States financial institution The term United States financial institution has the meaning given the term U.S. financial institution under section 561.309 of title 31, Code of Federal Regulations. (B) Government of Iran The term Government of Iran has the meaning given that term under section 560.304 of title 31, Code of Federal Regulations. (b) Waiver (1) In general The President may waive the requirements of subsection (a) with respect to a license authorizing financial services after issuing a report reporting to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate stating that— (A) the financial services are required solely for the provision of medicines, medical equipment, agricultural commodities, or humanitarian assistance benefitting the people of Iran