3.0.0 3877 2023-08-09T15:30:26Z 2023-08-09T15:30:26Z Senate S 2022-03-17 117 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2022-03-17T19:10:38Z 2022-03-17 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2022-03-17 Introduced in Senate IntroReferral 10000 9 Library of Congress R000595 Sen. Rubio, Marco [R-FL] Marco Rubio R FL N Y000064 Sen. Young, Todd [R-IN] Todd Young R IN C. 2022-03-17 True S001217 Sen. Scott, Rick [R-FL] Rick Scott R FL 2022-03-17 True H001089 Sen. Hawley, Josh [R-MO] Josh Hawley R MO 2022-03-21 False S001184 Sen. Scott, Tim [R-SC] Tim Scott R SC 2022-04-05 False International Affairs Asia Bank accounts, deposits, capital China Congressional oversight Europe Foreign and international banking Foreign property Presidents and presidential powers, Vice Presidents Russia Sanctions War and emergency powers International Affairs 00 2022-03-17 Introduced in Senate 2023-08-09T15:21:46Z Crippling Unhinged Russian Belligerence and Chinese Involvement in Putin's Schemes Act of 2022 or the CURB CIPS Act of 2022

This bill imposes sanctions on any Chinese financial institution that uses China's Cross-Border Interbank Payment System or Russia's System for Transfer of Financial Messages to conduct transactions with any Russian financial institution or financial institution affiliated with an entity holding itself out to be the government of (1) the Republic of South Ossetia- the State of Alania, (2) the Donetsk People's Republic, (3) the Luhansk People's Republic, (4) the Republic of Abkhazia, or (5) the Pridnestrovian Moldavian Republic.

For the purposes of this bill, a Chinese or Russian financial institution is one organized under the laws of, located in, or owned or controlled by China or Russia. Similarly, a financial institution is affiliated with one of the named entities if it is organized under the laws of, located in territory controlled by, or owned or controlled by such an entity.

]]> CURB CIPS Act of 2022 Display Title CURB CIPS Act of 2022 Short Title(s) as Introduced CURB CIPS Act of 2022 Introduced in Senate IS Short Title(s) as Introduced Crippling Unhinged Russian Belligerence and Chinese Involvement in Putin’s Schemes Act of 2022 Introduced in Senate IS Official Title as Introduced A bill to require the imposition of sanctions with respect to Chinese financial institutions that clear, verify, or settle transactions with Russian or Russian-controlled financial institutions. Introduced in Senate IS Introduced in Senate 2022-03-17T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s3877is/xml/BILLS-117s3877is.xml 2022-03-17 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.