Rebuilding Economic Prosperity and Opportunity for Ukrainians Act or the REPO for Ukrainians Act
This bill requires or authorizes various actions related to the confiscation and disposition of Russian sovereign assets (which include funds and other property of Russia's central bank, direct investment fund, or ministry of finance).
Under the bill, the President must require U.S. financial institutions to notify the Department of the Treasury of any Russian sovereign assets located at such institutions. The President may confiscate any such assets subject to U.S. jurisdiction. Confiscated funds and the proceeds of liquidated property must be deposited into the Ukraine Support Fund established by the bill.
The Ukraine Support Fund shall be used by the Department of State to compensate Ukraine for damages caused by the Russian invasion. The Ukraine Support Fund may also support an international body or mechanism for (1) reconstruction and rebuilding efforts in Ukraine, (2) humanitarian assistance to the Ukrainian people, or (3) other purposes which support the recovery of Ukraine and the welfare of the Ukrainian people.
The bill also directs the President to seek to establish, with foreign partners, an international mechanism to provide compensation to Ukraine using the Ukraine Support Fund and Russian sovereign assets confiscated by foreign partners.
Additionally, the bill sets policy on related topics, such as specifying that the United States should lead an international sanctions regime to freeze Russian sovereign assets in conjunction with allies and partners.
[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4175 Introduced in House (IH)]
<DOC>
118th CONGRESS
1st Session
H. R. 4175
To authorize the Secretary of State to provide additional assistance to
Ukraine using assets confiscated from the Central Bank of the Russian
Federation and other sovereign assets of the Russian Federation, and
for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
June 15, 2023
Mr. McCaul (for himself, Ms. Kaptur, Mr. Wilson of South Carolina, Mr.
Cohen, Mr. Kean of New Jersey, Mr. Quigley, and Mr. Fitzpatrick)
introduced the following bill; which was referred to the Committee on
Foreign Affairs, and in addition to the Committees on Rules, and
Financial Services, 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
_______________________________________________________________________
A BILL
To authorize the Secretary of State to provide additional assistance to
Ukraine using assets confiscated from the Central Bank of the Russian
Federation and other sovereign assets of the Russian Federation, and
for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) Short Title.--This Act may be cited as the ``Rebuilding
Economic Prosperity and Opportunity for Ukrainians Act'' or the ``REPO
for Ukrainians Act''.
(b) Table of Contents.--The table of contents for this Act is as
follows:
Sec. 1. Short title; table of contents.
TITLE I--CONFISCATION AND REPURPOSING OF RUSSIAN SOVEREIGN ASSETS
Sec. 101. Findings; sense of Congress.
Sec. 102. Sense of Congress regarding importance of the Russian
Federation providing compensation to
Ukraine.
Sec. 103. Prohibition on release of blocked Russian sovereign assets.
Sec. 104. Authority to ensure compensation to Ukraine using confiscated
Russian sovereign assets.
Sec. 105. International agreement to use Russian sovereign assets to
provide for the reconstruction of Ukraine.
Sec. 106. Report on use of confiscated Russian sovereign assets for
reconstruction.
Sec. 107. Assessment by Secretary of State and Administrator of United
States Agency for International Development
on reconstruction and rebuilding needs of
Ukraine.
Sec. 108. Exception relating to importation of goods.
Sec. 109. Definitions.
TITLE II--MULTILATERAL SANCTIONS COORDINATION
Sec. 201. Statement of policy regarding coordination of multilateral
sanctions with respect to the Russian
Federation.
Sec. 202. Assessment of impact of Ukraine-related sanctions on the
economy of the Russian Federation.
Sec. 203. Information on voting practices in the United Nations with
respect to the invasion of Ukraine by the
Russian Federation.
TITLE I--CONFISCATION AND REPURPOSING OF RUSSIAN SOVEREIGN ASSETS
SEC. 101. FINDINGS; SENSE OF CONGRESS.
(a) Findings.--Congress makes the following findings:
(1) On February 24, 2022, the Government of the Russian
Federation violated the sovereignty and territorial integrity
of Ukraine by engaging in a premeditated, second illegal
invasion of Ukraine.
