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Title III — Sanctions and export controls

H.R. 2913 · 119th Congress · Jun 8, 2026 · Lineage

III Sanctions and export controls

Sec. 301 Sanctions trigger determination

Not later than 15 days after the date of enactment of this Act, and at minimum every 90 days thereafter, the President shall make a determination as to whether the Russian Federation or any proxy thereof, is engaged in—
(1)
conducting a war of aggression against Ukraine; or
(2)
refusing to sincerely and actually negotiate a peace agreement with Ukraine; or
(3)
acting in violation of a negotiated peace agreement with Ukraine.

Sec. 302 Imposition of sanctions with respect to Russian financial institutions

(a)
Imposition of sanctions—
(1)
In general— Upon making an affirmative determination under section 301 and not later than 15 days following such a determination, the President shall impose the sanctions described in section 317 with respect to 3 or more of the following financial institutions:
(A)
Sberbank.
(B)
VTB.
(C)
Gazprombank.
(D)
VEB.RF.
(E)
The Russian Direct Investment Fund.
(F)
Credit Bank of Moscow.
(G)
Alfa Bank.
(H)
Rosselkhozbank.
(I)
FC Bank Otkritie.
(J)
Promsvyazbank.
(K)
Sovcombank.
(L)
Transkapitalbank.
(M)
The Central Bank of the Russian Federation.
(2)
Subsidiaries and successor entities— The President may impose the sanctions described in section 310(a)(1) with respect to any subsidiary of, or successor entity to, a financial institution specified in paragraph (1).
(b)
Additional russian financial institutions—
(1)
List required— Not later than 30 days after making an affirmative determination under section 301, and every 90 days thereafter, the President shall submit to the appropriate committees of Congress a list of foreign persons that the President determines—
(A)
are significant financial institutions owned or operated by the Government of the Russian Federation; and
(B)
should be sanctioned in the interest of United States national security.
(2)
Imposition of sanctions— Upon the submission of each list required by paragraph (1), the President shall impose the sanctions described in section 310(a)(1) with respect to each foreign person identified on the list.

Sec. 303 Impositions of sanctions with respect to Russian oil and mining industry

Upon making an affirmative determination under section 301 and not later than 15 days following such a determination, the President shall impose the sanctions described in section 317 with respect to all Russian companies operating primarily in any of the following sectors:
(1)
Oil and gas extraction, refinement, or production.
(2)
Coal extraction mining, refinement, or production.
(3)
Mineral extraction and processing.

Sec. 304 Imposition of sanctions on certain persons affiliated with or supporting the Government of the Russian Federation

(a)
In general— Upon making an affirmative determination under section 301 and not later than 15 days following such a determination, the President shall impose the sanctions described in section 317 with respect to all individuals listed under subsection (b) or included in the additional lists under subsection (c).
(b)
Officials specified— The officials specified in this subsection are the following:
(1)
The President of the Russian Federation.
(2)
The Prime Minister of the Russian Federation.
(3)
The Foreign Minister of the Russian Federation.
(4)
The Minister of Defense of the Russian Federation.
(5)
The Minister of Transport of the Russian Federation.
(6)
The Minister of Energy of the Russian Federation.
(7)
The Minister of Finance of the Russian Federation.
(8)
The Minister of Energy and Trade of the Russian Federation.
(9)
The Deputy Minister of Defense of the Russian Federation.
(10)
The Deputy Foreign Minister of the Russian Federation.
(11)
The Deputy Minister of Transport of the Russian Federation.
(12)
The Deputy Energy Minister of the Russian Federation.
(13)
The Deputy Finance Minister of the Russian Federation.
(14)
The Deputy Minister of Industry and Trade of the Russian Federation.
(15)
The Chief of the General Staff of the Armed Forces of the Russian Federation.
(16)
The Commander-in-Chief of the Land Forces of the Russian Federation.
(17)
The Commander-in-Chief of the Aerospace Forces of the Russian Federation.
(18)
The Commander of the Airborne Forces of the Russian Federation.
(19)
The Commander-in-Chief of the Navy of the Russian Federation.
(20)
The Commander of the Strategic Rocket Forces of the Russian Federation.
(21)
The Commander of the Special Operations Forces of the Russian Federation.
(22)
The Commander of Logistical Support of the Armed Forces of the Russian Federation.
(c)
Additional officials—
(1)
List required— Not later than 30 days after making an affirmative determination under section 301 and every 90 days thereafter, the President shall submit to the appropriate committees of Congress a list of foreign persons that the President determines—
(A)
are—
(i)
senior officials of any branch of the Armed Forces of the Russian Federation leading any of the operations described in section 302; or
(ii)
senior officials of the Government of the Russian Federation, including any intelligence agencies or security services of the Russian Federation, with significant roles in planning or implementing such operations; and
(B)
with respect to which sanctions should be imposed in the interest of the national security of the United States.
(2)
Imposition of sanctions— Upon the submission of each list required by paragraph (1), the President shall impose the sanctions described in section 310 with respect to each foreign person on the list.

