; (2) materially assists, sponsors, or provides financial, material, or technological support for, or goods or services to, a foreign person described in paragraph (1); or (3) is owned or controlled by, or acts or purports to act for or on behalf of, directly or indirectly, a foreign person described in paragraph (1). (b) Sanctions described (1) Asset blocking The exercise of all powers granted to the President by the International Emergency Economic Powers Act ( 50 U.S.C. 1701 et seq.) to the extent necessary to block and prohibit all transactions in all property and interests in property of a person determined by the President to be subject to subsection (a) if such property and interests in property are in the United States, come within the United States, or are or come within the possession or control of a United States person. (2) Exclusion from the United States and revocation of visa or other documentation In the case of an alien determined by the President to be subject to subsection (a), denial of a visa to, and exclusion from the United States of, the alien, and revocation in accordance with section 221(i) of the Immigration and Nationality Act ( 8 U.S.C. 1201(i) ), of any visa or other documentation of the alien. (c) Application of new sanctions The President may waive the initial application of sanctions under subsection (b) with respect to a person only if the President submits to the appropriate congressional committees— (1) a written determination that the waiver— (A) is in the vital national security interests of the United States; or (B) will further the enforcement of this Act; and (2) a certification that the Government of the Russian Federation has made efforts to reduce serious human rights abuses in territory forcibly occupied or otherwise controlled by that Government. (d) Implementation