Ukraine Reconstruction Accountability and Transparency Act

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4341 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 4341

 To direct the United States Executive Directors at the international 
financial institutions to use voice, vote, and influence of the United 
  States to prevent companies from countries that actively or tacitly 
  supported the Russian invasion of Ukraine from benefitting from its 
                reconstruction, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 23, 2023

Mr. Luetkemeyer (for himself, Mr. Donalds, Mr. Barr, Mr. Nunn of Iowa, 
Mr. Huizenga, Ms. De La Cruz, Mrs. Kim of California, and Mr. Sessions) 
 introduced the following bill; which was referred to the Committee on 
                           Financial Services

_______________________________________________________________________

                                 A BILL


 
 To direct the United States Executive Directors at the international 
financial institutions to use voice, vote, and influence of the United 
  States to prevent companies from countries that actively or tacitly 
  supported the Russian invasion of Ukraine from benefitting from its 
                reconstruction, 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.

    This Act may be cited as the ``Ukraine Reconstruction 
Accountability and Transparency Act''.

SEC. 2. USE OF UNITED STATES INFLUENCE IN INTERNATIONAL FINANCIAL 
              INSTITUTIONS TO PREVENT COMPANIES FROM COUNTRIES THAT 
              ACTIVELY OR TACITLY SUPPORTED THE RUSSIAN INVASION OF 
              UKRAINE FROM BENEFITTING FROM ITS RECONSTRUCTION.

    (a) In General.--The Secretary of the Treasury shall instruct the 
United States Executive Director at each international financial 
institution (as defined in section 1701(c)(2) of the International 
Financial Institutions Act) to use voice, vote, and influence of the 
United States to prevent their respective institution from entering 
into a contract for the reconstruction of Ukraine with any company 
that--
            (1) is located or has operations in--
                    (A) China, Belarus, Eritrea, Mali, Nicaragua, North 
                Korea, Russia, or Syria;
                    (B) Algeria, Angola, Armenia, Bangladesh, Bolivia, 
                Burundi, Central African Republic, Republic of Congo, 
                Cuba, El Salvador, Ethiopia, Gabon, Guinea, India, 
                Iran, Kazakstan, Kyrgyztan, Laos, Mongolia, Mozambique, 
                Namibia, Pakistan, South Africa, Sri Lanka, Sudan, 
                Tajikistan, Togo, Uganda, Uzbekistan, Vietnam, and 
                Zimbabwe; or
                    (C) any other country whose government has provided 
                material or diplomatic support for the Russian invasion 
                of Ukraine; or
            (2) would have, as a subcontractor on such a contract, a 
        company described in paragraph (1).
    (b) Waiver Authority.--The Secretary of the Treasury may waive 
subsection (a) with respect to a country specified in subsection 
(a)(1)(B) if, after the date of the enactment of this section, the 
government of the country--
            (1) takes public action to voice the opposition of the 
        government to the Russian invasion of Ukraine, including by 
        voting in the affirmative on a United Nations General Assembly 
        Resolution that expresses that opposition; or
            (2) provides material support to the efforts of the 
        Government of Ukraine to evict Russian forces from the 
        sovereign territory of Ukraine.
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