No Illegal Oil from Russia Act of 2023

To require the imposition of sanctions and other measures relating to the Russian oil price cap policy, and for other purposes. 1. Short title This Act may be cited as the No Illegal Oil from Russia Act of 2023 2. Diplomatic strategy to enhance international compliance with the Russian oil price cap policy (a) Strategy Not later than 180 days after the date of enactment of this Act, the Secretary of State and the Secretary of the Treasury shall jointly submit to the Committee on Foreign Affairs of the House of Representatives and the Committee on Foreign Relations of the Senate a strategy to enhance international compliance with the Russian oil price cap policy. (b) Matters The strategy under subsection (a) shall include— (1) an overview of general international compliance with the Russian oil price cap policy; (2) a list of the countries known to have purchased significant quantities of Russian oil at prices above the price agreed to in the Russian oil price cap policy set forth by the Group of Seven ( G7 (3) any known methods used by such countries to avoid detection of their purchases of Russian oil at prices above the price agreed to in the Russian oil price cap policy; (4) an assessment of possible incentives the United States could provide to countries listed pursuant to paragraph (2) to encourage compliance with the Russian oil price cap policy; (5) an assessment of whether the imposition of additional sanctions, including possible secondary sanctions, would enhance international compliance with the Russian oil price cap policy; (6) a description of the views of the government of each country participating in the Russian oil price cap policy regarding whether the price cap under such policy should be lowered or not; and (7) a description of the United States diplomatic engagement with the government of each country participating in the Russian oil price cap policy regarding the appropriateness of the current cap, including any diplomatic engagement intended to encourage support for the lowering of the price cap. 3. Reports on global impact of the Russian oil price cap policy (a) In general Not later than 60 days after the date of enactment of this Act, and every 90 days thereafter until the date described in subsection (d), the Secretary of State, in coordination with the Secretary of the Treasury and the Secretary of Energy, shall submit to the appropriate congressional committees a report on the global impact of the Russian oil price cap policy. (b) Elements Each report under subsection (a) shall include an analysis of the impact of the Russian oil price cap policy during the 90-day period covered by the report, and a forecast of such impact over the subsequent 180 days, with respect to the following metrics: (1) Global crude oil prices, including a comparison of global crude oil prices over time since December 2022, and the price set in the oil price cap policy. (2) The volume and sale price of Russian crude and refined oil product exports. (3) Revenue earned by the Russian Federation through exports of oil products. (4) Russian oil production levels. (5) Revenue collected by entities located in a G7 country, the European Union, or Australia that provide maritime services including— (A) trading and commodities brokering; (B) financing; (C) shipping; (D) insurance, including reinsurance and protection and indemnity; and (E) flagging; and customs brokering. (6) The economies of G7 countries, member states of the European Union, and Australia. (c) Appropriate congressional committees defined In this section, the term appropriate congressional committees (1) the Committee on Foreign Relations and the Committee on Energy and Natural Resources of the Senate; and (2) the Committee on Foreign Affairs and the Committee on Energy and Commerce of the House of Representatives. (d) Sunset The date described in this subsection is the earlier of the following: (1) The date that is 3 years after the date of enactment of this Act. (2) The date on which the Russian oil price cap policy ceases to be in effect. 4. Imposition of sanctions (a) In general Not later than 180 days after the date of the enactment of this Act, the President shall, pursuant to subsection (b), block the assets of any foreign person that the President determines is a foreign vessel that knowingly transports Russian oil in contravention of the Russian oil price cap policy. (b) Asset blocking Notwithstanding the requirements of section 202 of the International Emergency Economic Powers Act ( 50 U.S.C. 1701 (c) Exceptions (1) Exception for certain government entities Sanctions under this section shall not apply with respect to a vessel registered under the jurisdiction of— (A) a member country of the European Union; (B) Australia; or (C) a G7 country. (2) Exception relating to the provision of humanitarian assistance Sanctions under this section may not be imposed with respect to transactions or the facilitation of transactions for— (A) the provision of humanitarian assistance; and (B) transporting goods or services that are necessary to carry out operations relating to humanitarian assistance or humanitarian purposes; (3) Exception for safety of vessels and crew Sanctions under this section shall not apply with respect to a person providing provisions to a vessel otherwise subject to sanctions under this section if such provisions are intended for the safety and care of the crew aboard the vessel, the protection of human life aboard the vessel, or the maintenance of the vessel to avoid any environmental or other significant damage. (4) Exception to comply with national security The following activities shall be exempt from sanctions under this section: (A) Activities subject to the reporting requirements under title V of the National Security Act of 1947 ( 50 U.S.C. 3091 et seq. (B) Any authorized intelligence, law enforcement, or other national security activities of the United States. (d) National interest waiver The President may waive the application of sanctions under this section with respect to a person if the President— (1) determines that the waiver is in the national interests of the United States; and (2) submits to the appropriate congressional committees a report on the waiver and the reasons for the waiver. (e) Implementation; penalties (1) Implementation The President may exercise all authorities provided to the President under sections 203 and 205 of the International Emergency Economic Powers Act (50 U.S.C. 1702 and 1704) to carry out this section. (2) Penalties A person that violates, attempts to violate, conspires to violate, or causes violation of this section or any regulation, license, or order issued to carry out this section shall be subject to the penalties set forth in subsections (b) and (c) of section 206 of International Emergency Economic Powers Act ( 50 U.S.C. 1705 (f) Sunset The authority to impose sanctions under this section shall terminate on the date that is the earlier of the following: (1) The date that is 5 years after the date of the enactment of this Act. (2) The date on which the Russian oil price cap policy ceases to be in effect. (g) Consultations Prior to the imposition of sanctions under this section, the Secretary of State shall consult with the appropriate counterparts of the Governments of Australia, G7 countries, and member countries of the European Union with respect to the imposition of sanctions. (h) Appropriate congressional committees defined In this section, the term appropriate congressional committees (1) the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate; and (2) the Committee on Foreign Affairs and the Committee on Financial Services of the House of Representatives. 5. Definitions In this Act: (1) Foreign person The term foreign person (2) Knowingly The term knowingly, (3) Russian oil price cap policy The term Russian oil price cap policy (4) United States person The term United States person (A) a United States citizen or an alien lawfully admitted for permanent residence to the United States; (B) an entity organized under the laws of the United States or any jurisdiction within the United States, including a foreign branch of such an entity; or (C) any person located in the United States.

Summary: No Illegal Oil from Russia Act of 2023 This bill directs the President to sanction foreign persons (i.e., individuals and entities) that do not comply with the Russian oil price cap policy. The Russian oil price cap policy is an agreement between the United States, the European Union (EU), Australia, and the Group of Seven (G7) countries to limit the use of services that support or enable Russian oil shipments above an agreed-upon price cap. The bill requires the President to block any transaction inside or within the control of the United States by a foreign person that has knowingly transported Russian oil in contravention of the Russian oil price cap policy. The sanctions shall not apply to a vessel under the jurisdiction of Australia, an EU member country, or a G7 country. Additional exceptions apply, such as for national security reasons, and the President may waive the sanctions in limited circumstances specified in the bill. The authority to impose these sanctions sunsets five years after this bill's enactment or when the Russian oil price cap policy ends, whichever comes first. The bill also requires the Department of State to report to Congress a strategy to enhance international compliance with the Russian oil price cap policy. The strategy must list countries that purchase oil above the price cap, detail the methods countries use to make such purchases and avoid detection, and present possible ways the United States could encourage broader compliance.