(2) The international community has condemned the illegal
invasions of Ukraine by the Russian Federation, as well as the
commission of war crimes by the Russian Federation, including
through the deliberate targeting of civilians and civilian
infrastructure and the commission of sexual violence.
(3) The leaders of the G7 have called the Russian
Federation's ``unprovoked and completely unjustified attack on
the democratic state of Ukraine'' a ``serious violation of
international law and a grave breach of the United Nations
Charter and all commitments Russia entered in the Helsinki
Final Act and the Charter of Paris and its commitments in the
Budapest Memorandum''.
(4) On March 2, 2022, the United Nations General Assembly
adopted Resolution ES-11/1, entitled ``Aggression against
Ukraine'', by a vote of 141 to 5. That resolution ``deplore[d]
in the strongest terms the aggression by the Russian Federation
against Ukraine in violation of Article 2(4) of the [United
Nations] Charter'' and demanded that the Russian Federation
``immediately cease its use of force against Ukraine'' and
``immediately, completely and unconditionally withdraw all of
its military forces from the territory of Ukraine within its
internationally recognized borders''.
(5) On March 16, 2022, the International Court of Justice
issued provisional measures ordering the Russian Federation to
``immediately suspend the military operations that it commenced
on 24 February 2022 in the territory of Ukraine''.
(6) On November 14, 2022, the United Nations General
Assembly adopted a resolution--
(A) recognizing that the Russian Federation must
bear the legal consequences of all of its
internationally wrongful acts, including making
reparation for the injury, including any damage, caused
by such acts;
(B) recognizing the need for the establishment of
an international mechanism for reparation for damage,
loss, or injury caused by the Russian Federation in
Ukraine; and
(C) recommending creation of an international
register of such damage, loss, or injury.
(7) Under international law, a country that is responsible
for an internationally wrongful act is under an obligation to
compensate for the damage it has caused if such damage cannot
be made good by restitution. The Russian Federation bears such
responsibility to compensate Ukraine, and because of this grave
breach of international law, all states are legally entitled to
take countermeasures that are proportionate and aimed at
inducing the Russian Federation to comply with its
international obligations, including countermeasures that
suspend ordinary international obligations to the Russian
Federation, to help enforce the obligation of the Russian
Federation to compensate Ukraine.
(b) Sense of Congress.--It is the sense of Congress that, having
committed an act of aggression, as recognized by the United Nations
General Assembly on March 2, 2022, the Russian Federation is to be
considered as an aggressor state. The extreme illegal actions taken by
the Russian Federation, including an act of aggression, present a
unique situation, requiring and justifying the establishment of a legal
authority to compensate victims of aggression by the Russian Federation
in Ukraine. In this case, that authority is the authority of the United
States Government and other countries to confiscate Russian sovereign
assets in their respective jurisdictions to help enforce the obligation
of the Russian Federation to compensate Ukraine.
SEC. 102. SENSE OF CONGRESS REGARDING IMPORTANCE OF THE RUSSIAN
FEDERATION PROVIDING COMPENSATION TO UKRAINE.
It is the sense of Congress that--
(1) the Russian Federation bears responsibility for the
financial burden of the reconstruction of Ukraine and for
countless other costs associated with the illegal invasion of
Ukraine by the Russian Federation that began on February 24,
2022;
(2) the full cost of the Russian Federation's unlawful war
against Ukraine and the amount of money the Russian Federation
must pay Ukraine should be assessed by an international body or
mechanism charged with determining compensation and providing
assistance to Ukraine;
(3) the Russian Federation is now on notice of its
opportunity to comply with its international obligations,
including compensation, or, by agreement with the government of
independent Ukraine, authorize an international body or
mechanism to address those outstanding obligations with
authority to make binding decisions on parties that comply in
good faith;
(4) the Russian Federation can, by negotiated agreement,
participate in any international process to assess the full
cost of the Russian Federation's unlawful war against Ukraine
and make funds available to compensate for damage, loss, and
injury arising from its internationally wrongful acts in
Ukraine, and if it fails to do so, the United States and other
countries should explore other avenues for ensuring
compensation to Ukraine, including confiscation and repurposing
of assets of the Russian Federation;
(5) the President should lead robust engagement on all
bilateral and multilateral aspects of the response by the
United States to efforts by the Russian Federation to undermine
the sovereignty and territorial integrity of Ukraine, including
on any policy coordination and alignment regarding the
disposition of Russian sovereign assets in the context of
compensation;
(6) the confiscation and repurposing of Russian sovereign
assets by the United States is in the vital national security
interests of the United States and consistent with United
States and international law; and
(7) the United States should work with international allies
and partners on the confiscation and repurposing of Russian
sovereign assets as part of a coordinated, multilateral effort,
including with G7 countries and other countries in which
Russian sovereign assets are located.
