; penalties (A) Implementation The President— (i) 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 section; and (ii) not later than 180 days after the date of the enactment of this Act, shall prescribe such regulations as necessary to carry out this Act. (B) Notification to Congress Not later than 10 days before the effective date of any regulation prescribed in accordance with subparagraph (A)(ii), the President shall brief the appropriate congressional committees on the proposed regulations and the provisions of this Act relating to such regulations. (C) Penalties A person that violates, attempts to violate, conspires to violate, or causes a violation of this section or any regulation, license, or order issued to carry out this section shall be subject to the penalties set forth in subsections (b) and (c) of section 206 of the International Emergency Economic Powers Act ( 50 U.S.C. 1705 ) to the same extent as a person that commits an unlawful act described in subsection (a) of that section. (c) Waivers (1) In general The President may waive the application of sanctions under this section for renewable periods not to exceed 180 days if the President— (A) determines that such a waiver is in the vital national security interests of the United States; and (B) not less than 15 days before the granting of the waiver, submits to the appropriate congressional committees a notice of and justification for the waiver. (2) Form The waiver described in paragraph (1) may be transmitted in classified form. (3) Special rule The President may waive the application of sanctions under this section with respect to a foreign person if the President certifies in writing to the appropriate congressional committees that the foreign person— (A) has ceased engaging in activities described in subsection (a)(2)