Bill > S3513

This bill, titled the "Decreasing Russian Oil Profits Act of 2025," aims to impose sanctions on foreign individuals and entities involved in trading Russian crude oil and petroleum products. Specifically, it directs the President to implement sanctions, using powers granted by the International Emergency Economic Powers Act (IEEPA), against any foreign person determined by the Secretary of the Treasury, in consultation with the Secretary of State, to be involved in purchasing, importing, or facilitating financial transactions related to Russian oil and petroleum products. This also includes those who materially assist such activities or serve as chief executive officers or board members of entities engaged in them. The bill allows for up to two types of exceptions to these sanctions, including for countries that isolate Russian funds and reduce their purchases of Russian oil by crediting payments to accounts used solely for agricultural commodities, food, medicine, or medical devices, provided they commit to significantly reducing their purchases and meet renewal requirements. Another exception permits purchases if a payment per barrel is deposited into an account established for the benefit of Ukraine, with strict guidelines for fund disbursement and transparency, including notification to Congress and a potential joint resolution of disapproval. A third exception is for countries providing significant economic or military support to Ukraine, also requiring periodic recertification. Additionally, there's a temporary exception for specific Russian ports for up to 270 days, with limitations on the total export capacity covered. Crucially, any exception will not apply to activities facilitating the maritime transport of Russian oil and petroleum products purchased above a price cap set by the Treasury, regardless of the service provider's location. These sanctions and provisions are set to terminate five years after the bill's enactment.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/3513/all-info