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(a) Prohibition on United States assistance
(1) In general
Notwithstanding any other provision of law, no United States Government assistance, including United States foreign assistance, United States export assistance, and any United States credit or guarantees shall be available for exports to Cuba or for commercial exports to Iran, Libya, North Korea, or Sudan.
(2) Rule of construction
Nothing in paragraph (1) shall be construed to alter, modify, or otherwise affect the provisions of section 6039 of this title or any other provision of law relating to Cuba in effect on the day before October 28, 2000.
The President may waive the application of paragraph (1) with respect to Iran, Libya, North Korea, and Sudan to the degree the President determines that it is in the national security interest of the United States to do so, or for humanitarian reasons.
(b) Prohibition on financing of agricultural sales to Cuba
(1) In general
No United States person may provide payment or financing terms for sales of agricultural commodities or products to Cuba or any person in Cuba, except in accordance with the following terms (notwithstanding part 515 of title 31, Code of Federal Regulations, or any other provision of law):
(A) Payment of cash in advance.
(B) Financing by third country financial institutions (excluding United States persons or Government of Cuba entities), except that such financing may be confirmed or advised by a United States financial institution.
Nothing in this paragraph authorizes payment terms or trade financing involving a debit or credit to an account of a person located in Cuba or of the Government of Cuba maintained on the books of a United States depository institution.
Any private person or entity that violates paragraph (1) shall be subject to the penalties provided in the Trading With the Enemy Act [50 App. U.S.C.A. § 1 et seq.] for violations under that Act.
(3) Administration and enforcement
The President shall issue such regulations as are necessary to carry out this section, except that the President, in lieu of issuing new regulations, may apply any regulations in effect on October 28, 2000, pursuant to the Trading With the Enemy Act [50 App. U.S.C.A. § 1 et seq.], with respect to the conduct prohibited in paragraph (1).
In this subsection--
(A) the term “financing” includes any loan or extension of credit;
(B) the term “United States depository institution” means any entity (including its foreign branches or subsidiaries) organized under the laws of any jurisdiction within the United States, or any agency, office or branch located in the United States of a foreign entity, that is engaged primarily in the business of banking (including a bank, savings bank, savings association, credit union, trust company, or United States bank holding company); and
(C) the term “United States person” means the Federal Government, any State or local government, or any private person or entity of the United States.
Cite this article: FindLaw.com - 22 U.S.C. § 7207 - U.S. Code - Unannotated Title 22. Foreign Relations and Intercourse § 7207. Prohibition on United States assistance and financing - last updated January 01, 2018 | https://codes.findlaw.com/us/title-22-foreign-relations-and-intercourse/22-usc-sect-7207.html
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