1 meeting related to this legislation
Last progress April 1, 2025 (10 months ago)
Introduced on April 1, 2025 by Brian K. Fitzpatrick
Referred to the Committee on Foreign Affairs, and in addition to the Committees on the Judiciary, Financial Services, Ways and Means, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Imposes a broad, fast-acting economic and financial penalty regime aimed at the Russian government and its affiliates: immediate bans on U.S. investments in Russian government-owned entities and energy production, prohibition on buying Russian sovereign debt, export controls and blocking sanctions against firms that support Russian energy or military activities, and a required ban on uranium imports sourced from Russia. It also forces very large trade penalties — at least 500% ad valorem duties — on goods and services from Russia and on countries knowingly trading in Russian oil, gas, uranium, or petrochemical products, with recurring review and reimposition of measures every 90 days. Implements multiple enforcement tools (IEEPA authority, CAATSA sanctions, immigration penalties, blocking and trade measures), directs Treasury, Commerce, USTR, and the SEC to act quickly (typically within 15 days after a formal “covered determination”), and creates recurring certification and reporting cycles. Exceptions for humanitarian aid and narrowly defined intelligence or treaty obligations are included; termination requires presidential certification of specific conditions including a verifiable Russian peace agreement with Ukraine.
Secretary of the Treasury must prohibit any United States financial institution from making any investment described in subsection (b) not later than 15 days after a covered determination is made.
Prohibited investments are monetary investments in or to an entity owned or controlled by the Government of the Russian Federation.
Prohibited investments are monetary investments in or to the Armed Forces of the Russian Federation.
Defines the term "United States financial institution" to mean any financial institution that is a United States person and states that the term includes an investment company, private equity company, venture capital company, or hedge fund that is a United States person.
Not later than 15 days after a covered determination is made, the Secretary of Commerce must prohibit, under the Export Control Reform Act of 2018, the export, reexport, or in-country transfer to the Russian Federation of any energy or energy product produced in the United States.
Updated 6 days ago
Last progress December 11, 2025 (1 month ago)
Major affected groups and likely effects:
Financial sector: U.S. banks, broker‑dealers, asset managers, and other financial institutions will face immediate prohibitions on certain investments in Russian government‑owned/controlled entities, restrictions on correspondent/payable‑through accounts, and compliance requirements to block transactions and property. Global financial‑messaging providers and institutions that continue to service sanctioned Russian banks risk U.S. blocking sanctions, which would disrupt cross‑border payments and correspondent banking relationships.
Energy and commodity firms: U.S. energy exporters will be barred from supplying Russia and U.S. investment into Russia’s energy sector will be prohibited, while global oil, gas, and uranium markets may be disrupted by the uranium import ban and secondary tariffs on countries trading Russian-origin commodities. Companies that handle uranium or petroleum with Russian origin face sanction risk.
Trade and manufacturing: Importers, exporters, freight forwarders, and U.S. companies reliant on Russian inputs may see abrupt tariff hikes (minimum 500% on Russian goods and on goods from third countries trading in Russian energy/uranium), raising costs, supply‑chain disruptions, and potential shortages of some items.
Securities markets and investors: The SEC is required to halt trading of securities tied to designated Russian-affiliated issuers; U.S. investors and exchanges will need to unwind exposures. Delisting and trading halts will affect holders of affected securities and derivatives.
Government agencies and administrative burden: Treasury, Commerce, USTR, SEC, and the White House must act on tight timelines (often 15 days), create designation lists, coordinate interagency reviews, and manage 90‑day renewal cycles; agencies will require additional legal, compliance, and enforcement capacity.
Foreign governments and international relations: Third‑country governments that knowingly trade in Russian energy/uranium face punitive tariffs, possibly triggering diplomatic pushback, economic retaliation, and realignment of trade flows; allied nations may face pressure to alter energy sourcing.
National security and humanitarian balance: The statute includes humanitarian and intelligence exceptions but will pressure policymakers to manage humanitarian flows, nuclear fuel assurances, and allied energy needs while enforcing sanctions. There is also an elevated risk of economic spillovers — higher domestic consumer prices, supply shortages, and market volatility.
Legal and business risk: Companies, banks, and foreign intermediaries face criminal and civil penalties under IEEPA and related statutes for violations, increasing compliance costs and legal exposure. Determining whether a transaction “benefits” the Russian government or whether a third country “knowingly” traded in Russian-origin commodities will create legal uncertainty and potential litigation.
Overall assessment: The bill creates a sweeping, aggressive sanctions and trade‑penalty regime designed to economically isolate Russia and deter third‑country support for Russian energy and uranium. If enacted and implemented quickly, it would sharply affect financial markets, energy supply chains, international trade relationships, and require significant government and private‑sector compliance resources. It also raises risks of retaliation, collateral economic harm to U.S. firms and consumers, and complex international diplomatic consequences.
Updated 5 hours ago
Last progress April 1, 2025 (10 months ago)
