; or (B) has taken and is continuing to take significant verifiable steps toward terminating activities or transactions subject to sanctions under this section; and (2) the President has received reliable assurances from the foreign person or agency or instrumentality (as the case may be) that it will not carry out any activities or transactions subject to sanctions under this section in the future. (g) Waiver (1) In general The President may waive, on a case-by-case basis and for a period of not more than 180 days, a requirement under this section to impose or maintain sanctions with respect to a foreign person or agency or instrumentality of a foreign state if the President— (A) determines that the waiver is in the national security interest of the United States; and (B) not less than 30 days before the waiver takes effect, submits to the appropriate congressional committees a report on the waiver and the justification for the waiver. (2) Renewal of waiver The President may, on a case-by-case basis, renew a waiver under paragraph (1) for additional periods of not more than 180 days if the President— (A) determines that the renewal of the waiver is in the national security interest of the United States