SEC. 103. PROHIBITION ON RELEASE OF BLOCKED RUSSIAN SOVEREIGN ASSETS.
(a) In General.--No Russian sovereign asset that is blocked or
immobilized by the Department of the Treasury before the date specified
in section 104(g) may be released or mobilized until the President
certifies to the appropriate congressional committees that--
(1) hostilities between the Russian Federation and Ukraine
have ceased; and
(2)(A) full compensation has been made to Ukraine for harms
resulting from the invasion of Ukraine by the Russian
Federation; or
(B) the Russian Federation is participating in a bona fide
international mechanism that, by agreement, will discharge the
obligations of the Russian Federation to compensate Ukraine for
all amounts determined to be owed to Ukraine.
(b) Notification.--Not later than 30 days before the release or
mobilization of a Russian sovereign asset that previously had been
blocked or immobilized by the Department of the Treasury, the President
shall submit to the appropriate congressional committees--
(1) a notification of the decision to release or mobilize
the asset; and
(2) a justification in writing for such release or
mobilization.
(c) Joint Resolution of Disapproval.--
(1) In general.--No Russian sovereign asset that previously
had been blocked or immobilized by the Department of the
Treasury may be released or mobilized if, within 30 days of
receipt of the notification and justification required under
subsection (b), a joint resolution is enacted prohibiting the
proposed release or mobilization.
(2) Expedited procedures.--Any joint resolution described
in paragraph (1) introduced in either House of Congress shall
be considered in accordance with the provisions of section
601(b) of the International Security Assistance and Arms Export
Control Act of 1976 (Public Law 94-329; 90 Stat. 765), except
that any such resolution shall be amendable. If such a joint
resolution should be vetoed by the President, the time for
debate in consideration of the veto message on such measure
shall be limited to 20 hours in the Senate and in the House of
Representatives shall be determined in accordance with the
Rules of the House.
(d) Cooperation on Prohibition of Release of Certain Russian
Sovereign Assets.--The President may take such action as may be
necessary to seek to obtain an agreement or arrangement between the
United States, Ukraine, and other countries that have blocked or
immobilized Russian sovereign assets to prohibit such assets from being
released or mobilized until an agreement has been reached that
discharges the Russian Federation from further obligations to
compensate Ukraine.
SEC. 104. AUTHORITY TO ENSURE COMPENSATION TO UKRAINE USING CONFISCATED
RUSSIAN SOVEREIGN ASSETS.
(a) Reporting on Russian Assets.--
(1) Notice required.--Not later than 30 days after the date
of the enactment of this Act, the President shall, by means of
such instructions or regulations as the President may
prescribe, require any United States financial institution at
which Russian sovereign assets are located, and that knows or
should know of such assets, to provide notice of such assets,
including relevant information required under section
501.603(b)(ii) of title 31, Code of Federal Regulations (or
successor regulations), to the Secretary of the Treasury not
later than 10 days after detection of such assets.
(2) Report required.--
(A) In general.--Not later than 180 days after the
date of the enactment of this Act, and annually
thereafter for 3 years, the President shall submit to
the appropriate congressional committees a report
detailing the status of Russian sovereign assets
subject to the jurisdiction of the United States.
(B) Form.--The report required by subparagraph (A)
shall be submitted in unclassified form, but may
include a classified annex.
(b) Confiscation.--
(1) In general.--The President may confiscate any Russian
sovereign assets subject to the jurisdiction of the United
States.
