H.R. 2913 — Ukraine Support Act

This section states congressional findings on Russia's unprovoked invasion of Ukraine on February 24, 2022—including widespread war crimes such as the forced deportation of at least 19,000 Ukrainian children and over 800,000 Russian casualties—and expresses the sense of Congress that the United States condemns Russia's actions, reaffirms support for Ukraine's sovereignty within internationally recognized borders (including Crimea and Donbas), urges the immediate withdrawal of all Russian forces, demands the return of the kidnapped children, supports prosecution of Russian leaders for war crimes and genocide, and insists that Ukraine and European allies participate in any peace negotiations.

This section states congressional findings on the history, role, and importance of the North Atlantic Treaty Organization (NATO)—including its founding in 1949, Article 5 collective defense commitment invoked after the September 11, 2001, attacks, support for Ukraine, recent accessions by Finland and Sweden, and challenges from adversaries such as Russia, China, Iran, and North Korea—and expresses the sense of Congress reaffirming the United States' unwavering commitment to NATO and Article 5, supporting NATO's open door policy, honoring allied sacrifices in Afghanistan, urging all allies to meet or plan for 2% of gross domestic product defense spending by the Washington Summit, and promoting cooperation on advanced defense technologies, counterintelligence, and cybersecurity.

This section makes findings on Russia's abduction and forcible transfer of Ukrainian children—including at least 2,389 children as of March 22, 2022 (per Ukrainian authorities), an estimated 200,000 (per President Zelenskyy), and approximately 260,000 (per Secretary Blinken)—during its invasion of Ukraine, citing these actions as violations of the Genocide Convention. It expresses the sense of Congress that such abductions and illegal adoptions constitute genocide intended to erase Ukrainian identity, increase risks to children from trafficking and other harms, and that Russia bears full responsibility.

This section modifies the less developed country focus of the United States International Development Finance Corporation (DFC)—which mobilizes private sector capital for development projects in such countries—by (1) requiring the DFC to prioritize support under subchapter II of the BUILD Act (i.e., loans, loan guarantees, insurance, and equity investments) in Ukraine and in low-income or lower-middle-income less developed countries (previously, only the latter); and (2) exempting Ukraine from restrictions on providing such support in upper-middle-income less developed countries (previously, restricted unless the President certifies to congressional committees that it furthers U.S. national economic or foreign policy interests and produces significant developmental outcomes or benefits the poorest population). (Thus, the DFC may provide support in Ukraine without presidential certification.)

This section deems covered vessels eligible for insurance or reinsurance under the federal vessel war risk insurance program (chapter 539 of title 46, United States Code)—notwithstanding U.S. citizenship requirements in section 53902—if engaged in importing or exporting cargo to or from Ukraine during the five-year period beginning on the date of enactment. (The program provides hull, machinery, cargo, and liability coverage against war perils such as armed conflict where commercial insurance is unavailable or cost-prohibitive.) The section also waives restrictions in section 53903(a)(3)(B)–(D) (i.e., certain cargo exclusions) for such Ukraine-related cargo. It defines a covered vessel as one owned by a citizen (per criteria analogous to 46 U.S.C. 50501) of a NATO member country, Ukraine, or another country designated by the Secretary of State, in consultation with the Secretary of Transportation, in the interest of national security.

This section establishes in the Department of State the Insurance for Ukraine Initiative with five objectives: (1) bolstering confidence in Ukraine’s economic recovery from Russia’s invasion through war risk insurance; (2) encouraging European allies and partners to finance and invest in Ukraine’s recovery, including through war risk insurance; (3) promoting Ukraine’s economic integration with Europe and the United States and supporting its European Union accession; (4) coordinating outreach with private sector insurance companies on war risk insurance for Ukraine; and (5) working with Ukraine, international organizations, and Middle Eastern and African allies to ensure affordable grain and food shipments from Ukraine. The section further requires the Secretary of State to submit to the House Committee on Foreign Affairs and the Senate Committee on Foreign Relations, not later than one year after enactment and annually thereafter for the following three years, reports assessing progress toward these objectives and including related legislative proposals. It also directs the Secretary, in coordination with other relevant federal agencies, to provide diplomatic and political support to countries offering or supporting war risk insurance for Ukraine.

