Section 1 Short title
This Act may be cited as the “No Russia Exemptions for Oil Production Act” or the “No REX Act”.
No Russia Exemptions for Oil Production Act
A BILL
To prohibit licenses or other authorization for United States persons to engage in activities relating to deepwater, Arctic offshore, or shale projects that have the potential to produce oil in the Russian Federation, or in maritime area claimed by the Russian Federation, and for other purposes.
Sec. 2 Prohibition on licenses or other authorization for United States persons to engage in activities relating to certain projects to produce oil in the Russian Federation
In general— Effective as of the date of the enactment of this Act—
the Secretary of the Treasury, acting directly or through any specifically designated person, agency, or instrumentality, may not provide a license or other authorization pursuant to Directive 4 under Executive Order 13662 to engage in any of the activities prohibited under such Directive; and
any license or other authorization provided before such date of enactment by the Secretary of the Treasury, acting directly or through any specifically designated person, agency, or instrumentality, pursuant to Directive 4 under Executive Order 13662 to engage in any of the activities prohibited under such Directive shall have no force or effect.
Definition— In this section, the term “Directive 4 under Executive Order 13662” means Directive 4 of September 12, 2014, under Executive Order 13662 of March 20, 2014 (79 Fed. Reg. 16169; relating to Blocking Property of Additional Persons Contributing to the Situation in Ukraine) or any successor Directive or other Executive action.