; penalties; termination (a) Implementation The President may exercise all authorities provided to the President under sections 203 and 205 of the International Emergency Economic Powers Act ( 50 U.S.C. 1702 and 1704) to carry out this Act. (b) Penalties A person that violates, attempts to violate, conspires to violate, or causes a violation of section 4 or 5, or any regulation, license, or order issued to carry out such sections, shall be subject to the penalties set forth in subsections (b) and (c) of section 206 of the International Emergency Economic Powers Act ( 50 U.S.C. 1705 ) to the same extent as a person that commits an unlawful act described in subsection (a) of that section. (c) Termination (1) In general The President may terminate the application of a sanction under section 4 or section 5(a)(2) if the President submits to Congress a determination that officers, employees, and agents of the Government of Russia no longer engage in the conduct described in section 4(a)(2) . (2) Waiver The President may, on or after the date on which the President submits the determination described in paragraph (1) , waive the prohibition imposed pursuant to section 5(a)(1) with respect to Russian sovereign debt (as defined in such section) issued on or after such date if the President concurrently submits to Congress a notification that includes a justification of the basis for waiving such prohibition. 7. United States person defined In this Act, the term United States person means— (1) a United States citizen or an alien lawfully admitted for permanent residence to the United States; and (2) an entity organized under the laws of the United States or of any jurisdiction within the United States, including a foreign branch of such an entity.