; or (2) the President determines is owned, controlled, directed by, supplying or sourcing precursors for, or acting for or on behalf of, such a foreign opioid trafficker. 104. Description of sanctions (a) In general The sanctions that may be imposed with respect to a foreign person under section 103 are the following: (1) Loans from United States financial institutions The United States Government may prohibit any United States financial institution from making loans or providing credits to the foreign person. (2) Prohibitions on financial institutions The following prohibitions may be imposed with respect to a foreign person that is a financial institution: (A) Prohibition on designation as primary dealer Neither the Board of Governors of the Federal Reserve System nor the Federal Reserve Bank of New York may designate, or permit the continuation of any prior designation of, the financial institution as a primary dealer in United States Government debt instruments. (B) Prohibition on service as a repository of government funds The financial institution may not serve as agent of the United States Government or serve as repository for United States Government funds. The imposition of either sanction under subparagraph (A) or (B) shall be treated as one sanction for purposes of section 103, and the imposition of both such sanctions shall be treated as 2 sanctions for purposes of that section. (3) Procurement ban The United States Government may not procure, or enter into any contract for the procurement of, any goods or services from the foreign person. (4) Foreign exchange The President may, pursuant to such regulations as the President may prescribe, prohibit any transactions in foreign exchange that are subject to the jurisdiction of the United States and in which the foreign person has any interest. (5) Banking transactions The President may, pursuant to such regulations as the President may prescribe, prohibit any transfers of credit or payments between financial institutions or by, through, or to any