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US HB4301
Bill
Status
7/7/2025
Primary Sponsor
Zachary Nunn
Click for details
AI Summary
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Secretary of the Treasury must issue regulations within 180 days to prohibit or restrict U.S. correspondent and payable-through accounts for foreign financial institutions that knowingly provide significant financial services to sanctioned Russian persons or entities operating in Russia's energy sector
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Within 90 days, Treasury must report to Congress on whether Gazprom, Rosneft, and Lukoil qualify as foreign persons operating in Russia's energy sector subject to sanctions
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President may waive sanctions requirements for up to 180 days at a time if the waiver advances resolution of the Russia-Ukraine conflict or serves U.S. national interests, with required reporting to Congress
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Violations subject to penalties under the International Emergency Economic Powers Act (50 U.S.C. 1705)
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Act terminates either 30 days after the President certifies Russia has ceased destabilizing activities regarding Ukraine's sovereignty and territorial integrity, or 5 years after enactment, whichever occurs first
Legislative Description
PEACE Act of 2025 Preventing the Escalation of Armed Conflict in Europe Act of 2025
International affairs
Last Action
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.
7/7/2025