US HB7506

H.R. 7506 - Decreasing Russian Oil Profits Act of 2026

• Mandatory sanctions begin 90 days after enactment on foreign persons who purchase, import, or facilitate financial transactions involving Russian crude oil or petroleum products, including CEOs and board members of sanctioned entities

• Sanctions block all property and property interests in the United States under International Emergency Economic Powers Act authorities; provisions sunset 5 years after enactment

• President may apply up to 2 of 4 exception frameworks: countries that isolate Russian funds in special accounts and commit to reducing purchases; per-barrel payments deposited into a U.S.-established account for Ukraine's benefit; countries providing significant economic or military support to Ukraine; or temporary port-specific exceptions for 270 days covering no more than half of Russia's 2024 oil export capacity

• Funds collected for Ukraine may only be used for purposes under the REPO for Ukrainians Act and Ukrainian defense article purchases, with disbursements required at least every 90 days and 15-day congressional notification before transfers

• No exceptions apply to Russian oil sold above Treasury-determined price caps, regardless of whether service providers are based in G7 countries; sanctions apply to transport, trading, financing, shipping, insuring, and customs brokering activities