3.0.0 4079 2023-03-08T20:12:05Z 2023-03-08T20:12:05Z Senate S 2022-04-25 117 ssfr00 Foreign Relations Committee Senate Standing Referred to 2022-04-25T22:55:37Z Russia and Belarus SDR Exchange Prohibition Act of 2022 117 6899 HR 2022-10-04 Became Public Law No: 117-185. Related bill CRS 2022-04-25 ssfr00 Foreign Relations Committee Senate Read twice and referred to the Committee on Foreign Relations. IntroReferral 2022-04-25 Introduced in Senate IntroReferral 10000 9 Library of Congress S001217 Sen. Scott, Rick [R-FL] Rick Scott R FL N M001183 Sen. Manchin, Joe, III [D-WV] Joseph Manchin D WV 2022-04-25 True International Affairs Belarus Conflicts and wars Congressional oversight Currency Europe International monetary system and foreign exchange International organizations and cooperation Military operations and strategy Russia Sovereignty, recognition, national governance and status Ukraine International Affairs 00 2022-04-25 Introduced in Senate 2022-05-10T17:54:55Z Russia and Belarus SDR Exchange Prohibition Act of 2022

This bill prohibits the Department of the Treasury from engaging in any transaction involving the exchange of Special Drawing Rights (SDRs) held by Russia or Belarus.

The SDR is an international reserve asset maintained by the International Monetary Fund (IMF) based on contributions from IMF member countries. SDRs may be exchanged between member countries and may also be exchanged for currencies.

Treasury must also (1) vigorously advocate for IMF member countries to prohibit transactions involving the exchange of SDRs held by Russia or Belarus, and (2) direct U.S. representatives to the IMF to oppose any allocation of SDRs to Russia or Belarus.

The bill's provisions shall be in effect until the earlier of (1) five years after this bill's enactment, (2) 30 days after the President reports to Congress that the governments of Russia and Belarus have ceased aggression directed at undermining Ukraine's sovereignty and territorial integrity, or (3) the date on which the President reports to Congress that termination of the provisions is in the national interest of the United States.

]]> Russia and Belarus SDR Exchange Prohibition Act of 2022 Display Title Russia and Belarus SDR Exchange Prohibition Act of 2022 Short Title(s) as Introduced Russia and Belarus SDR Exchange Prohibition Act of 2022 Introduced in Senate IS Official Title as Introduced A bill to prohibit the Secretary of the Treasury from engaging in transactions involving the exchange of Special Drawing Rights issued by the International Monetary Fund that are held by the Russian Federation or Belarus. Introduced in Senate IS Introduced in Senate 2022-04-25T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s4079is/xml/BILLS-117s4079is.xml 2022-04-25 Read twice and referred to the Committee on Foreign Relations. 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.