(2) Liquidation and deposit.--The President shall--
(A) deposit any funds confiscated under paragraph
(1) into the Ukraine Support Fund established under
subsection (c);
(B) liquidate or sell any other property
confiscated under paragraph (1) and deposit the funds
resulting from such liquidation or sale into the
Ukraine Support Fund established under subsection (c);
and
(C) make all such funds available for the purposes
described in subsection (d).
(3) Method of confiscation.--The President shall confiscate
Russian sovereign assets under paragraph (1) through
instructions or licenses or in such other manner as the
President determines appropriate.
(4) Vesting.--All right, title, and interest in Russian
sovereign assets confiscated under paragraph (1) shall vest, if
necessary, in the Government of the United States while being
held in the Ukraine Support Fund established under subsection
(c).
(c) Establishment of the Ukraine Support Fund.--
(1) In general.--The President shall establish a non-
interest-bearing account, to be known as the ``Ukraine Support
Fund'', to consist of the funds deposited into the account
under subsection (b).
(2) Use of funds.--The funds in the account established
under paragraph (1) shall be available to be used only as
specified in subsection (d).
(d) Use of Confiscated Property.--
(1) In general.--Subject to paragraph (2), funds in the
Ukraine Support Fund shall be available to the Secretary of
State, in consultation with the Administrator of the United
States Agency for International Development, for the purpose of
compensating Ukraine for damages resulting from the unlawful
invasion by the Russian Federation that began on February 24,
2022, including through, to the extent possible, the provision
of such funds to an international body or mechanism charged
with determining compensation and providing assistance to
Ukraine, for purposes that include the following:
(A) Reconstruction and rebuilding efforts in
Ukraine.
(B) To provide humanitarian assistance to the
people of Ukraine.
(C) Such other purposes as the Secretary determines
directly and effectively support the recovery of
Ukraine and the welfare of the people of Ukraine.
(2) Notification.--
(A) In general.--The Secretary of State shall
notify the appropriate congressional committees not
fewer than 15 days before providing any funds from the
Ukraine Support Fund to the Government of Ukraine or to
any other person or international organization for the
purposes described in paragraph (1).
(B) Elements.--A notification under subparagraph
(A) with respect to the provision of funds to the
Government of Ukraine shall specify--
(i) the amount of funds to be provided;
(ii) the purpose for which such funds are
provided; and
(iii) the recipient.
(e) Judicial Review.--
(1) In general.--The confiscation of Russian sovereign
assets under subsection (b)(1) shall not be subject to judicial
review.
(2) Rule of construction.--Nothing in this subsection shall
be construed to limit any private individual or entity from
asserting due process claims in United States courts.
(f) Exception for United States Obligations Under Vienna
Conventions.--The authorities provided by this section may not be
exercised in a manner inconsistent with the obligations of the United
States under--
(1) the Convention on Diplomatic Relations, done at Vienna
April 18, 1961, and entered into force April 24, 1964 (23 UST
3227);
(2) the Convention on Consular Relations, done at Vienna
April 24, 1963, and entered into force on March 19, 1967 (21
UST 77);
(3) the Agreement Regarding the Headquarters of the United
Nations, signed at Lake Success June 26, 1947, and entered into
force November 21, 1947 (TIAS 1676); or
(4) any other international agreement governing the use of
force and establishing rights under international humanitarian
law.
(g) Sunset.--The authority to confiscate, liquidate, and transfer
Russian sovereign assets under this section shall terminate on the
earlier of--
(1) the date that is 5 years after the date of the
enactment of this Act; or
(2) the date that is 120 days after the date on which the
President determines and certifies to the appropriate
congressional committees that--
(A) hostilities between the Russian Federation and
Ukraine have ceased; and
(B)(i) full compensation has been made to Ukraine
for harms resulting from the invasion of Ukraine by the
Russian Federation; or
(ii) the Russian Federation is participating in a
bona fide international mechanism that, by agreement,
will discharge the obligations of the Russian
Federation to compensate Ukraine for all amounts
determined to be owed to Ukraine.
SEC. 105. INTERNATIONAL AGREEMENT TO USE RUSSIAN SOVEREIGN ASSETS TO
PROVIDE FOR THE RECONSTRUCTION OF UKRAINE.
