1. (a) In general The President shall impose five or more of the sanctions described in section 9529 of this title if the President determines that a person, with actual knowledge, on or after August 2, 2017, makes an investment of $10,000,000 or more (or any combination of investments of not less than $1,000,000 each, which in the aggregate equals or exceeds $10,000,000 in any 12-month period), or facilitates such an investment, if the investment directly and significantly contributes to the ability of the Russian Federation to privatize state-owned assets in a manner that unjustly benefits—

   1. (1) officials of the Government of the Russian Federation; or
   2. (2) close associates or family members of those officials.

2. (b) Application of new sanctions The President may waive the initial application of sanctions under subsection (a) with respect to a person only if the President submits to the appropriate congressional committees—

   1. (1) a written determination that the waiver—

      1. (A) is in the vital national security interests of the United States; or
      2. (B) will further the enforcement of this chapter; and
   2. (2) a certification that the Government of the Russian Federation is taking steps to implement the Minsk Agreement to address the ongoing conflict in eastern Ukraine, signed in Minsk, Belarus, on February 11, 2015, by the leaders of Ukraine, Russia, France, and Germany, the Minsk Protocol, which was agreed to on September 5, 2014, and any successor agreements that are agreed to by the Government of Ukraine.

(Pub. L. 115–44, title II, § 233, Aug. 2, 2017, 131 Stat. 917.)

Editorial Notes

References in Text

This chapter, referred to in subsec. (b)(1)(B), was in the original “this title”, meaning title II of Pub. L. 115–44, Aug. 2, 2017, 131 Stat. 898, which is classified principally to this chapter. For complete classification of title II to the Code, see section 201 of Pub. L. 115–44, set out as a Short Title note under section 9501 of this title and Tables.