Sec. 305 Crimea tunnel sanctions

(a)
Findings— Congress makes the following findings:
(1)
In February and March 2014, the Russian Federation invaded the Crimean peninsula and annexed Crimea, internationally recognized as Ukrainian territory.
(2)
Following its annexation of Crimea, the Russian Federation constructed the Kerch Strait Bridge to connect the Russian mainland with the Crimean peninsula.
(3)
On February 24, 2022, the Government of the Russian Federation, led by Vladimir Putin, launched an unprovoked, full-scale invasion of Ukraine.
(4)
The Russian Federation has used Crimea as an integral part of its full scale invasion of Ukraine, including to house Russian troops, store ammunition and weapons, and host the Black Sea Fleet.
(5)
In October 2023, it was publicly reported that Russian and Chinese business officials met and exchanged emails to discuss building a tunnel from the Russian mainland to illegally occupied Crimea.
(b)
Imposition of sanctions— Upon making an affirmative determination under section 301 and not later than 15 days following such a determination, the President shall impose the sanctions described in section 317 with respect to all foreign persons that knowingly participate in the construction, maintenance, or repair of a tunnel or bridge that connects the Russian mainland with the Crimean peninsula.

Sec. 306 Zaporizhzhia nuclear power plant sanctions

(a)
In general— Upon making an affirmative determination under section 301 and not later than 15 days following such a determination, the President shall impose the sanctions described in section 317 with respect to all foreign persons that have endangered the integrity, safety, or undermined Ukrainian operational control of the Zaporizhzhia Nuclear Power Station located in southeastern Ukraine since the Russian Federation launched an unprovoked, full-scale invasion of Ukraine.
(b)
Exception related to ukrainian operational control— Sanctions under this section shall not apply to any foreign person seeking to reestablish Ukrainian operational control of the Zaporizhzhia Nuclear Power Station or the surrounding region.

Sec. 307 Rosatom sanctions

(a)
In general— Upon making an affirmative determination under section 301 and not later than 15 days following such a determination, the President shall impose the sanctions described in section 317 with respect to—
(1)
Rosatom;
(2)
Rosatom subsidiaries; and
(3)
a foreign person that knowingly directly or indirectly engages in any significant transaction for nuclear reactor construction and related services with Rosatom.
(b)
Waiver— The President may waive the application of sanctions for a transaction or transactions with a United States person, a foreign person, or a foreign financial institution (as the case may be) described under this section if—
(1)
the President determines that the transaction relates to activities necessary to the production of medical isotopes or industrial isotopes; and
(2)
the President certifies to the appropriate congressional committees that—
(A)
domestic medical isotope or industrial isotope production is insufficient to meet United States patient and industry requirements; and
(B)
the United States is taking measurable steps to establish medical isotope or industrial isotope supply chains that are not reliant on Rosatom or other Russian source material.

Sec. 308 Imposition of price cap vessel sanctions

(a)
In general— Upon making an affirmative determination under section 301 and not later than 15 days following such a determination, the President shall impose the sanctions described in section 317 with respect to any foreign vessel that knowingly transports Russian oil in contravention of the Russian oil price cap policy.
(b)
Exception for safety of vessels and crew— Sanctions under this section shall not apply with respect to a person providing provisions to a vessel otherwise subject to sanctions under this section if such provisions are intended for the safety and care of the crew aboard the vessel, the protection of human life aboard the vessel, or the maintenance of the vessel to avoid any environmental or other significant damage.
(c)
Strategy— Not later than 60 days after the date of enactment of this Act, the Secretary of State and the Secretary of the Treasury shall jointly submit to the Committee on Foreign Affairs of the House of Representatives and the Committee on Foreign Relations of the Senate a strategy to enhance international compliance with the Russian oil price cap policy.
(d)
Matters— The strategy under subsection (a) shall include—
(1)
an overview of general international compliance with the Russian oil price cap policy;
(2)
a list of the countries known to have purchased significant quantities of Russian oil at prices above the price agreed to in the Russian oil price cap policy set forth by the Group of Seven (“G7”) nations;
(3)
any known methods used by such countries to avoid detection of their purchases of Russian oil at prices above the price agreed to in the Russian oil price cap policy;
(4)
an assessment of possible incentives the United States could provide to countries listed pursuant to paragraph (2) to encourage compliance with the Russian oil price cap policy;
(5)
an assessment of whether the imposition of additional sanctions, including possible secondary sanctions, would enhance international compliance with the Russian oil price cap policy;
(6)
a description of the views of the government of each country participating in the Russian oil price cap policy regarding whether the price cap under such policy should be lowered or not; and
(7)
a description of the United States diplomatic engagement with the government of each country participating in the Russian oil price cap policy regarding the appropriateness of the current cap, including any diplomatic engagement intended to encourage support for the lowering of the price cap.

Sec. 309 SWIFT sanctions

(a)
In general— Upon making an affirmative determination under section 301 and not later than 15 days following such a determination, the President shall impose the sanctions described in section 317 with respect to any global communication financial service that does not cease the provision of financial communication messaging services to any financial institution listed under section 302 of this Act.
(b)
Enabling or facilitation of access to specialized financial messaging services through intermediary financial institutions— For purposes of this section, enabling or facilitating direct or indirect access to specialized financial messaging services includes doing so by serving as an intermediary financial institution with access to such messaging services.