This section establishes within the Department of State a Special Coordinator for Ukrainian Reconstruction, appointed by the Secretary of State with private sector experience and knowledge of Ukraine and related foreign policy, who reports directly to the Secretary. The Special Coordinator assists in harnessing U.S. government agencies' tools for Ukraine's reconstruction, coordinating interagency cooperation for Ukraine's post-war recovery, and working with the U.S. International Development Finance Corporation to mobilize private capital.

This section (1) expresses the sense of Congress supporting restoration of Radio Free Europe/Radio Liberty (RFE/RL)—a U.S.-funded broadcaster of independent news to countries with restricted media freedom, including Ukraine and Russian periphery nations—to full capacity prior to any executive order attempting to shutter it; (2) authorizes $250 million for RFE/RL for FY2026; (3) authorizes RFE/RL to explore opening new bureaus to reach audiences on the Russian periphery; (4) directs RFE/RL to pursue initiatives to expand Russian-language programming and counter disinformation (e.g., evaluating disinformation prevalence, improving Ukraine bureau capacity, and enhancing digital services); and (5) requires the President to submit a report to specified congressional committees within 90 days of enactment assessing new bureau locations, staffing needs, and Russian government actions against RFE/RL.

This section directs the Secretary of State to use funds available in the Countering Russian Influence Fund (CRIF)—which supports U.S. efforts and those of allies to counter Russian malign influence operations—for (1) prioritizing assistance to Ukraine in detecting and combating disinformation from Russia and its proxies and (2) assisting Ukraine in developing new defense strategies and technologies. It further requires the Secretary to submit to the House Committee on Foreign Affairs and the Senate Committee on Foreign Relations, not later than 60 days after enactment, an unclassified strategy (with a possible classified annex) for countering Russian disinformation and supporting free and independent media in Ukraine. The strategy must include (A) a plan to assist Ukraine against Russian malign influence operations aimed at inflaming tensions and dividing society; (B) an assessment of effective media literacy programs in Ukraine with U.S. assistance recommendations; (C) a plan to help Ukraine detect and remove Russian troll farm, bot, and other divisive content; (D) recommendations to increase support for independent media outlets, including Radio Free Europe/Radio Liberty; and (E) recommendations to support independent media for Russian-speaking populations in Russian-occupied Crimea, the Donbas region, and throughout Ukraine.

This section establishes the Ukraine Reconstruction Trust Fund in the Treasury of the United States, to consist of amounts equivalent to net revenues received from taxes imposed under new IRC §892A and to be available, as provided in appropriations Acts, only to the Secretary of State for (1) reconstruction and rebuilding efforts in Ukraine, (2) humanitarian assistance to the people of Ukraine, (3) fostering long-term economic growth and private sector development in Ukraine, and (4) bolstering transparent and accountable governance of the Ukrainian economy. Assistance from the fund is subject to applicable requirements of the Foreign Assistance Act of 1961 (including those relating to administrative authorities, congressional notifications, and reporting), and the fund is not interest-bearing. Not later than one year after enactment and annually thereafter for three years, the Secretary of State must report to specified congressional committees (i.e., House and Senate Foreign Affairs/Relations, Ways and Means/Finance, and Appropriations Committees) on the use of fund amounts.

