I 

116TH CONGRESS 

1ST SESSION H. R. 1404 

To strengthen the United States response to Russian interference by providing 

transparency on the corruption of Russian President Vladimir Putin. 

IN THE HOUSE OF REPRESENTATIVES 

FEBRUARY 27, 2019 

Mrs. DEMINGS (for herself and Ms. STEFANIK) introduced the following bill; 

which was referred to the Permanent Select Committee on Intelligence, 

and in addition to the Committees on Foreign Affairs, and Financial 

Services, for a period to be subsequently determined by the Speaker, in 

each case for consideration of such provisions as fall within the jurisdiction of the committee concerned 

A BILL 

To strengthen the United States response to Russian interference by providing transparency on the corruption of 

Russian President Vladimir Putin. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Vladimir Putin Trans5 parency Act’’. 

6 SEC. 2. FINDINGS. 

7 Congress finds the following: 


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1 (1) According to an Intelligence Community As2 sessment dated January 6, 2017, ‘‘Russian Presi3 dent Vladimir Putin ordered an influence campaign 

4 in 2016 aimed at the US presidential election. Rus5 sia’s goals were to undermine public faith in the US 

6 democratic process . . . Moscow’s influence cam7 paign followed a Russian messaging strategy that 

8 blends covert intelligence operations—such as cyber 

9 activity—with overt efforts by Russian Government 

10 agencies, state-funded media, third-party inter11 mediaries, and paid social media users or ‘trolls’.’’. 

12 (2) According to the indictment issued by the 

13 Attorney General on February 16, 2018, Russian 

14 actors conspired ‘‘to defraud the United States by 

15 impairing, obstructing, and defeating the lawful 

16 functions of the government through fraud and de17 ceit for the purpose of interfering with the U.S. po18 litical and electoral processes, including the presi19 dential election of 2016’’. 

20 (3) Notwithstanding the enactment of the 

21 Countering Adversaries of America through Sanc22 tions Act of 2017 (Public Law 115–44), Russia con23 tinues to support efforts to sow and exacerbate divi24 sions among Americans, and to undermine demo25 cratic societies around the world. 


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1 (4) The government of Russian President 

2 Vladimir Putin employs a system of corruption and 

3 illicit financial ties as a tool for consolidating its do4 mestic political control and projecting power abroad 

5 to weaken other democratic countries. 

6 (5) Russia has also significantly stepped up its 

7 efforts to confront the United States and its allies 

8 politically and militarily, and to counter American 

9 influence worldwide, including by the following: 

10 (A) Invading and illegally occupying Cri11 mea. 

12 (B) Intervening in and occupying parts of 

13 eastern Ukraine. 

14 (C) Deploying substantial military forces 

15 and undertaking a ruthless bombing campaign 

16 in Syria to prop up the regime of Bashar al17 Assad and defeat the American-supported oppo18 sition. 

19 (D) Significantly expanding its armed 

20 forces and deploying missiles in violation of 

21 treaty commitments. 

22 (E) Undertaking large military exercises 

23 designed to intimidate other countries. 

24 (F) Interfering in the political systems of 

25 democracies around the world. 


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1 (G) Using the threat of cutting off gas 

2 supplies as leverage over the most energy-de3 pendent European countries. 

4 SEC. 3. REPORT ON KREMLIN-LINKED CORRUPTION. 

5 (a) SENSE OF CONGRESS.—It is the sense of Con6 gress that— 

7 (1) the intelligence community should dedicate 

8 resources to further expose key networks that the 

9 corrupt political class in Russia uses to hide the 

10 money it steals; 

11 (2) the President should pursue efforts to stifle 

12 Russian use of hidden financial channels, including 

13 anonymous shell companies and real estate invest14 ments, in a manner similar to the efforts undertaken 

15 to tighten banking regulations after the terrorist at16 tacks on September 11, 2001; and 

17 (3) the United States should do more to expose 

18 the corruption of Vladimir Putin, whose ill-gotten 

19 wealth is the most powerful symbol of the corrupt 

20 nature of his government. 

21 (b) REPORT.—Not later than 180 days after the date 

22 of the enactment of this Act, the Director of National In23 telligence, in coordination with the Secretary of the Treas24 ury and the Secretary of State, shall submit to the appro25 priate congressional committees a report on the personal 


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1 net worth of and assets owned by Russian President Vladi2 mir Putin, including— 

3 (1) the estimated net worth and known sources 

4 of income of Vladimir Putin and his family mem5 bers, including assets, investments, bank accounts, 

6 other business interests, and relevant beneficial own7 ership information; 

8 (2) with respect to bank accounts, real estate 

9 holdings, and other financial assets, including those 

10 outside of Russia, that are owned by or accessible to 

11 Putin— 

12 (A) the location of such accounts, holdings, 

13 or assets; and 

14 (B) the contents of such accounts or the 

15 amount held through such holdings or assets; 

16 (3) any ‘‘front’’ or shell companies, or other 

17 intermediaries, used by Vladimir Putin to hide as18 sets from public disclosure; and 

19 (4) an identification of the most significant sen20 ior Russian political figures and oligarchs who facili21 tate the corrupt practices of Vladimir Putin. 

22 (c) FORM.—The report required by subsection (b) 

23 shall be submitted in unclassified form but may include 

24 a classified annex. 


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1 (d) APPROPRIATE CONGRESSIONAL COMMITTEES

2 DEFINED.—In this section, the term ‘‘appropriate con3 gressional committees’’ means— 

4 (1) the Committee on Foreign Affairs, the 

5 Committee on Financial Services, and the Com6 mittee on Ways and Means of the House of Rep7 resentatives; and 

8 (2) the Committee on Foreign Relations, the 

9 Committee on Banking, Housing, and Urban Af10 fairs, and the Committee on Finance of the Senate. 

Æ 


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