Sec. 310 Russian sovereign debt sanctions

Upon making an affirmative determination under section 302 and not later than 30 days following such a determination, the President shall prohibit all transactions by United States persons involving the sovereign debt of the Government of the Russian Federation issued on or after the date of the enactment of this Act, including governmental bonds.

Sec. 311 Imposition of sanctions on Russia-North Korea cooperation

(a)
In general— Upon making an affirmative determination under section 301 and not later than 15 days following such a determination, the President shall impose the sanctions described in section 317 with respect to the following:
(1)
Any foreign person that is responsible for or facilitates the transfer or sale of arms or material support from North Korea to be used in Russia’s illegal war in Ukraine.
(2)
Any foreign person that knowingly, directly or indirectly, imports, exports, or reexports to, into, or from North Korea any goods services or technology for weapons that may be used by Russian forces or their proxies in Russia’s illegal war in Ukraine.
(3)
Any foreign financial institution that knowingly facilitates a significant transaction or provides significant financial services for a foreign person described in paragraph (1) or (2).
(4)
Any foreign person that engages in a significant transaction related to the transfer or sale of arms or material support with a foreign person described in paragraph (1) or (2) or foreign financial institution described in paragraph (3).
(5)
Any foreign person assisting in the logistical supply and movement of North Korean personnel, arms or material support to be used in Russia’s illegal war in Ukraine.
(b)
Report— Not later than 90 days after the date of the enactment of this Act, and every 180 days thereafter, the President shall submit to the appropriate congressional committees a report that describes significant activities by the Democratic People’s Republic of Korea to support the Russian Federation and its proxies in Russia’s illegal war in Ukraine.
(c)
Matters To be included— The report required by this section shall include the following:
(1)
The number of North Korean troops that have been sent to fight Ukraine, casualties inflicted on these troops, and the impact on the battlefield of having North Korean military personnel on the frontlines.
(2)
The identity and nationality of foreign persons and foreign financial institutions that are subject to sanctions under section 317.
(3)
A description of the conduct engaged in by such persons and institutions.
(4)
An assessment of the extent to which a foreign government has provided material support to the Government of North Korea or any person acting for or on behalf of that government to conduct significant activities to materially support Russia’s illegal war in Ukraine.
(5)
A United States strategy to counter North Korea’s efforts to conduct significant activities to support Russia’s war in Ukraine, that includes efforts to engage foreign governments to halt the capability of the Government of North Korea and persons acting for or on behalf of that government to conduct significant activities supporting Russia’s illegal war in Ukraine.
(d)
Form— The report required by this section shall be submitted in unclassified form, but may include a classified annex.

Sec. 312 Sanctions for kidnapping Ukrainian children

Upon making an affirmative determination under section 301 and not later than 15 days following such a determination, the President shall impose the sanctions described in section 317 with respect to all foreign persons that have directed or in anyway participated in the kidnapping and wrongful patriation of Ukrainian children.

