Bill > HR4346

This bill, known as the Preventing the Escalation of Armed Conflict in Europe (PEACE) Act of 2025, aims to impose strict financial sanctions on Russia in response to its continued military aggression against Ukraine. The legislation requires the Secretary of the Treasury to prohibit or impose strict conditions on foreign financial institutions maintaining correspondent or payable-through accounts in the United States if they provide significant financial services to specific Russian entities or persons designated under existing sanctions. The bill mandates that within 180 days, the Treasury must create regulations targeting financial institutions that support sanctioned Russian individuals, entities in the energy sector, or those subject to specific executive orders. The act includes significant penalties for violations, with potential civil fines up to $377,700 or twice the transaction value, and criminal penalties including fines up to $1,000,000 and potential imprisonment for up to 20 years. Additionally, the bill requires the Treasury to report on major Russian energy companies like Gazprom, Rosneft, and Lukoil, and allows for the seizure and transfer of certain Russian financial assets to a Ukraine Support Fund. The President may temporarily waive certain provisions if they determine it serves national interests or could potentially help resolve the conflict. The act will automatically terminate either 30 days after the President certifies Russia has ceased destabilizing Ukraine or after five years from its enactment.

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https://www.congress.gov/bill/119th-congress/house-bill/4346/all-info