H.R. 4825 — No Illegal Oil from Russia Act of 2023

This bill directs the President to sanction foreign persons (i.e., individuals and entities) that do not comply with the Russian oil price cap policy. The Russian oil price cap policy is an agreement between the United States, the European Union (EU), Australia, and the Group of Seven (G7) countries to limit the use of services that support or enable Russian oil shipments above an agreed-upon price cap. The bill requires the President to block any transaction inside or within the control of the United States by a foreign person that has knowingly transported Russian oil in contravention of the Russian oil price cap policy. The sanctions shall not apply to a vessel under the jurisdiction of...