HR2548-119

What This Bill Does

The Sanctioning Russia Act is a broad escalation package that activates after a covered presidential determination tied to Russia refusing good-faith negotiations for a lasting peace with Ukraine. It requires blocking sanctions and visa restrictions on senior Russian government and military officials, foreign persons supporting Russia's armed forces or undermining Ukraine, oligarchs, and sanctions evaders. It directs sanctions against Bank of Russia, Sberbank, VTB Bank, Gazprombank, Russian government-owned financial institutions, directors, officers, and shareholders, and entities owned by or affiliated with the Russian government. It bars U.S. persons and financial institutions from transactions, fund transfers, investments, and Russian energy-sector activity; cuts sanctioned Russian banks off from global financial messaging systems; prohibits Russian-origin uranium imports; raises duties on Russian goods and services to at least 500 percent ad valorem; applies CAATSA sanctions; and imposes 500 percent duties on countries buying Russian-origin oil, uranium, natural gas, petroleum products, or petrochemicals, subject to a one-time national-security waiver. The bill preserves humanitarian, intelligence, and international-organization exceptions and lets sanctions terminate only after Russia enters a peace agreement with Ukraine and covered actors cease prohibited conduct.

Who Benefits and How

Ukraine benefits because the bill ties sweeping sanctions relief to a peace agreement and cessation of activities undermining Ukrainian sovereignty. U.S. sanctions officials benefit from mandatory triggers, named Russian targets, and recurring 90-day sanction review duties. Domestic uranium and energy competitors benefit if Russian-origin imports and investment channels are cut off or burdened by 500 percent duties. Humanitarian aid providers benefit from explicit exceptions for medical and humanitarian assistance to the Russian people.

Who Bears the Burden and How

Russian government officials, military leaders, oligarchs, banks, and state-linked companies face asset blocking, transaction bans, visa restrictions, and messaging-system cutoffs. U.S. financial institutions must block investments, transfers, correspondent accounts, and other transactions involving targeted Russian entities or officials. Importers of Russian-origin goods, services, uranium, oil, gas, and petroleum products face prohibitions or duties of at least 500 percent ad valorem. Countries continuing to buy Russian-origin oil, uranium, natural gas, petroleum products, or petrochemicals can face 500 percent U.S. duties on their goods and services.

Key Provisions

• Requires sanctions on Russian officials, military leaders, oligarchs, supporters of Russian forces, and sanctions evaders after a covered determination.
• Blocks Russian government-affiliated financial institutions and restricts U.S. correspondent and payable-through accounts.
• Prohibits fund transfers, energy exports, energy-sector investments, financial messaging services, and uranium imports tied to Russia.
• Requires at least 500 percent duties on Russian-origin imports and on imports from countries buying Russian-origin energy or uranium.