Termination of sanctions

(a) Termination of sanctions on individual persons (1) In general The President may terminate the application of sanctions under this Act with respect to a covered person if— (A) the President determines that— (i) credible and verifiable information exists that the person never met the criteria for inclusion in the list required by section 5(a)(1); (ii) credible and verifiable information exists that the person— (I) no longer meets such criteria; and (II) has credibly committed to not engage in any activity that would meet such criteria in the future; or (iii) the termination of the sanctions is in the national security interests of the United States; (B) the President submits to the appropriate congressional committees and leadership a report that includes— (i) a request to terminate the application of sanctions under this Act with respect to the person; and (ii) a description of the reasons for that request; and (C) a joint resolution of disapproval relating to the report submitted under subparagraph (B) is not enacted into law pursuant to section 9. (2) Confidentiality of proprietary information Proprietary information that can be associated with a request to terminate sanctions with respect to a specific covered person may be included in a report submitted under paragraph (1)(B) only if— (A) the appropriate congressional committees and leadership provide assurances of confidentiality; or (B) the covered person consents in writing to the inclusion of the information. (b) Termination of sanctions program The President may terminate the application of all sanctions under this Act with respect to a country if— (1) the President determines that there no longer exists any covered person in that country that meets the criteria for inclusion in the list required by section 5(a)(1); (2) the President submits to the appropriate congressional committees and leadership a report that includes— (A) a request to terminate the application of sanctions under this Act; and (B) a description of the reasons for that request; and (3) a joint resolution of disapproval relating to the report submitted under paragraph (2) is not enacted into law pursuant to section 9.