Sec. 313 Imposition of dual-use export controls

(a)
In general— Upon making an affirmative determination under section 301, a foreign-produced item shall be subject to the Export Administration Regulations (pursuant to the Export Control Reform Act of 2018 (50 U.S.C. 4801 et seq.)) if the item—
(1)
meets—
(A)
the product scope requirements described in subsection (b); and
(B)
the destination scope requirements described in subsection (c); and
(2)
is exported, reexported, or in-country transferred to the Russia Federation from abroad or involves the Government of the Russian Federation.
(b)
Product scope requirements— A foreign-produced item meets the product scope requirements of this subsection if the item—
(1)
is a direct product of United States-origin technology or software subject to the Export Administration Regulations that is specified in a covered Export Control Classification Number; or
(2)
is produced by any plant or major component of a plant that is located outside the United States, if the plant or major component of a plant, whether made in the United States or a foreign country, itself is a direct product of United States-origin technology or software subject to the Export Administration Regulations that is specified in a covered Export Control Classification Number.
(c)
Destination scope requirements— A foreign-produced item meets the destination scope requirements of this subsection if there is knowledge that the foreign-produced item is destined to the Russian Federation or will be incorporated into or used in the production or development of any part, component, or equipment subject to the Export Administration Regulations and produced in or destined to the Russian Federation.
(d)
Licensing policy— In carrying out this section, the Secretary of Commerce shall apply a presumption that an export, reexport, release, or in-country transfer of items meets the product scope requirements set forth in subsection (b) and the destination scope requirements set forth in subsection (c).
(e)
Exceptions— The license requirements set forth in this section shall not apply to—
(1)
food, medicine, or medical devices that are—
(A)
designated as EAR99; or
(B)
not designated under or listed on the Commerce Control List; or
(2)
services, software, or hardware (other than services, software, or hardware for end-users owned or controlled by the Government of Iran) that are—
(A)
necessarily and ordinarily incident to communications; or
(B)
designated as—
(i)
EAR99; or
(ii)
Export Control Classification Number 5A992.c or 5D992.c, and classified in accordance with section 740.17 of title 15, Code of Federal Regulations; and
(C)
subject to a general license issued by the Department of Commerce or Department of Treasury.
(f)
Department of commerce strategy—
(1)
Strategy required— Not later than 60 days after the date of the enactment of this Act, the Secretary of Commerce (in consultation with the Secretary of State, the Secretary of Defense, and the Director of National Intelligence) shall develop a strategy to prevent the illegal export to Iran by United States persons regarding technologies used or that may be used in the design, development, production, or operational employment of unmanned aircraft systems by Iran, including the following microelectronics:
(A)
Microcontrollers.
(B)
Voltage regulators.
(C)
Digital signal controllers.
(D)
GPS modules.
(E)
Microprocessors.
(2)
Elements— The strategy under paragraph (1) shall include, at a minimum, the following elements:
(A)
A process for the Secretary of Commerce (in coordination with the Secretaries and heads specified in paragraph (1)) to proactively identify—
(i)
current and emerging technologies used or that may be used by Iran in the design, development, production, or operational employment of unmanned aircraft systems (including critical components thereof);
(ii)
United States manufacturers of such technologies; and
(iii)
foreign manufacturers and proliferators of such technologies.
(B)
A process for the Secretary of Commerce (in coordination with the Secretaries and heads specified in paragraph (1)) to proactively identify third-party distributors and resellers of the technologies specified in subparagraph (A)(i) that, through the use of intermediaries with no or nominal operations or assets, or through other mechanisms, contrive to circumvent export controls for such items with respect to Iran.
(C)
A methodology for the Secretary of Commerce to proactively engage the United States manufacturers identified pursuant to the process under subparagraph (A)(ii), to provide such manufacturers with timely updates to the list of third-party distributors and resellers identified pursuant to the process under subparagraph (B).
(3)
Submission— Not later than 60 days after the date of the enactment of this Act, the Secretary of Commerce shall submit to the appropriate congressional committees the strategy under paragraph (1).
(4)
Form— The report required by subsection (a)(1) shall be submitted in unclassified form, but portions of the report described in paragraphs (1) and (2) may contain a classified annex, so long as such annex is provided separately from the unclassified report.
(g)
Department of state strategy—
(1)
Strategy required— The Secretary of State (in coordination with the Secretary of Commerce, the Secretary of Defense, and the Director of National Intelligence) shall develop a strategy to prevent the export to Iran of technologies from the United States and allied and partner countries which are used, or may be used, by Iran in the design, development, production, or operational employment of unmanned aircraft systems (including the microelectronics listed in subparagraphs (A) through (F) of subsection (a)(1)).
(2)
Elements— The strategy under paragraph (1) shall include, at a minimum, the following elements:
(A)
A process for the Secretary of State (in consultation with the relevant Secretaries and heads specified in paragraph (1)) to proactively identify foreign manufacturers of the technologies referred to in such paragraph.
(B)
A process for the Secretary of State to engage with any ally or partner of the United States regarding technologies which have been incorporated into an unmanned aircraft system produced by Iran, for the purpose of synchronizing the export control regime of such ally or partner with the United States export controls developed by the Secretary of Commerce pursuant to the strategy under subsection (a) with respect to such technology.
(3)
Submission— Not later than 90 days after the date of the enactment of this Act, the Secretary of State shall submit to the appropriate congressional committees the strategy under paragraph (1).
(4)
Form— The report required by subsection (b)(1) shall be submitted in unclassified form, but portions of the report described in paragraphs (1) and (2) may contain a classified annex, so long as such annex is provided separately from the unclassified report.
(h)
Requirement for secretary of defense To develop range of options—
(1)
In general— Not later than 30 days after the date of the enactment of this Act, the Secretary of Defense (in coordination with the Secretary of State and the Director of National Intelligence) shall develop a range of options that may be employed by the Armed Forces of the United States to counter or otherwise deny Iran the ability to acquire technologies used, or that may be used, in the design, development, production, or operational employment of unmanned aircraft systems by Iran, including the following technologies:
(A)
Microcontrollers.
(B)
Voltage regulators.
(C)
Digital signal controllers.
(D)
GPS modules.
(E)
Microprocessors.
(F)
Computer Aided Design (CAD) software.
(G)
Computer numerical control machines.
(2)
Briefing— Not later than 45 days after the date of the enactment of this Act, the Secretary of Defense shall provide to the appropriate congressional committees a briefing on the options developed under paragraph (1).

Sec. 314 Duties on the Russian Federation

(a)
In general— Not later than 15 days after making an affirmative determination under section 301, the President shall, notwithstanding any other provision of law, increase the rate of duty for all goods and services imported into the United States from the Russian Federation to a rate of not less 500 percent ad valorem.
(b)
Report— Not later than 60 days after making an affirmative determination under section 301, the President shall submit to the Committee on Ways and Means of the House of Representatives and the Committee on Finance of the Senate, a report indicating the impact of these ad valorem tariffs on exports to the United States.

