Federation over Crimea, its airspace, or its territorial waters. (c) Waiver The President may waive the prohibition under subsection (a) or (b) if the President determines that it is vital to the national security interests of the United States to do so. 324. Imposition of sanctions with respect to certain Russian financial institutions (a) Findings Congress finds the following: (1) On February 27, 2014, the Russian Federation unlawfully invaded Crimea and shortly thereafter intervened and occupied parts of Ukraine. (2) Russia continues to flout the Minsk Accords, signed on September 5, 2014, by directly and indirectly supporting separatist forces in Ukraine. (3) Sanctions to date have failed to alter Russian President Vladimir Putin’s calculation regarding Ukraine and the Crimea. (4) The Putin regime relies on several large financial institutions to implement its policies and keep the regime afloat. (b) In general Not later than 60 days after the date of the enactment of this Act, and every 180 days thereafter for 5 years, the President shall determine whether the Russian Federation is in compliance with the Minsk Accords. (c) Imposition of sanctions (1) In general If the President, pursuant to subsection (b), determines that Russia is not in compliance with the Minsk Accords, the President shall impose the sanctions described in subsection (d) with respect to not less than three Russian financial institutions that are substantially affiliated with the Putin regime, including from among those institutions described in subsection (e). (2) Requirement One of the financial institutions to be sanctioned pursuant to this subsection shall include Vnesheconombank. (d) Sanctions described The sanctions described in this subsection are 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 financial institution determined by the President