(a) In General.--The President shall take such action as the
President determines necessary to seek to establish a common
international compensation mechanism, in coordination with foreign
partners including Ukraine, that shall include the establishment of an
international fund to be known as the ``Common Ukraine Fund'', that
uses assets in the Ukraine Support Fund established under section
104(c) and contributions from foreign partners that have also
confiscated Russian sovereign assets to allow for compensation for
Ukraine, including by--
(1) establishing a register of damage to serve as a record
of evidence and for assessment of the full costs of damages to
Ukraine resulting from the invasion of Ukraine by the Russian
Federation that began on February 24, 2022;
(2) establishing a mechanism for compensating Ukraine for
damages resulting from that invasion;
(3) ensuring distribution of those assets or the proceeds
of those assets based on determinations under that mechanism;
and
(4) taking such other actions as may be necessary to carry
out this section.
(b) Authorization for Deposit in the Common Ukraine Fund.--Upon the
President reaching an agreement or arrangement to establish a common
international compensation mechanism pursuant to subsection (a), the
Secretary of State shall transfer funds from the Ukraine Support Fund
established under section 104(c) to the Common Ukraine Fund established
under subsection (a).
(c) Notifications.--
(1) Agreement or arrangement.--The President shall notify
the appropriate congressional committees not later than 30 days
before entering into any new bilateral or multilateral
agreement or arrangement under subsection (a).
(2) Transfer.--The President shall notify the appropriate
congressional committees not later than 30 days before any
transfer to the Common Ukraine Fund established under
subsection (a).
(d) Limitation on Transfer of Funds.--No funds may be transferred
to the Common Ukraine Fund established under subsection (a) unless the
President certifies to the appropriate congressional committees that--
(1) the institution housing the Common Ukraine Fund has a
plan to ensure transparency and accountability for all funds
transferred to and from the Common Ukraine Fund; and
(2) the President has transmitted the plan required under
paragraph (1) to the appropriate congressional committees in
writing.
(e) Joint Resolution of Disapproval.--No funds may be transferred
to the Common Ukraine Fund established under subsection (a) if, within
30 days of receipt of the notification required under subsection
(c)(2), a joint resolution is enacted prohibiting the transfer.
(f) Report.--Not later than 90 days after the date of the enactment
of this Act, and not less frequently than every 90 days thereafter, the
President shall submit to the appropriate congressional committees a
report that includes the following:
(1) An accounting of funds in the Common Ukraine Fund
established under subsection (a).
(2) Any information regarding the disposition of the Common
Ukraine Fund that has been transmitted to the President by the
institution housing the Common Ukraine Fund during the period
covered by the report.
(3) A description of United States multilateral and
bilateral diplomatic engagement with allies and partners of the
United States that also have immobilized Russian sovereign
assets to allow for compensation for Ukraine during the period
covered by the report.
(4) An outline of steps taken to carry out this section
during the period covered by the report.
SEC. 106. REPORT ON USE OF CONFISCATED RUSSIAN SOVEREIGN ASSETS FOR
RECONSTRUCTION.
Not later than 90 days after the date of the enactment of this Act,
and every 90 days thereafter, the Secretary of State, in consultation
with the Secretary of the Treasury, shall submit to the appropriate
congressional committees a report that contains--
(1) the amount and source of Russian sovereign assets
confiscated pursuant to subsection (b)(1) of section 104;
(2) the amount and source of funds deposited into the
Ukraine Support Fund under subsection (b)(2) of that section;
and
(3) a detailed description and accounting of how such funds
were used to meet the purposes described in subsection (d) of
that section.
SEC. 107. ASSESSMENT BY SECRETARY OF STATE AND ADMINISTRATOR OF UNITED
STATES AGENCY FOR INTERNATIONAL DEVELOPMENT ON
RECONSTRUCTION AND REBUILDING NEEDS OF UKRAINE.
(a) In General.--Not later than 180 days after the date of the
enactment of this Act, the Secretary of State, in consultation with the
Administrator of the United States Agency for International
Development, shall submit to the appropriate congressional committees
an assessment of the most pressing needs of Ukraine for reconstruction,
rebuilding, security assistance, and humanitarian aid.