Sec. 315 Ending Russian oil import loophole

(a)
In general— The Ending Importation of Russian Oil Act (Public Law 117–109; 136 Stat. 1154) is amended—
(1)
by redesignating section 3 as section 4; and
(2)
by inserting after section 2 the following:

“3. Prohibition on importation of energy products produced at refineries outside the Russian Federation

“All products classified under chapter 27 of the Harmonized Tariff Schedule that were produced at any refinery that uses crude oil originating in the Russian Federation shall be banned from importation into the United States.”

(b)
Conforming amendments— Section 4 of the Ending Importation of Russian Oil Act (Public Law 117–109; 136 Stat. 1154), as redesignated by subsection (a)(1), is amended—
(1)
in subsection (a), by inserting “or 3” after “section 2”; and
(2)
in subsection (c)(1), by inserting “or 3” after “section 2”.

Sec. 316 Taxing capital gains on Russian sovereign assets

(a)
In general— Not later than 15 days after making an affirmative determination under section 301, notwithstanding any other provision of law, there is hereby imposed for each taxable year on the disqualified income of any specified foreign government a tax equal to 100 percent thereof.
(b)
Withholding—
(1)
In general— Notwithstanding section 203 of the International Emergency Economic Powers Act (or any other provision of law), any person having control, receipt, custody, disposal, or payment of disqualified income with respect to which tax is imposed under subsection (a) shall deduct and withhold from such income a tax equal to 100 percent thereof.
(2)
Application of certain rules— For purposes of subchapter B of chapter 3, section 33, and such other provisions as the Secretary may provide, paragraph (1) shall be treated as part of subchapter A of chapter 3.
(c)
Definitions— For purposes of this section:
(1)
Disqualified income— The term disqualified income means any interest or dividends payable with respect to assets which are blocked using the authorities provided by section 203 of the International Emergency Economic Powers Act.
(2)
Specified foreign government— The term specified foreign government means the foreign governments (within the meaning of section 892 of the Internal Revenue Code of 1986 and the regulations issued thereunder) of Russia and Belarus.
(d)
Override of treaty obligations— Notwithstanding any other provision of law, this section (and the amendments made by this section) shall apply without regard to any treaty obligation of the United States.
(e)
Effective date— The amendments made by this section shall apply to interest and dividends received after the date of the enactment of this Act.

Sec. 317 Sanctions described

The sanctions described in this section are the following:
(1)
Property blocking— The President shall exercise all of the powers granted by the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) to the extent necessary to block and prohibit all transactions in all property and interests in property of the foreign person if such property and interests in property are in the United States, come within the United States, or are or come within the possession or control of a United States person.
(2)
Aliens inadmissible for visas, admission, or parole—
(A)
Visas, admission, or parole— In the case of an alien, the alien is—
(i)
inadmissible to the United States;
(ii)
ineligible to receive a visa or other documentation to enter the United States; and
(iii)
otherwise ineligible to be admitted or paroled into the United States or to receive any other benefit under the Immigration and Nationality Act (8 U.S.C. 1101 et seq.).
(B)
Current visas revoked—
(i)
In general— The visa or other entry documentation of an alien described in subparagraph (A) shall be revoked, regardless of when such visa or other entry documentation is or was issued.
(ii)
Immediate effect— A revocation under clause (i) shall—
(I)
take effect immediately; and
(II)
automatically cancel any other valid visa or entry documentation that is in the alien’s possession.
(3)
Loans from international financial institutions— The President shall direct the United States Executive Director of each international financial institution to use the voice, vote, and influence of the United States to oppose any loan, loan guarantee, or equity investment from the international financial institution that would directly or indirectly benefit the sanctioned foreign person.

Sec. 318 Implementation; regulations; penalties

(a)
Implementation— The President may exercise all authorities provided to the President under sections 203 and 205 of the International Emergency Economic Powers Act (50 U.S.C. 1702 and 1704) to carry out this title.
(b)
Regulations— The President shall issue such regulations, licenses, and orders as are necessary to carry out this title.
(c)
Penalties— A person that violates, attempts to violate, conspires to violate, or causes a violation of this Act or any regulation, license, or order issued to carry out this title shall be subject to the penalties set forth in subsections (b) and (c) of section 206 of the International Emergency Economic Powers Act (50 U.S.C. 1705(b) and 1705(c)).

Sec. 319 Exceptions; waiver

(a)
Exceptions—
(1)
Exception to comply with international obligations— Sanctions described in section 317(2) shall not apply with respect to the admission of an alien if admitting or paroling the alien into the United States is necessary to permit the United States to comply with the Agreement regarding the Headquarters of the United Nations, signed at Lake Success June 26, 1947, and entered into force November 21, 1947, between the United Nations and the United States, or other applicable international obligations.
(2)
Exception relating to the provision of humanitarian assistance— Sanctions under this title may not be imposed with respect to transactions or the facilitation of transactions for—
(A)
the sale of agricultural commodities, food, medicine, or medical devices; or
(B)
the provision of humanitarian assistance; or
(C)
financial transactions relating to humanitarian assistance;
(3)
Exception for intelligence, law enforcement, and national security activities— Sanctions under this title shall not apply to any authorized intelligence, law enforcement, or national security activities of the United States.
(b)
National security waiver— The President may waive the imposition of sanctions under this title with respect to a person if the President—
(1)
determines that such a waiver is in the extraordinarily vital to the national security of the United States; and
(2)
submits to the appropriate committees of Congress a notification of the waiver and the reasons for the waiver no less than 15 days before the use of the waiver.

