To impose sanctions with respect to Turkey's acquisition of the S-400 air and missile defense system.

This bill directs the President to impose sanctions on Turkey due to Turkey's acquisition of the S-400 air and missile defense system from Russia.

The President shall impose five or more specified sanctions, such as prohibiting (1) Export-Import Bank assistance in connection with export of goods to Turkey, (2) the issuance of a specific license for exporting certain goods or technologies to Turkey, or (3) U.S. financial institutions from making loans of a certain size to Turkey.

The President may terminate such sanctions if Turkey (1) no longer possesses or operates the S-400 system, and (2) makes reliable assurances that it will no longer engage in activities subject to certain U.S. sanctions.