This section makes congressional findings on Russia's invasion of Ukraine, targeting of its energy infrastructure including the Zaporizhzhia Nuclear Power Station, occupation of nuclear facilities, and dominance of uranium conversion (20% worldwide as of 2021) and enrichment (46% capacity in 2020). It states the sense of Congress prioritizing U.S. then allied (e.g., Canada, Japan, UK, South Korea) nuclear products and services; promoting U.S.-ally cooperation on nuclear capacity building to counter Russian and Chinese influence while upholding nonproliferation, security, and safety standards; and continuing the Foundational Infrastructure for Responsible Use of Small Modular Reactor Technology program. This section requires the Secretary of State, in consultation with the Secretary of Energy and other relevant agency heads, to develop a strategy to strengthen U.S.-European nuclear energy cooperation and combat Russian malign influence, including the following elements: (1) assessment of efforts to increase U.S. nuclear industry participation in Europe and competitiveness of U.S., European, and partner technologies against Russian and Chinese alternatives; (2) overview of European reactor types (e.g., large light-water reactors, small modular light-water reactors, non-light-water reactors), their roles in reducing Russian energy influence by 2030, 2035, 2040, 2045, and 2050, deployment challenges (e.g., costs, supply chains, regulations), nonproliferation impacts, and opportunities for U.S./partner technologies; (3) overview of European fuel cycles (e.g., low/high-assay low-enriched uranium, spent fuel reprocessing) and implications for eliminating Russian market share in uranium services by 2030, long-term energy security, and nonproliferation/safety; (4) overview of U.S.-funded reactor designs and fuel infrastructure, their potential to reduce Russian market share in reactors and fuel services (short-, medium-, long-term), nonproliferation impacts, and use cases; (5) overview of U.S. diplomatic engagements on European nuclear energy; and (6) list of European countries with active nuclear programs, analyses of their policies, and existing U.S. cooperation areas.

This section extends the President's lend-lease authority under the Ukraine Democracy Defense Lend-Lease Act of 2022—which authorizes transfers, loans, or leases of defense articles to Ukraine and other Eastern European countries affected by Russia's invasion of Ukraine—through FY2028 (from FY2023). It further requires the Secretary of State, in consultation with the Secretary of Defense, to submit to Congress, not later than 90 days after any use of such authority, a report describing the defense articles loaned or leased and providing a strategy and timeline for their recovery and return.

This section authorizes through FY2026 direct loans under section 23 of the Arms Export Control Act for Ukraine and North Atlantic Treaty Organization (NATO) allies, notwithstanding section 23(c)(1) of such Act (which generally limits such loans to specified countries including Israel), with gross principal obligations not to exceed $8 billion. It makes available unobligated balances from Foreign Military Financing (FMF) appropriations for the costs of such loans and loan guarantees and applies the terms and conditions of section 2606 of the Ukraine Supplemental Appropriations Act of 2022 (division N of Public Law 117-103), including increasing a dollar limitation in subsection (b) to $8 billion (from $4 billion). Amounts repurposed under this section retain their prior congressional emergency designation pursuant to the Balanced Budget and Emergency Deficit Control Act of 1985, subject to presidential designation as an emergency requirement.

This section directs the Secretary of State to conduct programs building the capacity of the national militaries and border guard forces of the Baltic countries (i.e., Estonia, Latvia, and Lithuania) pursuant to the 2024 Bilateral Defense Cooperation Roadmaps for 2024–2028, covering integrated air and missile defense, maritime domain awareness, cyber defense, irregular warfare, participation in international military operations and exercises, infrastructure development, and training. It authorizes appropriations, in addition to previously authorized amounts, of (1) $30 million in Foreign Military Financing (FMF) grants under section 23 of the Arms Export Control Act (22 U.S.C. 2763) for each Baltic country and (2) $4 million in Nonproliferation, Anti-terrorism, Demining, and Related (NADR) programs for each Baltic country for FY2026 through FY2028. It further requires the Secretary to brief the Senate Committee on Foreign Relations and House Committee on Foreign Affairs within 120 days of enactment on the countries' most pressing security needs, a plan for fund disbursement, and analysis of support from European and other allied countries.

This section extends the Ukraine Security Assistance Initiative—under which the Department of Defense provides security assistance, including training and equipment from DoD stocks, to Ukraine—by (1) authorizing $300 million for FY2026 and $300 million for FY2027, and (2) extending the initiative through December 31, 2027 (from December 31, 2026).

