term ``good'' means any
article, natural or manmade substance, material, supply or manufactured
product, including inspection and test equipment, and excluding
technical data.
SEC. 404. SUSPENSION AND REINSTATEMENT OF PROVISIONS.
(a) Suspension.--The President may suspend, in whole or in part,
any provision of this Act if the President certifies to Congress in
writing that the Government of Syria has ceased all attacks on the
Kurdish-led Syrian Democratic Forces and their partners.
(b) Reimposition.--If, after the suspension of any provision of
this Act under subsection (a), the Government of Syria, or any other
entity or foreign person acting on behalf of the Government of Syria,
attacks the Kurdish-led Syrian Democratic Forces or their partners, the
President shall immediately resume application of the provision and
continue the application of any provision not so suspended.
SEC. 405. RULE OF CONSTRUCTION.
Except for section 403 with respect to the importation of goods,
nothing in this Act shall be construed to limit the authority of the
President pursuant to the International Emergency Economic Powers Act
(50 U.S.C. 1701 et seq.) or any other provision of law.
SEC. 406. PROHIBITION ON CONSTRUCTION OF PROVISIONS OF THIS ACT AS AN
AUTHORIZATION FOR USE OF MILITARY FORCE.
Nothing in this Act may be construed as an authorization for use of
military force.
SEC. 407. SUNSET.
This Act shall terminate on the date that is 5 years after the date
of the enactment of this Act.
<all>
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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