; and (B) a list of foreign countries that are designated as a democratic or emerging democratic partner of the United States for purposes of subsection (a)(3) that includes the countries listed in paragraph (2). (2) Initial designations Sweden, Switzerland, Israel, India, and Taiwan shall be deemed to have been so designated as a democratic or emerging democratic partner of the United States for purposes of subsection (a)(3). (3) Updates The President shall submit to the appropriate congressional committees an updated list under subparagraph (A) on a periodic basis. 202. Sanction described (a) In general The sanction described in this section is the exercise of all powers granted to the President by the International Emergency Economic Powers Act ( 50 U.S.C. 1701 et seq. ) (except that the requirements of section 202 of such Act ( 50 U.S.C. 1701 ) shall not apply) to the extent necessary to block and prohibit all transactions in all property and interests in property of any foreign person or an agency or instrumentality of a foreign state, as the case may be, if such property and interests in property are in the United States, come within the United States, or are or come within the possession or control of a United States person. (b) Implementation The President may exercise all authorities provided under sections 203 and 205 of the International Emergency Economic Powers Act (50 U.S.C. 1702 and 1704) to carry out this title. (c) Regulations (1) In general The President shall prescribe such regulations as may be necessary for the implementation of this title. (2) Prior briefing required Not later than 10 days before the prescription of regulations under paragraph (1), the President shall brief the appropriate congressional committees regarding the proposed regulations and the provisions of this title that such regulations are implementing. (d) Penalties A person that violates, attempts to violate, or causes a violation of any sanction authorized by this title, or any regulation, license, or order issued to