This section directs the Secretary of State, in consultation with the Secretary of Defense, to submit to the Senate Committee on Foreign Relations and the House Committee on Foreign Affairs, not later than 90 days after enactment and every 90 days thereafter, a report that includes (1) a detailed description of military contributions made or planned by allied and partner countries, disaggregated by country and including types and quantities of platforms and systems provided; (2) a description and analysis of military capabilities identified as current Ukrainian operational needs; and (3) a description of U.S. efforts to meet those needs through transfers of U.S. arms and equipment or support for allied transfers. The report must be in unclassified form but may include a separate classified annex. The section defines "appropriate congressional committees" to include those two committees plus the House Permanent Select Committee on Intelligence and the Senate Select Committee on Intelligence.

This section directs the Director of National Intelligence, in coordination with the Secretary of State and Secretary of Defense, to submit to the appropriate congressional committees (i.e., House Committee on Foreign Affairs and Permanent Select Committee on Intelligence; Senate Committee on Foreign Relations and Select Committee on Intelligence) a classified report on U.S. intelligence support and cooperation with Ukraine, not later than 120 days after enactment and every 90 days thereafter. The report must include (1) a detailed description of current U.S. intelligence support and cooperation to and with Ukrainian military and intelligence services; (2) a description and analysis of the consequences of ceasing such support, including as related to targeting, battlefield effectiveness, early warning capabilities, counterintelligence, and cybersecurity; and (3) a description of U.S. efforts and initiatives currently underway or planned to increase Ukrainian intelligence, counterintelligence, and cybersecurity capabilities.

This section directs the President, not later than 15 days after enactment and at least every 90 days thereafter, to determine whether the Russian Federation or any proxy thereof is (1) conducting a war of aggression against Ukraine, (2) refusing to sincerely and actually negotiate a peace agreement with Ukraine, or (3) acting in violation of a negotiated peace agreement with Ukraine.

This section requires the President, upon an affirmative determination under section 301 and not later than 15 days thereafter, to impose sanctions described in section 317 with respect to at least three of 13 specified Russian financial institutions (Sberbank, VTB, Gazprombank, VEB.RF, the Russian Direct Investment Fund, Credit Bank of Moscow, Alfa Bank, Rosselskhozbank, FC Bank Otkritie, Promsvyazbank, Sovcombank, Transkapitalbank, and the Central Bank of the Russian Federation). The President may impose sanctions under section 310(a)(1) on any subsidiary or successor entity of those institutions. This section further requires the President, not later than 30 days after such determination and every 90 days thereafter, to submit to the appropriate congressional committees a list of significant financial institutions owned or operated by the Russian government that warrant sanctions for U.S. national security and, upon submission, to impose sanctions under section 310(a)(1) on each listed entity.

This section requires the President, upon making an affirmative determination under section 301 and not later than 15 days thereafter, to impose the sanctions described in section 317 on all Russian companies operating primarily in the following sectors: (1) oil and gas extraction, refinement, or production; (2) coal extraction, mining, refinement, or production; or (3) mineral extraction and processing.

This section requires the President, upon an affirmative determination under section 301 and not later than 15 days thereafter, to impose the sanctions described in section 317 on 22 specified senior officials of the Russian Federation (i.e., the President and Prime Minister; the Ministers and Deputy Ministers of Defense, Foreign Affairs, Transport, Energy, Finance, and Industry and Trade; the Chief of the General Staff of the Armed Forces; and the Commanders-in-Chief or Commanders of the Land Forces, Aerospace Forces, Navy, Airborne Forces, Strategic Rocket Forces, Special Operations Forces, and Logistical Support). Additionally, not later than 30 days after such determination and every 90 days thereafter, the President must submit to the appropriate congressional committees a list of foreign persons determined to be senior officials of the Russian armed forces leading operations described in section 302, or senior government officials (including from intelligence agencies or security services) with significant roles in planning or implementing such operations who warrant sanctions in the U.S. national security interest; upon submission of each list, the President must impose the sanctions described in section 310 on each listed person.

