[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 759 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 759

 To limit the authority of the Secretary of the Treasury to authorize 
   United States financial institutions to engage in certain Russian-
                      related energy transactions.


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                    IN THE HOUSE OF REPRESENTATIVES

                            February 2, 2023

   Mr. Barr introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To limit the authority of the Secretary of the Treasury to authorize 
   United States financial institutions to engage in certain Russian-
                      related energy transactions.

    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 Energy Revenues for Russian 
Hostilities Act of 2023''.

SEC. 2. LIMITATION ON AUTHORIZING CERTAIN RUSSIAN-RELATED ENERGY 
              TRANSACTIONS.

    (a) In General.--The Secretary of the Treasury may not authorize, 
or continue in effect any existing authorization for, a United States 
financial institution to engage in a transaction described under 
General License No. 8E, dated December 15, 2022, with respect to 
Executive Order 14024 of April 15, 2021.
    (b) Waiver.--The Secretary may waive subsection (a) for up to 90 
days at a time for a United States financial institution upon 
certifying to the Committee on Financial Services of the House of 
Representatives and the Committee on Banking, Housing, and Urban 
Affairs of the Senate that--
            (1) the waiver is only applicable to transactions that 
        involve funds owed to a Russian person; and
            (2) the funds, subject to approval by the Secretary, are to 
        be used for the sale of agricultural commodities, food, 
        medicine, or medical devices.
    (c) Termination.--Subsection (a) shall have no force or effect on 
the earlier of--
            (1) the date that is 5 years after the date of enactment of 
        this Act; or
            (2) 30 days after the date that the President reports to 
        Congress that the Government of the Russian Federation has 
        ceased its destabilizing activities with respect to the 
        sovereignty and territorial integrity of Ukraine.
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