I 

117TH CONGRESS 

2D SESSION H. R. 6995 

To prohibit trade with the Russian Federation, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 8, 2022 

Mr. PERRY introduced the following bill; which was referred to the Committee 

on Ways and Means, 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 prohibit trade with the Russian Federation, and for other 

purposes. 

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 ‘‘Russia Trade and In5 vestment Ban Act’’. 

6 SEC. 2. PROHIBITION ON TRADE WITH THE RUSSIAN FED7 ERATION. 

8 (a) IN GENERAL.—The President shall establish and 

9 maintain a total embargo upon all trade between the 


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1 United States and the Russian Federation, Crimea, and 

2 the regions of Donetsk and Luhansk in Ukraine. 

3 (b) EFFECTIVE DATE.—The prohibition under sub4 section (a) shall take effect beginning at 12:01 a.m. east5 ern daylight time on the date that is 60 days after the 

6 date of the enactment of this Act. 

7 SEC. 3. SANCTIONS. 

8 (a) IN GENERAL.—Notwithstanding any other provi9 sion of law, the purchase or sale by a United States person 

10 of any publicly traded securities, or any publicly traded 

11 securities that are derivative of such securities or are de12 signed to provide investment exposure to such securities, 

13 of any entity incorporated in the Russian Federation, Cri14 mea, or the region of Donetsk or Luhansk in Ukraine, 

15 or any affiliate of such entity, is prohibited. 

16 (b) EFFECTIVE DATE.—The prohibitions under sub17 section (a) shall take effect beginning at 12:01 a.m. east18 ern daylight time on the date that is 60 days after the 

19 date of the enactment of this Act. 

20 (c) DIVESTMENT.—The purchase or sale of publicly 

21 traded securities described in subsection (a) made solely 

22 to effect the divestment, in whole or in part, of such secu23 rities by a United States person is permitted prior to 

24 12:01 a.m. eastern daylight time on the date that is 365 

25 days after the date of the enactment of this Act, with reVerDate Sep 11 2014 02:39 Mar 10, 2022 Jkt 029200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H6995.IH H6995

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1 spect to any entity incorporated in the Russian Federa2 tion, Crimea, or the region of Donetsk or Luhansk in 

3 Ukraine, or any affiliate of such entity. 

4 (d) EVASION OF SANCTIONS.— 

5 (1) IN GENERAL.—The following actions are 

6 prohibited: 

7 (A) Any transactions by a United States 

8 person or within the United States that evades 

9 or avoids, has the purpose of evading or avoid10 ing, causes a violation of, or attempts to violate 

11 the prohibitions set forth in this section. 

12 (B) Any conspiracy formed to violate any 

13 of the prohibitions set forth in this section. 

14 (2) PENALTIES.—The authorization provided in 

15 subsection (e) may be used to apply penalties pro16 vided for in subsections (b) and (c) of section 206 

17 of the International Emergency Economic Powers 

18 Act (50 U.S.C. 1705) with respect to a person that 

19 knowingly violates, attempts to violate, conspires to 

20 violate, or causes a violation of regulations promul21 gated under such subsection (e) to the same extent 

22 that such penalties apply to a person that knowingly 

23 commits an unlawful act described in section 206(a) 

24 of such Act. 


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1 (e) AUTHORIZATION.—The Secretary of the Treas2 ury, after consultation with the Secretary of State, the Di3 rector of National Intelligence, and the heads of other ex4 ecutive departments and agencies as determined appro5 priate by the Secretary of the Treasury, is authorized to 

6 take such actions, including the promulgation of rules and 

7 regulations, and to employ all powers granted to the Presi8 dent by the International Emergency Economic Powers 

9 Act, to carry out the purposes of this section. The Sec10 retary of the Treasury may, consistent with applicable law, 

11 redelegate any of such functions within the Department 

12 of the Treasury. The heads of Federal departments and 

13 agencies shall take all appropriate measures within their 

14 authority to carry out the provisions of this section. 

15 SEC. 4. DEFINITIONS. 

16 In this Act: 

17 (1) AFFILIATE.—The term ‘‘affiliate’’— 

18 (A) has the meaning given such term in 

19 section 230.405 of title 17, Code of Federal 

20 Regulations (as in effect on the date of the en21 actment of this Act); 

22 (B) means a person that is closely associ23 ated with another person typically in a depend24 ent or subordinate position; or 


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1 (C) means a person that has a common 

2 purpose or shared characteristics with another 

3 person. 

4 (2) ENTITY.—The term ‘‘entity’’ means a gov5 ernment or instrumentality of such government, or 

6 a partnership, association, trust, joint venture, cor7 poration, group, subgroup, or other organization. 

8 (3) PERSON.—The term ‘‘person’’ means an in9 dividual or entity. 

10 (4) PUBLICLY TRADED SECURITIES.—The term 

11 ‘‘publicly traded securities’’ includes any security (as 

12 such term is defined in section 3(a) of the Securities 

13 Exchange Act of 1934 (15 U.S.C. 78c(a))), denomi14 nated in any currency that trades on a securities ex15 change or through the method of trading that is 

16 commonly referred to as ‘‘over-the-counter’’, in any 

17 jurisdiction. 

18 (5) UNITED STATES PERSON.—The term 

19 ‘‘United States person’’ means— 

20 (A) any United States citizen, permanent 

21 resident alien, or entity (including foreign 

22 branches) organized under the laws of the 

23 United States or any jurisdiction within the 

24 United States; or 


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1 (B) any person in the United States. 

Æ 


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