Sponsors (5)
The bill increases economic and political pressure on Russia and boosts congressional oversight and human-rights transparency, at the cost of higher compliance and market disruption risks for U.S. businesses and consumers, greater administrative/reporting burdens, potential exposure of sensitive intelligence, and expanded executive sanction authority.
U.S. persons are prohibited from participating in designated Russian oil and gas transactions, tightening economic pressure on Russia and reducing potential revenue that could fund aggression.
The bill clarifies sanctions authorities by removing ambiguous OFAC authorizations and explicitly barring dealings with designated Russian energy actors, reducing legal uncertainty for U.S. firms and financial institutions.
Humanitarian trade is preserved by exempting food, agricultural products, medicine, medical devices, and other humanitarian transactions from the sanctions, protecting aid flows and essential imports.
U.S. consumers could face higher fuel and energy prices if removing or restricting Russian crude supplies tightens global oil markets or forces costly supply shifts.
Energy, shipping, logistics firms and financial institutions may suffer contract disruptions, compliance costs, penalties, and financial losses as transactions and licenses are curtailed.
The bill limits Treasury flexibility to issue targeted license exceptions and expands broad IEEPA authority while restricting judicial review, concentrating power in the Executive and reducing avenues for tailored humanitarian or logistical exceptions and legal recourse.
Based on analysis of 5 sections of legislative text.
Void specified OFAC authorizations for certain Russian-origin oil shipments, bar similar future Treasury approvals, mandate sanctions on Russian energy actors, and require frequent State Department reports to Congress.
Introduced April 9, 2026 by Gregory W. Meeks · Last progress April 9, 2026
Immediately cancels two Treasury/OFAC authorizations that permitted certain deliveries and sales of Russian-origin crude oil and petroleum products, and bars the Treasury from issuing future authorizations that would allow typical sale, delivery, or offloading transactions for Russian oil. It also requires the President to impose broad asset-blocking and immigration-related sanctions within 30 days on Russian persons active in oil and gas extraction, refinement, production, or maritime transport of hydrocarbons, while carving out humanitarian, food/medicine, UN, and authorized U.S. intelligence/law enforcement exceptions. The bill creates recurring reporting duties for the State Department to brief Congress on how the cancelled authorizations and related activity affect Russian oil exports, prices, revenues, and production, and it requires separate six‑month reports for two years on any involvement by Russian state-owned or affiliated energy firms in abductions or forcible deportations of Ukrainian civilians. Civil and criminal penalties under IEEPA apply to violations of implementing regulations, and the bill limits judicial review in specified ways.