Section 1 Short title
This Act may be cited as the “Congressional Oversight of Russian Sanctions Act”.
Congressional Oversight of Russian Sanctions Act
A BILL
To provide for congressional oversight of certain sanctions imposed with respect to the Russian Federation.
Sec. 2 Congressional oversight of certain sanctions imposed with respect to the Russian Federation
In general— Not later than 60 days after receiving a request from the chairman and ranking member of one of the appropriate congressional committees with respect to whether a person, foreign person, or foreign financial institution, as the case may be, meets the criteria of a person described in a covered Executive order, the President shall—
determine if the person, foreign person, or foreign financial institution, as the case may be, meets such criteria; and
submit a classified or unclassified report to such chairman and ranking member with respect to such determination that includes a statement of whether or not the President imposed or intends to impose sanctions with respect to such person, foreign person, or foreign financial institution.
Definitions— In this section:
Appropriate congressional committees— The term appropriate congressional committees means—
the Committee on Foreign Affairs of the House of Representatives; and
the Committee on Foreign Relations of the Senate.
Covered Executive order— The term covered Executive order means—
Executive Order 14024 (86 Fed. Reg. 20249; relating to blocking property with respect to specified harmful foreign activities of the Government of the Russian Federation) or any directive issued pursuant to such Executive order; or
Executive Order 14039 (86 Fed. Reg. 47205; relating to blocking property with respect to certain Russian energy export pipelines) or any directive issued pursuant to such Executive order.