[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4768 Referred in Senate (RFS)]

<DOC>
118th CONGRESS
  2d Session
                                H. R. 4768


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                   IN THE SENATE OF THE UNITED STATES

                            January 16, 2024

Received; read twice and referred to the Committee on Foreign Relations

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                                 AN ACT


 
To require the Secretary of the Treasury to instruct the United States 
  Executive Directors at the international financial institutions to 
 advocate for investment in projects that decrease reliance on Russia 
                     for agricultural commodities.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``No Russian Agriculture Act''.

SEC. 2. UNITED STATES ADVOCACY FOR INVESTMENT IN PROJECTS THAT DECREASE 
              RELIANCE ON RUSSIA FOR AGRICULTURAL COMMODITIES.

    (a) In General.--Title XIV of the International Financial 
Institutions Act (22 U.S.C. 262n-262n-3) is amended by adding at the 
end the following:

``SEC. 1405. ADVOCACY FOR INVESTMENT IN PROJECTS THAT DECREASE RELIANCE 
              ON RUSSIA FOR AGRICULTURAL COMMODITIES.

    ``(a) In General.--The Secretary of the Treasury shall instruct the 
United States Executive Director at each international financial 
institution (as defined in section 1701(c)(2)) to use the voice, vote, 
and influence of the United States, to the maximum extent practicable, 
to encourage the respective institution to--
            ``(1) support projects that decrease the reliance of 
        countries on Russia for agricultural commodities, particularly 
        fertilizer and grain;
            ``(2) ensure the resilience of global grain supplies; and
            ``(3) stimulate private investment in the projects.
    ``(b) Waiver Authority.--The Secretary of the Treasury may waive 
subsection (a) with respect to a project upon notifying Congress that 
the waiver is in the national interest of the United States.''.
    (b) Repeal.--Section 1405 of such Act, as added by this section, is 
repealed effective on the earlier of--
            (1) the date that is 5 years after the date of the 
        enactment of this Act; or
            (2) the date that is 30 days after the date the President 
        reports to the Congress that the termination of such section 
        1405 is important to the national interest of the United 
        States, with an explanation of the reasons therefor.

            Passed the House of Representatives January 12, 2024.

            Attest:

                                             KEVIN F. MCCUMBER,

                                                                 Clerk.