Penalties; waivers; exceptions

(a) Penalties A person that violates, attempts to violate, conspires to violate, or causes a violation of this Act or any regulation, license, or order issued to carry out this Act shall be subject to the penalties set forth in subsections (b) and (c) of section 206 of the International Emergency Economic Powers Act (50 U.S.C. 1705) to the same extent as a person that commits an unlawful act described in subsection (a) of that section. (b) National security waiver The President may waive the application of sanctions under this Act with respect to a foreign government or foreign person if the President determines that the waiver is in the national security interest of the United States. (c) Exceptions for intelligence and law enforcement activities This Act shall not apply with respect to— (1) activities subject to the reporting requirements under title V of the National Security Act of 1947 (50 U.S.C. 3091 et seq.) or any authorized intelligence activities of the United States; or (2) activities necessary to carry out or assist law enforcement activity of the United States.