interests of the United States to do so and submits to the appropriate congressional committees a justification relating to such determination. 6. Targeted foreign financial sanctions (a) Halk Bankasi or Halkbank Not later than 15 days after the date of enactment of this Act, the President shall impose the sanctions described in section 14(1) with respect to Halk Bankası or Halkbank or any successor entity thereof. (b) Financial institutions (1) In general If the Secretary of State, in consultation with the Secretary of Defense, Secretary of Treasury, and Director of National Intelligence, determines that any foreign financial institution, in addition to the foreign financial institutions specified in subsection (a), has knowingly facilitated significant transactions for the Turkish Armed Forces or defense industry relating to Turkey’s military invasion of northern Syria on October 9, 2019, the President shall, not later than 60 days after any such determination, impose the sanctions described in section 14(1) with respect to any such foreign financial institution. (2) Waiver (A) In general The President may waive, on a case-by-case basis and for a period of not more than 90 days, the imposition of sanctions under this subsection if the President— (i) determines that— (I) it is vital to the national security interests of the United States to do so