Sec. 320 Termination

(a)
In general— The President may terminate the application of sanctions, export controls, duties, prohibitions, or penalties under this title if the President certifies to Congress that the Russian Federation has ceased conducting a war of aggression against Ukraine or act in violation of a negotiated peace agreement with Ukraine.
(b)
Reimposition— The President shall immediately reimpose all previous terminated sanctions, export controls, duties, prohibitions, and penalties imposed under this title should the Russian Federation restart a war of aggression against Ukraine or act in violation of a negotiated peace agreement with Ukraine.

Sec. 321 Congressional review of Russia sanctions

(a)
Submission to congress of proposed action—
(1)
In general— Notwithstanding any other provision of law, before taking any action described in paragraph (2), the President shall submit to the appropriate congressional committees and leadership a report that describes the proposed action and the reasons for that action.
(2)
Actions described—
(A)
In general— An action described in this paragraph is—
(i)
an action to terminate the application of any sanction, export control, duty, or prohibition described in subparagraph (B);
(ii)
with respect to sanctions, export controls, duties, or prohibitions described in subparagraph (B) imposed by the President with respect to a person, an action to waive the application of those sanctions with respect to that person; or
(iii)
a licensing action that significantly alters United States foreign policy with respect to Russia.
(B)
Sanctions, export controls, duties, and prohibitions described— The sanctions, export controls, duties, and prohibitions described in this subparagraph are sanctions, export controls, duties, and prohibitions with respect to Russia provided for under—
(i)
this Act;
(ii)
Executive Order 13849 (22 U.S.C. 9521 note; relating to authorizing the implementation of certain sanctions set forth in the Countering America’s Adversaries Through Sanctions Act (22 U.S.C. 9401 et seq.));
(iii)
Executive Order 13883 (22 U.S.C. 5605 note; relating to administration of proliferation sanctions and amendment of Executive Order 12851 (22 U.S.C. 2797 note; relating to the administration of proliferation sanctions, Middle East arms control, and related congressional reporting responsibilities));
(iv)
Executive Order 14024 (50 U.S.C. 1701 note; relating to blocking property with respect to specified harmful foreign activities of the Government of the Russian Federation);
(v)
Executive Order 14039 (22 U.S.C. 9526 note; relating to blocking property with respect to certain Russian energy export pipelines);
(vi)
Executive Order 14065 (50 U.S.C. 1701 note; relating to blocking property of certain persons and prohibiting certain transactions with respect to continued Russian efforts to undermine the sovereignty and territorial integrity of Ukraine);
(vii)
Executive Order 14066 (50 U.S.C. 1701 note; relating to prohibiting certain imports and new investments with respect to continued Russian Federation efforts to undermine the sovereignty and territorial integrity of Ukraine);
(viii)
Executive Order 14068 (50 U.S.C. 1701 note; relating to prohibiting certain imports, exports, and new investment with respect to continued Russian Federation aggression);
(ix)
Executive Order 14071 (50 U.S.C. 1701 note; relating to prohibiting new investment in and certain services to the Russian Federation in response to continued Russian Federation aggression); and
(x)
Executive Order 14114 (88 Fed. Reg. 89271; relating to taking additional steps with respect to the Russian Federation’s harmful activities).
(3)
Description of type of action— Each report submitted under paragraph (1) with respect to an action described in paragraph (2) shall include a description of whether the action—
(A)
is not intended to significantly alter United States foreign policy with respect to Russia; or
(B)
is intended to significantly alter United States foreign policy with respect to Russia.
(4)
Inclusion of additional matter—
(A)
In general— Each report submitted under paragraph (1) that relates to an action that is intended to significantly alter United States foreign policy with respect to Russia shall include a description of—
(i)
the significant alteration to United States foreign policy with respect to Russia;
(ii)
the anticipated effect of the action on the national security interests of the United States; and
(iii)
the policy objectives for which the sanctions affected by the action were initially imposed.
(B)
Requests from banking and financial services committees— The Committee on Banking, Housing, and Urban Affairs of the Senate or the Committee on Financial Services of the House of Representatives may request the submission to the Committee of the matter described in clauses (ii) and (iii) of subparagraph (A) with respect to a report submitted under paragraph (1) that relates to an action that is not intended to significantly alter United States foreign policy with respect to Russia.
(5)
Confidentiality of proprietary information— Proprietary information that can be associated with a particular person with respect to an action described in paragraph (2) may be included in a report submitted under paragraph (1) only if the appropriate congressional committees and leadership provide assurances of confidentiality, unless that person otherwise consents in writing to such disclosure.
(6)
Rule of construction— Paragraph (2)(A)(iii) shall not be construed to require the submission of a report under paragraph (1) with respect to the routine issuance of a license that does not significantly alter United States foreign policy with respect to Russia.
(b)
Period for review by congress—
(1)
In general— During the period of 30 calendar days beginning on the date on which the President submits a report under subsection (a)(1)—
(A)
in the case of a report that relates to an action that is not intended to significantly alter United States foreign policy with respect to Russia, the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives should, as appropriate, hold hearings and briefings and otherwise obtain information in order to fully review the report; and
(B)
in the case of a report that relates to an action that is intended to significantly alter United States foreign policy with respect to Russia, the Committee on Foreign Relations of the Senate and the Committee on Foreign Affairs of the House of Representatives should, as appropriate, hold hearings and briefings and otherwise obtain information in order to fully review the report.
(2)
Exception— The period for congressional review under paragraph (1) of a report required to be submitted under subsection (a)(1) shall be 60 calendar days if the report is submitted on or after July 10 and on or before September 7 in any calendar year.
(3)
Limitation on actions during initial congressional review period— Notwithstanding any other provision of law, during the period for congressional review provided for under paragraph (1) of a report submitted under subsection (a)(1) proposing an action described in subsection (a)(2), including any additional period for such review as applicable under the exception provided in paragraph (2), the President may not take that action unless a joint resolution of approval with respect to that action is enacted in accordance with subsection (c).
(4)
Limitation on actions during presidential consideration of a joint resolution of disapproval— Notwithstanding any other provision of law, if a joint resolution of disapproval relating to a report submitted under subsection (a)(1) proposing an action described in subsection (a)(2) passes both Houses of Congress in accordance with subsection (c), the President may not take that action for a period of 12 calendar days after the date of passage of the joint resolution of disapproval.
(5)
Limitation on actions during congressional reconsideration of a joint resolution of disapproval— Notwithstanding any other provision of law, if a joint resolution of disapproval relating to a report submitted under subsection (a)(1) proposing an action described in subsection (a)(2) passes both Houses of Congress in accordance with subsection (c), and the President vetoes the joint resolution, the President may not take that action for a period of 10 calendar days after the date of the President’s veto.
(6)
Effect of enactment of a joint resolution of disapproval— Notwithstanding any other provision of law, if a joint resolution of disapproval relating to a report submitted under subsection (a)(1) proposing an action described in subsection (a)(2) is enacted in accordance with subsection (c), the President may not take that action.