(b) Elements.--The assessment required by subsection (a) shall
include the following:
(1) An estimate of the rebuilding and reconstruction needs
of Ukraine, as of the date of the assessment, resulting from
the unlawful invasion of Ukraine by the Russian Federation,
including--
(A) a description of the sources and methods for
the estimate; and
(B) an identification of the locations or regions
in Ukraine with the most pressing needs.
(2) An estimate of the humanitarian needs, as of the date
of the assessment, of the people of Ukraine, including
Ukrainians residing inside the internationally recognized
borders of Ukraine or outside those borders, resulting from the
unlawful invasion of Ukraine by the Russian Federation.
(3) An assessment of the extent to which the needs
described in paragraphs (1) and (2) have been met or funded, by
any source, as of the date of the assessment.
(4) A plan to engage in robust multilateral and bilateral
diplomacy to ensure that allies and partners of the United
States, particularly in the European Union as Ukraine seeks
accession, increase their commitment to Ukraine's
reconstruction.
(5) An identification of which such needs should be
prioritized, including any assessment or request by the
Government of Ukraine with respect to the prioritization of
such needs.
SEC. 108. EXCEPTION RELATING TO IMPORTATION OF GOODS.
(a) In General.--The authorities and requirements under this title
shall not include the authority or a requirement to impose sanctions on
the importation of goods.
(b) Good Defined.--In this section, the term ``good'' means any
article, natural or manmade substance, material, supply, or
manufactured product, including inspection and test equipment, and
excluding technical data.
SEC. 109. DEFINITIONS.
In this title:
(1) Appropriate congressional committees.--The term
``appropriate congressional committees'' 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.
(2) 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 (Z) of section 5312(a)(2) of title 31, United States
Code.
(3) G7.--The term ``G7'' means the countries that are
member of the informal Group of 7, including Canada, France,
Germany, Italy, Japan, the United Kingdom, and the United
States.
(4) Russian sovereign asset.--The term ``Russian sovereign
asset'' means any of the following:
(A) Funds and other property of--
(i) the Central Bank of the Russian
Federation;
(ii) the Russian Direct Investment Fund; or
(iii) the Ministry of Finance of the
Russian Federation.
(B) Any sovereign funds of the Russian Federation
held in a financial institution that is wholly owned or
controlled by the Government of the Russian Federation.
(C) Any other funds or other property wholly owned
or controlled by the Government of the Russian
Federation, including by any subdivision, agency, or
instrumentality of that government.
(5) United states.--The term ``United States'' means the
several States, the District of Columbia, the Commonwealth of
Puerto Rico, the Commonwealth of the Northern Mariana Islands,
American Samoa, Guam, the United States Virgin Islands, and any
other territory or possession of the United States.
(6) United states financial institution.--The term ``United
States financial institution'' means a financial institution
organized under the laws of the United States or of any
jurisdiction within the United States, including a foreign
branch of such an institution.
TITLE II--MULTILATERAL SANCTIONS COORDINATION
SEC. 201. STATEMENT OF POLICY REGARDING COORDINATION OF MULTILATERAL
SANCTIONS WITH RESPECT TO THE RUSSIAN FEDERATION.
(a) In General.--In response to the Russian Federation's unprovoked
and illegal invasion of Ukraine, it is the policy of the United States
that--
(1) the United States, along with the European Union, the
G7, Australia, and other willing allies and partners of the
United States, should lead a coordinated international
sanctions regime to freeze sovereign assets of the Russian
Federation;
(2) the head of the Office of Sanctions Coordination of the
Department of State should engage in interagency and
multilateral coordination with agencies of the European Union,
the G7, Australia, and other allies and partners of the United
States to ensure the ongoing implementation and enforcement of
sanctions with respect to the Russian Federation in response to
its invasion of Ukraine;
(3) the Secretary of State, in consultation with the
Secretary of the Treasury, should, to the extent practicable
and consistent with relevant United States law, lead and
coordinate with the European Union, the G7, Australia, and
other allies and partners of the United States with respect to
enforcement of sanctions imposed with respect to the Russian
Federation;
(4) the United States should provide relevant technical
assistance, implementation guidance, and support relating to
enforcement and implementation of sanctions imposed with
respect to the Russian Federation;
(5) where appropriate, the head of the Office of Sanctions
Coordination, in coordination with the Bureau of Economic and
Business Affairs and the Bureau of European and Eurasian
Affairs of the Department of State and the Department of the
Treasury, should seek private sector input regarding sanctions
policy with respect to the Russian Federation and the
implementation of and compliance with such sanctions imposed
with respect to the Russian Federation; and
(6) the Secretary of State, in coordination with the
Secretary of the Treasury, should continue robust diplomatic
engagement with allies and partners of the United States,
including the European Union, the G7, and Australia, to
encourage such allies and partners to impose such sanctions.