This section requires the President, upon making an affirmative determination under section 301 and not later than 15 days thereafter, to impose sanctions described in section 317 on all foreign persons that knowingly participate in the construction, maintenance, or repair of a tunnel or bridge connecting the Russian mainland with the Crimean peninsula.

This section requires the President, upon an affirmative determination under section 301 and not later than 15 days thereafter, to impose the sanctions described in section 317 on all foreign persons that have endangered the integrity or safety of, or undermined Ukrainian operational control over, the Zaporizhzhia Nuclear Power Station in southeastern Ukraine since Russia's full-scale invasion of Ukraine. The section exempts from such sanctions any foreign persons seeking to reestablish Ukrainian operational control of the power station or surrounding region.

This section requires the President, upon an affirmative determination under section 301 and not later than 15 days thereafter, to impose the sanctions described in section 317 on (1) Rosatom, (2) Rosatom subsidiaries, and (3) any foreign person that knowingly engages, directly or indirectly, in a significant transaction for nuclear reactor construction or related services with Rosatom. It authorizes the President to waive such sanctions for a transaction or transactions involving a U.S. person, foreign person, or foreign financial institution if the transaction is necessary for medical isotope or industrial isotope production, domestic production is insufficient to meet U.S. requirements, and the President certifies to the appropriate congressional committees that the United States is taking measurable steps to develop non-Russian supply chains.

This section requires the President, upon an affirmative determination under section 301 and not later than 15 days thereafter, to impose sanctions described in section 317 on any foreign vessel that knowingly transports Russian oil in contravention of the Russian oil price cap policy, with an exception for provisions intended for crew safety and care, protection of human life, or vessel maintenance to prevent environmental or other significant damage. This section further directs the Secretaries of State and the Treasury to jointly submit to the House Committee on Foreign Affairs and the Senate Committee on Foreign Relations, not later than 60 days after enactment, a strategy to enhance international compliance with the Russian oil price cap policy that includes (1) an overview of general compliance; (2) a list of countries known to have purchased significant quantities of Russian oil above the G7-agreed price cap; (3) known methods used by such countries to avoid detection; (4) an assessment of possible U.S. incentives to encourage compliance; (5) an assessment of whether additional sanctions, including secondary sanctions, would enhance compliance; (6) descriptions of participating countries' views on whether to lower the price cap; and (7) descriptions of U.S. diplomatic engagement with participating countries on the current cap level, including efforts to encourage lowering it.

This section requires the President, upon an affirmative determination under section 301 and not later than 15 days thereafter, to impose the sanctions described in section 317 on any global financial messaging service (i.e., SWIFT or similar networks) that does not cease providing financial messaging services to financial institutions designated under section 302. The section specifies that enabling or facilitating such access includes acting as an intermediary financial institution with access to those messaging services.

This section directs the President, upon making an affirmative determination under section 302 and not later than 30 days thereafter, to prohibit all transactions by U.S. persons involving sovereign debt of the Government of the Russian Federation issued on or after the date of enactment, including governmental bonds.

This section requires the President, upon an affirmative determination under section 301 and not later than 15 days thereafter, to impose sanctions described in section 317 on specified foreign persons and financial institutions facilitating North Korea-Russia military cooperation in Russia's war against Ukraine, including: (1) any foreign person responsible for or facilitating the transfer or sale of arms or material support from North Korea to Russia; (2) any foreign person that knowingly imports, exports, or reexports to, from, or into North Korea any goods, services, or technology for weapons usable by Russian forces or proxies; (3) any foreign financial institution that knowingly facilitates a significant transaction or provides significant financial services for a person described in (1) or (2); (4) any foreign person engaging in a significant transaction related to arms or material support with a person described in (1) or (2) or an institution described in (3); and (5) any foreign person assisting in the logistical supply or movement of North Korean personnel, arms, or material support. This section further requires the President to submit to the appropriate congressional committees, not later than 90 days after enactment and every 180 days thereafter, an unclassified report (with a possible classified annex) describing significant North Korean activities supporting Russia and its proxies, including: (1) the number of North Korean troops sent to fight in Ukraine, their casualties, and their battlefield impact; (2) the identity and nationality of persons and financial institutions sanctioned under section 317; (3) a description of their conduct; (4) an assessment of foreign government material support to North Korea for these activities; and (5) a U.S. strategy to counter these efforts, including engaging foreign governments.

