Report and imposition of sanctions with respect to foreign financial institutions conducting significant transactions with persons responsible for or complicit in abuses toward dissidents on behalf of the Government of Iran

Not earlier than 30 days and not later than 60 days after the Secretary of State submits to the appropriate congressional committees a report required by section 8563(a) of this title, the Secretary of the Treasury, in consultation with the Secretary of State, shall submit to the appropriate congressional committees a report that identifies any foreign financial institution that knowingly conducts a significant transaction with a foreign person identified in the report submitted under section 8563(a) of this title on or after the date on which the foreign person is identified in that report. The Secretary of the Treasury may prohibit the opening, or prohibit or impose strict conditions on the maintaining, in the United States of a correspondent account or a payable-through account by a foreign financial institution identified under subsection (a).