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.