PEACE Act of 2025

This bill aims to pressure Russia to end its war in Ukraine by cutting off money that flows through the U.S. banking system. It tells the Treasury Department to block or tightly limit U.S. bank accounts that foreign banks use if those banks help people or companies already under U.S. Russia sanctions or working in Russia’s energy sector. The bill cites recent deadly attacks in Ukraine to explain why stronger steps are needed .

Key points:

• Who is affected: Foreign banks that knowingly give significant financial services to sanctioned Russian targets, entities listed under U.S. Russia sanctions directives, or anyone the Treasury finds operates in Russia’s energy sector. Treasury must also decide within 90 days if Gazprom, Rosneft, and Lukoil fall into that category.
• What changes: Within 180 days, Treasury must issue rules to prohibit or put strict conditions on U.S. “correspondent” or “payable-through” accounts used by those foreign banks—basically, the U.S. accounts they use to move money through the U.S. system. Breaking the rules brings standard federal sanctions penalties .
• Exceptions: The President can grant a waiver for up to 180 days at a time if it helps resolve the emergency or is important to U.S. national interests, with a detailed explanation to Congress.
• When it ends: The law ends 30 days after the President reports that Russia stopped destabilizing Ukraine’s sovereignty and borders, or after 5 years, whichever comes first.