22 USC § 9221c - Prohibition on transactions with certain sanctioned persons by persons owned or controlled by United States financial institutions

---
identifier: "/us/usc/t22/s9221c"
source: "usc"
legal_status: "official_prima_facie"
title: "22 USC § 9221c - Prohibition on transactions with certain sanctioned persons by persons owned or controlled by United States financial institutions"
title_number: 22
title_name: "FOREIGN RELATIONS AND INTERCOURSE"
section_number: "9221c"
section_name: "Prohibition on transactions with certain sanctioned persons by persons owned or controlled by United States financial institutions"
chapter_number: 99
chapter_name: "NORTH KOREA SANCTIONS AND POLICY ENHANCEMENT"
subchapter_number: "II"
subchapter_name: "SANCTIONS AGAINST NORTH KOREAN PROLIFERATION, HUMAN RIGHTS ABUSES, AND ILLICIT ACTIVITIES"
positive_law: false
currency: "119-84"
last_updated: "2026-03-26"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Pub. L. 114–122, title II, § 201C, as added Pub. L. 116–92, div. F, title LXXI, § 7121(a), Dec. 20, 2019, 133 Stat. 2246.)"
---


# § 9221c. Prohibition on transactions with certain sanctioned persons by persons owned or controlled by United States financial institutions

**(a)** **In general** Not later than 180 days after December 20, 2019, the Secretary of the Treasury, in consultation with the Secretary of State, shall prohibit an entity owned or controlled by a United States financial institution and established or maintained outside the United States from knowingly engaging in any transaction described in subsection (b) directly or indirectly with the Government of North Korea or any person designated for the imposition of sanctions with respect to North Korea under—

**(1)** subsection (a), (b), or (g) of section 9214 of this title;

**(2)** an applicable Executive order; or

**(3)** an applicable United Nations Security Council resolution.

**(b)** **Transactions described** 50 U.S.C. 1701

A transaction described in this subsection is a transaction that would be prohibited by an order or regulation issued pursuant to the International Emergency Economic Powers Act ( et seq.) if the transaction were engaged in in the United States or by a United States person.

**(c)** **Civil penalties** 50 U.S.C. 1705(b)

The civil penalty provided for in section 206(b) of the International Emergency Economic Powers Act () shall apply to a United States financial institution to the same extent that such penalty applies to a person that commits an unlawful act described in section 206(a) of that Act if an entity owned or controlled by the United States financial institution and established or maintained outside the United States violates, attempts to violate, conspires to violate, or causes a violation of any order or regulation issued to implement subsection (a).

**(d)** **United States financial institution defined** In this section, the term “United States financial institution” has the meaning given the term “U.S. financial institution” in section 510.328 of title 31, Code of Federal Regulations (or any corresponding similar regulation or ruling).

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**Source Credit**: (Pub. L. 114–122, title II, § 201C, as added Pub. L. 116–92, div. F, title LXXI, § 7121(a), Dec. 20, 2019, 133 Stat. 2246.)

## Editorial Notes

### References in Text

The International Emergency Economic Powers Act, referred to in subsec. (b), is title II of , , , which is classified generally to chapter 35 (§ 1701 et seq.) of Title 50, War and National Defense. For complete classification of this Act to the Code, see Short Title note set out under  and Tables.