This bill would create a wide set of sanctions, trade limits, and other measures focused on the Russian Federation. It requires the President to identify and block property of many Russian officials, vessels, entities, and financial institutions. The bill directs sanctions on major Russian banks (including the Central Bank of Russia, Sberbank, VTB, and Gazprombank), and on foreign persons and vessels that support or help Russia evade sanctions. It would ban new U.S. investment in Russia, prohibit U.S. purchases of Russian sovereign debt, and prohibit exports of U.S. energy products to Russia and new investment in Russia's energy sector. The bill directs the Securities and Exchange Commission to prohibit trading of securities of issuers affiliated with the Russian government on U.S. national exchanges. It seeks limits on international financial messaging services that enable sanctions evasion and directs action on imports of uranium from Russia and leaders of Rosatom. The bill would raise import duties on goods from Russia (up to 500% ad valorem) and allow duties (up to 100% ad valorem) on goods from countries that purchase Russian-origin oil or gas or facilitate sanctions evasion. The bill includes many exceptions (for humanitarian aid, intelligence and law enforcement activities, certain nuclear cooperation, safety of vessels and crew, NASA activities, wind-down operations, and existing general licenses). It authorizes waivers by the President with required reports to Congress and establishes a process for terminating sanctions that includes certification and congressional review. Title II extends the Iran Sanctions Act of 1996 through 2031. The Act (except the Iran extension) would sunset 5 years after enactment.
No publicly available information on estimated costs or budgetary effects is included in the bill text. The bill directs executive branch actions but does not provide specific budget numbers or cost estimates.
No publicly available information.
No publicly available information.