HR 6894 117th Congress House International Affairs Congressional oversight Energy storage, supplies, demand Europe Foreign and international banking Foreign property Licensing and registrations Oil and gas Presidents and presidential powers, Vice Presidents Russia Sanctions

No Energy Revenues for Russian Hostilities Act of 2022

Introduced: March 3, 2022 Introduced by: Barr, Andy Republican · Kentucky See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Mar 2, 2022

Referred to the Committee on Foreign Affairs, and in addition to the Committee on 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.

Mar 2, 2022

Introduced in House

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Plain-English summary Congressional Research Service

No Energy Revenues for Russian Hostilities Act of 2022

This bill prohibits, with some exceptions, the Department of the Treasury from authorizing certain energy-related transactions that would otherwise be blocked by an executive order barring transactions related to specified harmful foreign activities of the Russian government.

The bill also revokes a license issued February 28, 2022, by the Office of Foreign Assets Control within Treasury that authorized certain transactions barred by the executive order.

The bill allows a waiver from the limitation on an energy transaction if the transaction involves funds owed to a Russian person and the funds are to be used for the sale of agricultural commodities, food, medicine, or medical devices. The bill terminates on the earlier of five years after its enactment, or 30 days after the President reports to Congress that Russia has ceased activities destabilizing the sovereignty and territorial integrity of Ukraine.