; 50 U.S.C. 1701 note) with respect to a person that knowingly, on or after the date that is 120 days after the date of the enactment of the Iran Nonnuclear Sanctions Act of 2017 , sells, supplies, or transfers goods or services to an individual who is on the list required by section 221(a). (b) Facilitation of certain transactions The President shall prohibit the opening, and prohibit or impose strict conditions on the maintaining, in the United States of a correspondent account or a payable-through account by any foreign financial institution that has knowingly conducted or facilitated a significant financial transaction on behalf of an individual who is on the list required by section 221(a). (c) Waiver (1) In general The President may waive the application of subsection (a) or (b) with respect to a person for a period of 180 days, and may renew that waiver for additional periods of 180 days, if the President— (A) determines that the waiver is vital to the national security of the United States; and (B) not less than 7 days before the waiver or the renewal of the waiver, as the case may be, takes effect, submits a report to the appropriate congressional committees on the waiver and the reason for the waiver. (2) Limitation on waiver authority The President may not exercise the waiver authority provided under paragraph (1) to implement any international agreement with Iran unless, before exercising the waiver authority, the agreement is approved through the enactment of a joint resolution or the Senate provides its advice and consent with respect to the agreement pursuant to section 2 of article II of the Constitution of the United States. (3) Form of report Each report submitted under paragraph (1)(B) shall be submitted in unclassified form, but may include a classified annex if necessary. (d) Application of certain provisions of the Iran Sanctions Act of 1996 The following provisions of the Iran Sanctions Act of 1996 ( Public Law 104–172