To secure a peaceful resolution to the Russia-Ukraine conflict by requiring the Secretary of the Treasury to prohibit, or impose strict conditions on, the opening or maintaining in the United States of a correspondent account or a payable-through account by certain foreign financial institutions, and for other purposes.
Sponsors
Legislative Progress
ReportedAdditional sponsors: Mr. Barrett, Mr. Conaway, and Mr. Suozzi
Reported with an amendment, committed to the Committee of the …
Mr. Nunn of Iowa (for himself and Mr. Gottheimer) introduced …
Summary
What This Bill Does
Mandates Treasury impose banking sanctions on Russia within 180 days if no peace settlement with Ukraine is reached. Responds to continued Russian attacks despite calls for ceasefire.
Who Benefits and How
- Ukraine gains pressure mechanism against Russian aggression
- Peace advocates receive enforcement tool tied to settlement
- U.S. interests protected through mandated response to continued attacks
Who Bears the Burden and How
- Russian banking system faces U.S. sanctions if attacks continue
- Treasury Department must prescribe regulations within 180 days
- U.S. financial institutions must comply with new restrictions
Key Provisions
- Sanctions within 180 days of enactment
- Prohibit or impose strict conditions on Russian bank access
- Triggered by failure to reach peace settlement
- Cites Presidents own calls for peace as justification
Evidence Chain:
This summary is derived from the structured analysis below. See "Detailed Analysis" for per-title beneficiaries/burden bearers with clause-level evidence links.
Primary Purpose
Requires sanctions on Russian banking if Russia does not reach peace agreement with Ukraine
Policy Domains
Legislative Strategy
"Compel peace negotiations through mandatory banking sanctions threat"
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_secretary"
- → Secretary of the Treasury
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology