US SB327

Denies U.S. taxpayers the foreign tax credit for any taxes paid or accrued to the Russian Federation, beginning 30 days after enactment

Prohibits deductions for Russian taxes paid or accrued starting 90 days after enactment

Restrictions remain in effect until normal trade relations with Russia are restored under the Suspending Normal Trade Relations with Russia and Belarus Act

Amends Section 901(j) of the Internal Revenue Code of 1986 to add Russia to the list of countries subject to foreign tax credit denial

Provisions apply regardless of any existing U.S. treaty obligations with Russia