I 

117TH CONGRESS 

2D SESSION H. R. 6944 

To impose sanctions with respect to the importation of oil and natural 

gas from Russia, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 7, 2022 

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

on Foreign Affairs, and in addition to the Committees on Financial Services, Energy and Commerce, and Natural Resources, 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 impose sanctions with respect to the importation of oil 

and natural gas from Russia, 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 ‘‘Energy Unleashing 

5 in Response to the Offenses of Putin against Europeans 

6 Act’’ or the ‘‘EUROPE Act’’. 


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1 SEC. 2. EXPEDITED APPROVALS RELATED TO NATURAL 

2 GAS EXPORTS TO TREATY ALLIES AND PART3 NERS. 

4 (a) EXPORTATION OF NATURAL GAS.—Section 3(c) 

5 of the Natural Gas Act (15 U.S.C. 717b(c)) is amended— 

6 (1) by striking ‘‘or the’’ and inserting ‘‘the’’; 

7 and 

8 (2) by inserting ‘‘or the exportation of natural 

9 gas to a country that is a party to a mutual defense 

10 treaty with the United States’’ after ‘‘trade in nat11 ural gas,’’. 

12 (b) LNG TERMINALS.—The Federal Energy Regu13 latory Commission shall expedite the approval of applica14 tions under section 3 of the Natural Gas Act (15 U.S.C. 

15 717b) for the siting, construction, expansion, or operation 

16 of liquified natural gas terminals that are intended to be 

17 used for the exportation of natural gas to one or more 

18 countries that are a party to a mutual defense treaty with 

19 the United States. 

20 SEC. 3. OIL AND GAS LEASING AUTHORIZATION. 

21 The Secretary of the Interior shall, immediately and 

22 without further review, resume oil and gas leasing on pub23 lic land and offshore waters. 


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1 SEC. 4. IMPOSITION OF SANCTIONS WITH RESPECT TO RUS2 SIAN OIL AND GAS EXPORTS. 

3 (a) IN GENERAL.—Except as provided by this sec4 tion, beginning on the enactment of this Act, the Presi5 dent— 

6 (1) shall prohibit the opening, and prohibit or 

7 impose strict conditions on the maintaining, in the 

8 United States of a correspondent account or a pay9 able-through account by a foreign financial institu10 tion that the President determines has knowingly 

11 conducted or facilitated any financial transaction 

12 with the Central Bank of Russia or another Russia 

13 financial institution designated by the Secretary of 

14 the Treasury for the imposition of sanctions pursu15 ant to the International Emergency Economic Pow16 ers Act (50 U.S.C. 1701 et seq.); and 

17 (2) shall impose sanctions pursuant to the 

18 International Emergency Economic Powers Act (50 

19 U.S.C. et seq.) with respect to the Central Bank of 

20 Russia. 

21 (b) EXCEPTION FOR SALES OF FOOD, MEDICINE, 

22 AND MEDICAL DEVICES.—The President may not impose 

23 sanctions under subsection (a) with respect to any person 

24 for conducting or facilitating a transaction for the sale of 

25 food, medicine, or medical devices to Russia. 


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1 (c) APPLICABILITY OF SANCTIONS WITH RESPECT

2 TO FOREIGN CENTRAL BANKS.—Except as provided in 

3 subsection (d), sanctions imposed under subsection (a)(1) 

4 shall apply with respect to a foreign financial institution 

5 owned or controlled by the government of a foreign coun6 try, including a central bank of a foreign country, only 

7 insofar as it engages in a financial transaction for the sale 

8 or purchase of petroleum or petroleum products to or from 

9 Russia conducted or facilitated on or after the date of the 

10 enactment of this Act. 

11 (d) APPLICABILITY OF SANCTIONS WITH RESPECT

12 TO PETROLEUM TRANSACTIONS.— 

13 (1) REPORT REQUIRED.—Not later than 60 

14 days after the date of the enactment of this Act, and 

15 every 60 days thereafter, the Administrator of the 

16 Energy Information Administration, in consultation 

17 with the Secretary of the Treasury, the Secretary of 

18 State, and the Director of National Intelligence, 

19 shall submit to Congress a report on the availability 

20 and price of petroleum and petroleum products pro21 duced in countries other than Russia in the 60-day 

22 period preceding the submission of the report. 

23 (2) DETERMINATION REQUIRED.—Not later 

24 than 90 days after the date of the enactment of this 

25 Act, and every 180 days thereafter, the President 


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1 shall determine, based on the reports required by 

2 paragraph (1), whether the price and supply of pe3 troleum and petroleum products produced in coun4 tries other than Russia is sufficient to permit pur5 chasers of petroleum and petroleum products from 

6 Russia to reduce significantly in volume their pur7 chases from Russia. 

8 (3) APPLICATION OF SANCTIONS.—Except as 

9 provided in paragraph (4), sanctions imposed under 

10 subsection (a)(1) shall apply with respect to each fi11 nancial transaction conducted or facilitated by a for12 eign financial institution on or after the date of the 

13 enactment of this Act for the purchase of petroleum 

14 or petroleum products from Russia if the President 

15 determines pursuant to paragraph (2) that there is 

16 a sufficient supply of petroleum and petroleum prod17 ucts from countries other than Russia to permit a 

18 significant reduction in the volume of petroleum and 

19 petroleum products purchased from Russia by or 

20 through foreign financial institutions. 

21 (4) EXCEPTION.—Sanctions imposed pursuant 

22 to subsection (a) shall not apply with respect to a 

23 foreign financial institution if the President deter24 mines and reports to Congress, not later than 90 

25 days after the date on which the President makes 


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1 the determination required by paragraph (2), and 

2 every 180 days thereafter, that the country with pri3 mary jurisdiction over the foreign financial institu4 tion has significantly reduced its volume of crude oil 

5 purchases from Russia during the period beginning 

6 on the date on which the President submitted the 

7 last report with respect to the country under this 

8 subparagraph. 

9 SEC. 5. EXPORT-IMPORT BANK FINANCING FOR CERTAIN 

10 ENERGY-RELATED EXPORTS. 

11 Section 2(b)(1) of the Export-Import Bank Act of 

12 1945 (12 U.S.C. 635 (b)(1)) is amended by adding at the 

13 end the following: 

14 ‘‘(N) The Bank shall make available, from 

15 the aggregate loan, guarantee, and insurance 

16 authority available to the Bank, an amount to 

17 finance exports directly regarding clean energy 

18 technology, energy infrastructure, and produc19 tion of natural resources, which shall have the 

20 goal of being not less than 25 percent of the 

21 authorizations for each fiscal year. It shall be a 

22 goal of the Bank to maximize the amount fi23 nanced in cases in which an international stra24 tegic competitor is likely competing against a 

25 United States exporter for a contract dealing 


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1 with energy technology or natural resources, or 

2 in cases in which a United States exporter is 

3 capable of fulfilling such a contract in a way 

4 that would produce lesser environmentally 

5 harmful emissions. The Bank shall report to 

6 Congress annually as to its progress in meeting 

7 these goals.’’. 

Æ 


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