(c)
Joint resolutions of disapproval or approval—
(1)
Definitions— In this subsection:
(A)
Joint resolution of approval— The term joint resolution of approval means only a joint resolution of either House of Congress—
(i)
the title of which is as follows: “A joint resolution approving the President’s proposal to take an action relating to the application of certain sanctions with respect to Russia.”; and
(ii)
the sole matter after the resolving clause of which is the following: “Congress approves of the action relating to the application of sanctions imposed with respect to Russia proposed by the President in the report submitted to Congress under this section of the Ukraine Support Act with the first blank space being filled with the appropriate date and the second blank space being filled with a short description of the proposed action.”.
(B)
Joint resolution of disapproval— The term joint resolution of disapproval means only a joint resolution of either House of Congress—
(i)
the title of which is as follows: “A joint resolution disapproving the President’s proposal to take an action relating to the application of certain sanctions with respect to Russia.”; and
(ii)
the sole matter after the resolving clause of which is the following: “Congress disapproves of the action relating to the application of sanctions imposed with respect to Russia proposed by the President in the report submitted to Congress under this section of the Ukraine Support Act with the first blank space being filled with the appropriate date and the second blank space being filled with a short description of the proposed action.”.
(2)
Introduction— During the period of 30 calendar days provided for under subsection (b)(1), including any additional period as applicable under the exception provided in subsection (b)(2), a joint resolution of approval or joint resolution of disapproval may be introduced—
(A)
in the House of Representatives, by the majority leader or the minority leader; and
(B)
in the Senate, by the majority leader (or the majority leader’s designee) or the minority leader (or the minority leader’s designee).
(3)
Floor consideration in house of representatives— If a committee of the House of Representatives to which a joint resolution of approval or joint resolution of disapproval has been referred has not reported the joint resolution within 10 calendar days after the date of referral, that committee shall be discharged from further consideration of the joint resolution.
(4)
Consideration in the senate—
(A)
Committee referral— A joint resolution of approval or joint resolution of disapproval introduced in the Senate shall be—
(i)
referred to the Committee on Banking, Housing, and Urban Affairs of the Senate if the joint resolution relates to a report under subsection (a)(3)(A) that relates to an action that is not intended to significantly alter United States foreign policy with respect to Russia; and
(ii)
referred to the Committee on Foreign Relations of the Senate if the joint resolution relates to a report under subsection (a)(3)(B) that relates to an action that is intended to significantly alter United States foreign policy with respect to Russia.
(B)
Reporting and discharge— If the committee to which a joint resolution of approval or joint resolution of disapproval was referred has not reported the joint resolution within 10 calendar days after the date of referral of the joint resolution, that committee shall be discharged from further consideration of the joint resolution and the joint resolution shall be placed on the appropriate calendar.
(C)
Proceeding to consideration— Notwithstanding Rule XXII of the Standing Rules of the Senate, it is in order at any time after the Committee on Banking, Housing, and Urban Affairs or the Committee on Foreign Relations of the Senate, as the case may be, reports a joint resolution of approval or joint resolution of disapproval to the Senate or has been discharged from consideration of such a joint resolution (even though a previous motion to the same effect has been disagreed to) to move to proceed to the consideration of the joint resolution, and all points of order against the joint resolution (and against consideration of the joint resolution) are waived. The motion to proceed is not debatable. The motion is not subject to a motion to postpone. A motion to reconsider the vote by which the motion is agreed to or disagreed to shall not be in order.
(D)
Rulings of the chair on procedure— Appeals from the decisions of the Chair relating to the application of the rules of the Senate, as the case may be, to the procedure relating to a joint resolution of approval or joint resolution of disapproval shall be decided without debate.
(E)
Consideration of veto messages— Debate in the Senate of any veto message with respect to a joint resolution of approval or joint resolution of disapproval, including all debatable motions and appeals in connection with the joint resolution, shall be limited to 10 hours, to be equally divided between, and controlled by, the majority leader and the minority leader or their designees.
(5)
Rules relating to senate and house of representatives—
(A)
Treatment of senate joint resolution in house— In the House of Representatives, the following procedures shall apply to a joint resolution of approval or a joint resolution of disapproval received from the Senate (unless the House has already passed a joint resolution relating to the same proposed action):
(i)
The joint resolution shall be referred to the appropriate committees.
(ii)
If a committee to which a joint resolution has been referred has not reported the joint resolution within 2 calendar days after the date of referral, that committee shall be discharged from further consideration of the joint resolution.
(iii)
Beginning on the third legislative day after each committee to which a joint resolution has been referred reports the joint resolution to the House or has been discharged from further consideration thereof, it shall be in order to move to proceed to consider the joint resolution in the House of Representatives. All points of order against the motion are waived. Such a motion shall not be in order after the House of Representatives has disposed of a motion to proceed on the joint resolution. The previous question shall be considered as ordered on the motion to its adoption without intervening motion. The motion shall not be debatable. A motion to reconsider the vote by which the motion is disposed of shall not be in order.
(iv)
The joint resolution shall be considered as read. All points of order against the joint resolution and against its consideration are waived. The previous question shall be considered as ordered on the joint resolution to final passage without intervening motion except 2 hours of debate equally divided and controlled by the sponsor of the joint resolution (or a designee) and an opponent. A motion to reconsider the vote on passage of the joint resolution shall not be in order.
(B)
Treatment of house joint resolution in senate—
(i)
Receipt before passage— If, before the passage by the Senate of a joint resolution of approval or joint resolution of disapproval, the Senate receives an identical joint resolution from the House of Representatives, the following procedures shall apply:
(I)
That joint resolution shall not be referred to a committee.
(II)
With respect to that joint resolution—
(aa)
the procedure in the Senate shall be the same as if no joint resolution had been received from the House of Representatives; but
(bb)
the vote on passage shall be on the joint resolution from the House of Representatives.
(ii)
Receipt after passage— If, following passage of a joint resolution of approval or joint resolution of disapproval in the Senate, the Senate receives an identical joint resolution from the House of Representatives, that joint resolution shall be placed on the appropriate Senate calendar.
(iii)
No companion measure— If a joint resolution of approval or a joint resolution of disapproval is received from the House, and no companion joint resolution has been introduced in the Senate, the Senate procedures under this subsection shall apply to the House joint resolution.
(C)
Application to revenue measures— The provisions of this paragraph shall not apply in the House of Representatives to a joint resolution of approval or joint resolution of disapproval that is a revenue measure.
(d)
Tolling— The requirements of this section may not be tolled by either the House of Representatives or the Senate.

