Opposition to assistance for any government that fails to implement sanctions on North Korea

1. Law
2. USC 22
3. Foreign Relations And Intercourse
4. INTERNATIONAL BUREAUS, CONGRESSES, ETC.
5. INTERNATIONAL MONETARY FUND AND BANK FOR RECONSTRUCTION AND DEVELOPMENT
6. Opposition to assistance for any government that fails to implement sanctions on North Korea

§286yy. Opposition to assistance for any government that fails to implement sanctions on North Korea

(a) In general

The Secretary of the Treasury shall instruct the United States Executive Director at each international financial institution (as defined in section 262r(c) of this title) that it is the policy of the United States to oppose the provision by that institution of financial assistance to a foreign government, other than assistance to support basic human needs, if the President determines that, in the year preceding consideration of approval of such assistance, the government has knowingly failed to adequately enforce sanctions under an applicable United Nations Security Council resolution (as defined in section 9202 of this title).

(b) Waiver

The President may waive subsection (a) for up to 180 days at a time with respect to a foreign government if the President-

(1) determines that-

(A) the failure of the foreign government described in subsection (a) is due exclusively to a lack of capacity on the part of the foreign government;

(B) the foreign government is taking effective steps to prevent recurrence of such failure; or

(C) the waiver is in the national security interests of the United States; and

(2) submits to Congress a report on the reasons for the determination under paragraph (1).

(July 31, 1945, ch. 339, §73, as added Pub. L. 116–92, div. F, title LXXI, §7124(a), Dec. 20, 2019, 133 Stat. 2248 .)

Repeal of Section

Pub. L. 116–92, div. F, title LXXI, §7124(b), Dec. 20, 2019, 133 Stat. 2249 , provided that, effective on the date that is 10 years after Dec. 20, 2019, this section is repealed.

Editorial Notes

Codification

Another section 73 of the Bretton Woods Agreements Act was enacted by Pub. L. 116–94 and is classified to section 286zz of this title.

Statutory Notes and Related Subsidiaries

Effective Date of Repeal

Pub. L. 116–92, div. F, title LXXI, §7124(b), Dec. 20, 2019, 133 Stat. 2249 , provided that: "Effective on the date that is 10 years after the date of the enactment of this Act [Dec. 20, 2019], section 73 of the Bretton Woods Agreements Act [this section], as added by subsection (a), is repealed."

Executive Documents

Delegation of Certain Functions and Authorities Under the National Defense Authorization Act for Fiscal Year 2020

Memorandum of President of the United States, Feb. 21, 2020, 85 F.R. 13717, provided:

Memorandum for the Secretary of State[,] the Secretary of the Treasury[,] the Secretary of Defense[,] the Secretary of Commerce[, and] the Director of National Intelligence

By the authority vested in me as President by the Constitution and the laws of the United States of America, including section 301 of title 3, United States Code, I hereby order as follows:

Section 1. (a) I hereby delegate to the Secretary of State, in consultation with the Secretary of the Treasury, the functions and authorities vested in the President by the following provisions of the National Defense Authorization Act for Fiscal Year 2020 (Public Law 116–92) (the "Act"):

(i) section 7503(d) [22 U.S.C. 9526 note];

(ii) section 7503(f) [22 U.S.C. 9526 note];

(iii) section 7503(h) [22 U.S.C. 9526 note];

(iv) section 7124, with respect to section 73 of the Bretton Woods Agreements Act (22 U.S.C. 286 et seq.) [22 U.S.C. 286yy], as amended by the Act;

(v) section 7131 [22 U.S.C. 9265]; and

(vi) section 7143, with respect to section 208 of the North Korea Sanctions and Policy Enhancement Act of 2016 (Public Law 114–122) (NKSPEA) [22 U.S.C. 9228], as amended by the Act.

(b) I hereby delegate to the Secretary of the Treasury, in consultation with the Secretary of State, the functions and authorities vested in the President by the following provisions of the Act:

(i) section 7503(c) [22 U.S.C. 9526 note];

(ii) section 7503(g) [22 U.S.C. 9526 note];

(iii) section 7121, with respect to section 201B of NKSPEA [22 U.S.C. 9221b], as amended by the Act; and

(iv) section 7122, with respect to section 104(g) of NKSPEA [22 U.S.C. 9214(g)], as amended by the Act.

(c) I hereby delegate to the Secretary of the Treasury and the Secretary of Commerce the functions and authorities vested in the President by section 7132 of the Act [22 U.S.C. 9265a].

(d) I hereby delegate to the Secretary of the Treasury the functions and authorities vested in the President by section 7141 of the Act [22 U.S.C. 9269].

(e) I hereby delegate to the Director of National Intelligence, in consultation with the Secretary of State and the Secretary of the Treasury, the functions and authorities vested in the President by section 7133 of the Act [133 Stat. 2253].

(f) I hereby delegate to the Secretary of State, in consultation with the Secretary of Defense, the functions and authorities vested in the President by section 1227 of the Act [133 Stat. 1646].

Sec. 2. The delegations in this memorandum shall apply to any provisions of any future public laws that are the same or substantially the same as those provisions referenced in this memorandum.

Sec. 3. The Secretary of State is authorized and directed to publish this memorandum in the Federal Register.

Donald J. Trump.      

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