Sponsors (5)
The bill increases economic and targeted sanctions pressure on Russia and improves congressional transparency to deter abuses, at the cost of higher compliance and administrative burdens, potential fuel‑price impacts, constrained executive flexibility for narrow exceptions, and increased risks to sensitive intelligence and affected individuals' legal rights.
Taxpayers and U.S. national security: The bill tightens economic pressure on Russia by barring sales/deliveries and prohibiting U.S. persons from dealing with designated Russian oil and gas actors, reducing Russian export revenue and constraining its ability to fund aggression.
U.S. firms and financial institutions: Clarifies and removes ambiguous OFAC authorizations, reducing legal uncertainty and compliance risk for businesses that previously relied on general licenses.
Low-income individuals, immigrants, and humanitarian organizations: Preserves exemptions for food, agricultural products, medicine, medical devices, and humanitarian transactions so aid and essential goods remain available.
U.S. consumers and middle-class families: By constraining supply options, the restrictions could increase global oil-market disruption and raise fuel prices, increasing household and transportation costs.
Shipping, logistics, energy firms, importers, and banks: Ending or tightening prior general licenses risks contract disruption, financial losses, transaction delays, increased compliance costs, and exposure to penalties.
Individuals with Russian ties and immigrant families: New immigration sanctions will render many Russian nationals inadmissible and revoke visas, disrupting family, business, and travel relationships.
Based on analysis of 5 sections of legislative text.
Voids two OFAC licenses for certain March 2026 Russian oil deliveries, bans similar Treasury authorizations, forces presidential sanctions on Russian energy actors, and requires recurring reports.
Official title: To nullify Russia-related General License 133, "Authorizing the Delivery and Sale of Crude Oil and Petroleum Products of Russian Federation Origin Loaded on Vessels as of March 5, 2026 to India", and Russia-related General License 134A, "Authorizing the Delivery and Sale of Crude Oil and Petroleum Products of Russian Federation Origin Loaded on Vessels as of March 12, 2026", and for other purposes.
Introduced April 9, 2026 by Gregory W. Meeks · Last progress April 9, 2026
Nullifies two Treasury/OFAC general licenses that had allowed certain sales and deliveries of Russian-origin crude oil and petroleum products and bars future Treasury authorizations that would permit transactions needed to sell, deliver, or offload Russian oil and petroleum products. It also directs the President to impose broad sanctions (asset blocks and immigration restrictions) on Russian persons involved in oil and gas extraction, refining, production, or maritime transport of petroleum, and requires periodic reporting on the economic effects of those OFAC licenses and on any involvement by Russian state-affiliated energy firms in the forced deportation or indoctrination of Ukrainian civilians.