This section requires the President, upon making an affirmative determination under section 301 and not later than 15 days thereafter, to impose the sanctions described in section 317 on all foreign persons that have directed or in any way participated in the kidnapping and wrongful patriation of Ukrainian children.

This section imposes Export Administration Regulations (EAR) license requirements on foreign-produced items determined under section 301 to be direct products of specified U.S.-origin technology or software (or produced by plants or major components that are such direct products) if destined for, incorporated into, or used in EAR-controlled items produced in or destined to Russia, or involving the Russian government. It applies a presumption of control to such items and excludes food, medicine, medical devices (EAR99 or not on the Commerce Control List); and services, software, or hardware ordinarily incident to communications (EAR99; ECCN 5A992.c or 5D992.c under 15 C.F.R. § 740.17; or under Commerce or Treasury general license), except for Iran government end-users. This section further directs the Secretary of Commerce, within 60 days of enactment and in consultation with the Secretaries of State and Defense and the Director of National Intelligence, to develop and submit to congressional committees (unclassified form, with possible classified annex) a strategy to prevent illegal U.S. person exports to Iran of unmanned aircraft system (UAS) technologies, including microcontrollers, voltage regulators, digital signal controllers, GPS modules, and microprocessors. The strategy must include processes to identify such current/emerging technologies, U.S. and foreign manufacturers/proliferators, and third-party distributors/resellers circumventing controls; and to engage U.S. manufacturers with updates on illicit distributors. This section also directs the Secretary of State, in coordination with the Secretaries of Commerce and Defense and the Director of National Intelligence, to develop a strategy to prevent exports to Iran from the United States and allies/partners of UAS technologies (including the microelectronics listed above), including a process to identify foreign manufacturers of such technologies.

This section directs the President, not later than 15 days after an affirmative determination under section 301, to impose duties of not less than 500% ad valorem on all goods and services imported from Russia notwithstanding any other provision of law. The section further requires the President to submit to the House Ways and Means Committee and Senate Finance Committee, not later than 60 days after such determination, a report on the impact of these tariffs on exports to the United States.

This section amends the Ending Importation of Russian Oil Act—which banned imports of Russian crude oil and petroleum products—to prohibit importation into the United States of all products classified under chapter 27 of the Harmonized Tariff Schedule (i.e., mineral fuels, oils, and distillation products) produced at refineries outside Russia that use Russian-origin crude oil. (Thus, this closes a loophole allowing imports of such refined products processed abroad.)

This section imposes a tax equal to 100% on disqualified income (i.e., interest or dividends payable with respect to assets blocked under the International Emergency Economic Powers Act) of specified foreign governments (i.e., Russia and Belarus, as defined under IRC §892). It requires any person having control, receipt, custody, disposal, or payment of such income to withhold the tax; treats the withholding requirement as part of IRC chapter 3's withholding rules; applies notwithstanding sanctions authorities, treaties, or other laws; and takes effect for income received after enactment (not later than 15 days after an affirmative determination under section 301 of this Act).

This section establishes sanctions against a sanctioned foreign person, including (1) blocking all property and interests in property in the United States, coming within the United States, or in the possession or control of a U.S. person, using powers granted by the International Emergency Economic Powers Act; (2) in the case of an alien, inadmissibility to the United States, ineligibility for visas, admission, parole, or other benefits under the Immigration and Nationality Act, and revocation of current visas or entry documentation with immediate effect that automatically cancels any other valid visas or documentation in the alien's possession; and (3) directing the U.S. executive director of each international financial institution to oppose any loan, loan guarantee, or equity investment that would directly or indirectly benefit the sanctioned person.

