Skip to main content
HR 6899 117th Congress House International Affairs Belarus Conflicts and wars Currency Europe International monetary system and foreign exchange International organizations and cooperation Military operations and strategy Russia Sovereignty, recognition, national governance and status Ukraine

Russia and Belarus SDR Exchange Prohibition Act of 2022

Introduced: March 2, 2022 Introduced by: Hill, J. French Republican · Arkansas See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 24 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 4, 2022
Became Public Law No: 117-185.
Oct 4, 2022
Signed by President.
Sep 28, 2022
Presented to President.
Sep 22, 2022
Message on Senate action sent to the House.
Sep 21, 2022
Passed Senate without amendment by Unanimous Consent. (consideration: CR S4940)
Sep 21, 2022
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.
Jul 21, 2022
Placed on Senate Legislative Calendar under General Orders. Calendar No. 452.
Jul 21, 2022
Committee on Foreign Relations. Reported by Senator Menendez without amendment. Without written report.
Jul 19, 2022
Committee on Foreign Relations. Ordered to be reported without amendment favorably.
May 12, 2022
Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
May 11, 2022
Motion to reconsider laid on the table Agreed to without objection.
May 11, 2022
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 417 - 2 (Roll no. 162). (text: 05/10/2022 CR H4754)
May 11, 2022
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 417 - 2 (Roll no. 162).
May 11, 2022
Considered as unfinished business. (consideration: CR H4840-4841)
May 10, 2022
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
May 10, 2022
DEBATE - The House proceeded with forty minutes of debate on H.R. 6899.
May 10, 2022
Considered under suspension of the rules. (consideration: CR H4754-4755)
May 10, 2022
Mr. Garcia (IL) moved to suspend the rules and pass the bill, as amended.
May 10, 2022
Placed on the Union Calendar, Calendar No. 236.
May 10, 2022
Reported (Amended) by the Committee on Financial Services. H. Rept. 117-316.
Mar 17, 2022
Ordered to be Reported in the Nature of a Substitute by Voice Vote.
Mar 17, 2022
Committee Consideration and Mark-up Session Held.
Mar 2, 2022
Referred to the House Committee on Financial Services.
Mar 2, 2022
Introduced in House
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
May 11, 2022 House · vote #162 On Motion to Suspend the Rules and Pass, as Amended Passed 417–2 See who voted →
 Plain-English summary Congressional Research Service

Russia and Belarus SDR Exchange Prohibition Act of 2022

This act prohibits the Department of the Treasury from engaging in any transaction involving the exchange of Special Drawing Rights (SDRs) held by Russia or Belarus and requires Treasury to take actions to oppose financial assistance to Russia or Belarus.

The SDR is an international reserve asset maintained by the International Monetary Fund (IMF) based on contributions from IMF member countries. SDRs may be exchanged between member countries and may also be exchanged for currencies.

Treasury must also (1) vigorously advocate for IMF member countries to prohibit transactions involving the exchange of SDRs held by Russia or Belarus, and (2) direct U.S. representatives to each international financial institution to oppose providing financial assistance to Russia or Belarus except to address the basic human needs of their civilian populations.

The act's provisions shall be in effect until the earlier of (1) five years after this act's enactment, or (2) 30 days after the President reports to Congress that the governments of Russia and Belarus have ceased destabilizing activities directed at Ukraine's sovereignty and territorial integrity. The President may also waive the provisions upon reporting to Congress that doing so is in the national interest of the United States.

What's happening now October 4, 2022

Became Public Law No: 117-185.

 Committees of jurisdiction 2
 Cosponsors 11
All 11 Democratic 2 Republican 9