; (B) such United States persons engage in transactions described in subsection (a) involving Russian sovereign debt that is issued during the period of time in which the suspension is in effect; and (C) such United States persons are subject to the application of any prohibition on United States persons from engaging in transactions described in subsection (a) after such period of time in which the suspension is in effect, such United States persons may not be subject to any prohibition on United States persons from engaging in transactions described in subsection (a) with respect to engaging in transactions involving Russian sovereign debt described in subparagraph (B). (3) Time period described The period of time described in this paragraph is the period— (A) beginning after the 60-day period described in paragraph (1)(B); and (B) ending on or before the date that is 60 days after the date of the next regularly scheduled general election for Federal office. (d) Waiver authority The President may waive the application of any prohibition on United States persons from engaging in transactions described in subsection (a) if— (1) the President— (A) determines that the waiver is in the vital national security interests of the United States; and (B) submits to the appropriate congressional committees and leadership a report that contains the determination of the President under subparagraph (A)