This section authorizes the President to exercise all authorities under sections 203 and 205 of the International Emergency Economic Powers Act (IEEPA; 50 U.S.C. 1702, 1704)—including investigating, regulating, or prohibiting foreign exchange transactions and blocking, confiscating, or otherwise controlling property of foreign countries or nationals—to implement this title; requires the President to issue necessary regulations, licenses, and orders; and applies civil and criminal penalties under IEEPA section 206 (50 U.S.C. 1705) to violations, attempts, conspiracies, or caused violations of this title or related measures.

This section establishes exceptions to sanctions under this title, including—(1) no application of sanctions described in section 317(2) to the admission or parole of an alien if necessary to comply with the Agreement regarding the Headquarters of the United Nations (signed at Lake Success on June 26, 1947, and entered into force November 21, 1947) or other international obligations; (2) no sanctions on transactions or the facilitation of transactions for the sale of agricultural commodities, food, medicine, or medical devices; the provision of humanitarian assistance; or financial transactions relating to humanitarian assistance; and (3) no application to authorized U.S. intelligence, law enforcement, or national security activities. This section further authorizes the President to waive sanctions under this title with respect to a person if the President determines the waiver is extraordinarily vital to U.S. national security and notifies the appropriate congressional committees at least 15 days in advance.

This section authorizes the President to terminate sanctions, export controls, duties, prohibitions, or penalties imposed under this title upon certifying to Congress that the Russian Federation has ceased conducting a war of aggression against Ukraine or acting in violation of a negotiated peace agreement with Ukraine. The section requires the President to immediately reimpose all such previously terminated measures if the Russian Federation restarts a war of aggression against Ukraine or violates the peace agreement.

This section requires the President, before terminating the application of, waiving for a specific person, or taking a licensing action that significantly alters U.S. foreign policy with respect to Russia involving specified sanctions, export controls, duties, or prohibitions on Russia (under this Act and Executive Orders 13849, 13883, 14024, 14039, 14065, 14066, 14068, 14071, and 14114), to submit a report to the appropriate congressional committees and leadership describing the proposed action, its rationale, and whether it significantly alters such policy. Reports on actions intended to significantly alter policy must also describe the alteration, its anticipated effect on U.S. national security interests, and the original policy objectives of the affected measures (with banking committees able to request the latter two elements for non-significant actions); proprietary information may be included only with confidentiality assurances. During a 30-calendar-day period following report submission, the Senate Committee on Banking, Housing, and Urban Affairs and House Committee on Financial Services review non-significant actions, while the Senate Committee on Foreign Relations and House Committee on Foreign Affairs review significant actions (via hearings, briefings, or other means); routine licenses are exempt.

This section defines terms used in this title, including: (1) "admission," "admitted," and "alien," as given in section 101 of the Immigration and Nationality Act (8 U.S.C. 1101); (2) "appropriate committees of Congress" as the Senate Committees on Foreign Relations and Banking, Housing, and Urban Affairs, and the House Committees on Foreign Affairs and Financial Services; (3) "financial institution" as specified in certain subparagraphs of 31 U.S.C. 5312(a)(2); (4) "foreign financial institution," as prescribed by Treasury regulations; (5) "foreign person" as an individual or entity that is not a U.S. person; (6) "knowingly" as having actual knowledge or should have known of specified conduct, circumstance, or result; (7) "United States person" as a U.S. citizen, lawful permanent resident, or entity organized under U.S. laws (including foreign branches); and (8) "war of aggression," implicated by certain assaults, blockades, drone/missile attacks, or cyber attacks with physical repercussions in Ukraine's sovereign territory occurring in the 30 days prior to a sanctions trigger determination.