Administrative measures

(a) Implementation; penalties (1) Implementation 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) to carry out this Act. (2) 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 regulations promulgated to carry out this Act to the same extent that such penalties apply to a person who commits an unlawful act described in section 206(a) of that Act. (b) Waiver The President may waive the application of sanctions imposed with respect to a United States person or a foreign person (as the case may be) under this section for periods not to exceed 180 days if the President certifies to the appropriate congressional committees not later than 15 days before such waiver is to take effect that the waiver is vital to the national security interests of the United States and includes a description of the specific national security rationale therefor in the certification. (c) Regulatory authority (1) In general The President shall, not later than 180 days after the date of the enactment of this Act, prescribe regulations as necessary for the implementation of this Act. (2) Application of certain regulations Pursuant to paragraph (1), any regulations that the President prescribes necessary for the implementation of section 3 of this Act shall amend part 587 of title 31, Code of Federal Regulations