Sec. 322 Definitions

In this title:
(1)
Admission; admitted; alien— The terms admission, admitted, and alien have the meanings given those terms in section 101 of the Immigration and Nationality Act (8 U.S.C. 1101).
(2)
Appropriate committees of congress— The term appropriate committees of Congress means—
(A)
the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate; and
(B)
the Committee on Foreign Affairs and the Committee on Financial Services of the House of Representatives.
(3)
Financial institution— The term financial institution means a financial institution specified in subparagraph (A), (B), (C), (D), (E), (F), (G), (H), (I), (J), (M), or (Y) of section 5312(a)(2) of title 31, United States Code.
(4)
Foreign financial institution— The term foreign financial institution has the meaning given that term in regulations prescribed by the Secretary of the Treasury.
(5)
Foreign person— The term foreign person means an individual or entity that is not a United States person.
(6)
Knowingly— The term knowingly with respect to conduct, a circumstance, or a result, means that a person had actual knowledge, or should have known, of the conduct, the circumstance, or the result.
(7)
United states person— The term United States person means—
(A)
a United States citizen or an alien lawfully admitted for permanent residence to the United States; or
(B)
an entity organized under the laws of the United States or any jurisdiction within the United States, including a foreign branch of such an entity.
(8)
War of aggression— The term war of aggression is implicated when any of the following have occurred in the 30 days prior to a sanctions trigger determination—
(A)
a ground, amphibious, or airborne assault;
(B)
any naval, aerial, or terrestrial blockade;
(C)
any drone or missile attack; and
(D)
any cyber attack that has any physical repercussion in the sovereign territory of Ukraine.