Report on implementation of sanctions

Not later than 90 days after the date of the enactment of this Act, and annually thereafter for a period of 3 years, the Secretary of State, in consultation with the Secretary of the Treasury, shall submit to the Committee on Foreign Relations of the Senate and the Committee on Foreign Affairs of the House of Representatives a report on the implementation of section 5 of the Reinforcing Nicaragua’s Adherence to the Conditions for Electoral Reform Act of 2021 (Public Law 117–54; 50 U.S.C. 1701 note), which shall include— (1) an update on the status of efforts to implement a coordinated strategy on the use of targeted sanctions under section 5(a)(1) of that Act; (2) a detailed description of concrete steps that have been taken under section 5(b)(1) of that Act to prioritize the implementation of the targeted sanctions required under section 5 of the Nicaragua Investment Conditionality Act of 2018 (Public Law 115–335; 50 U.S.C. 1701 note); and (3) a detailed description of the results of the review of sanctionable targets required under section 5(b)(2) of the Reinforcing Nicaragua’s Adherence to the Conditions for Electoral Reform Act of 2021 (Public Law 117–54; 50 U.S.C. 1701 note).