(b) Authorization of Appropriations.--
(1) In general.--There is authorized to be appropriated to
the Office of Sanctions Coordination of the Department of State
$15,000,000 for each of fiscal years 2024, 2025, and 2026 to
carry out this section.
(2) Supplement not supplant.--The amounts authorized to be
appropriated by paragraph (1) shall supplement and not supplant
other amounts authorized to be appropriated for the Office of
Sanctions Coordination.
SEC. 202. ASSESSMENT OF IMPACT OF UKRAINE-RELATED SANCTIONS ON THE
ECONOMY OF THE RUSSIAN FEDERATION.
(a) Report and Briefings.--At the times specified in subsection
(b), the President shall submit a report and provide a briefing to the
appropriate congressional committees on the impact on the economy of
the Russian Federation of sanctions imposed by the United States and
other countries with respect to the Russian Federation in response to
the unlawful invasion of Ukraine by the Russian Federation.
(b) Timing.--The President shall--
(1) submit a report and provide a briefing described in
subsection (a) to the appropriate congressional committees not
later than 90 days after the date of the enactment of this Act;
and
(2) submit to the appropriate congressional committees a
report described in subsection (a) every 180 days thereafter
until the date that is 5 years after such date of enactment.
(c) Elements.--Each report required by this section shall include--
(1) an assessment of--
(A) the impacts of the sanctions described in
subsection (a), disaggregated by major economic sector,
including the energy, aerospace and defense, shipping,
banking, and financial sectors;
(B) the macroeconomic impact of those sanctions on
Russian, European, and global economy market trends,
including shifts in global markets as a result of those
sanctions; and
(C) efforts by other countries or actors and
offshore financial providers to facilitate sanctions
evasion by the Russian Federation or take advantage of
gaps in international markets resulting from the
international sanctions regime in place with respect to
the Russian Federation; and
(2) recommendations for further sanctions enforcement
measures based on trends described in paragraph (1)(B).
SEC. 203. INFORMATION ON VOTING PRACTICES IN THE UNITED NATIONS WITH
RESPECT TO THE INVASION OF UKRAINE BY THE RUSSIAN
FEDERATION.
Section 406(b) of the Foreign Relations Authorization Act, Fiscal
Years 1990 and 1991 (22 U.S.C. 2414a(b)), is amended--
(1) in paragraph (4), by striking ``Assembly on'' and all
that follows through ``opposed by the United States'' and
inserting the following: ``Assembly on--
``(A) resolutions specifically related to Israel
that are opposed by the United States; and
``(B) resolutions specifically related to the
invasion of Ukraine by the Russian Federation.'';
(2) in paragraph (5), by striking ``; and'' and inserting a
semicolon;
(3) by redesignating paragraph (6) as paragraph (7); and
(4) by inserting after paragraph (5) the following:
``(6) an analysis and discussion, prepared in consultation
with the Secretary of State, of the extent to which member
countries supported United States policy objectives in the
Security Council and the General Assembly with respect to the
invasion of Ukraine by the Russian Federation; and''.
<all>
Introduced in House
Introduced in House
Referred to the Committee on Foreign Affairs, and in addition to the Committees on Rules, and Financial Services, 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.
Referred to the Committee on Foreign Affairs, and in addition to the Committees on Rules, and Financial Services, 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.
Referred to the Committee on Foreign Affairs, and in addition to the Committees on Rules, and Financial Services, 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.
Committee Consideration and Mark-up Session Held
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 40 - 2.
Llama 3.2 · runs locally in your browser
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line