I 
118TH CONGRESS 
2D SESSION 
H. R. 7353 
To provide temporary war risk insurance for certain commercial vessels 
operating importing goods to, or exporting goods from, Ukraine. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 14, 2024 
Mr. KEATING (for himself, Mr. QUIGLEY, and Mr. MCGOVERN) introduced the 
following bill; which was referred to the Committee on Foreign Affairs, 
and in addition to the Committee on Transportation and Infrastructure, 
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 provide temporary war risk insurance for certain commer-
cial vessels operating importing goods to, or exporting 
goods from, Ukraine. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Ukraine War Risk In-
surance Act’’. 
SEC. 2. FINDING. 
Congress finds that the transportation in the water-
borne commerce importing cargo to, or exporting cargo 
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from, Ukraine is in the interest of the national defense 
or national economy of the United States. 
SEC. 3. WAR RISK INSURANCE ELIGIBILITY FOR CERTAIN 
COMMERCIAL 
VESSELS 
OPERATING 
IN 
UKRAINE. 
(a) ELIGIBILITY.—Notwithstanding section 53902 of 
title 46, United States Code, for the period beginning on 
the date of enactment of this Act, and ending 5 years after 
such date, a covered vessel shall be deemed to be eligible 
for insurance or reinsurance under chapter 539 of title 
46, United States Code, if such vessel is engaged in trans-
portation in waterborne commerce importing cargo to, or 
exporting cargo from, Ukraine. 
(b) EXPANSION
OF CARGO.—Subparagraphs (B) 
through (D) of section 53903(a)(3) of title 46, United 
States Code, shall not apply to cargo imported or exported 
to or from Ukraine. 
(c) DEFINITIONS.—In this section: 
(1) COVERED VESSEL.—The term ‘‘covered ves-
sel’’ means a vessel that is owned by a citizen of— 
(A) a member country of the North Atlan-
tic Treaty Organization; 
(B) Ukraine; or 
(C) any other country the Secretary of 
State, in consultation with the Secretary of 
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Transportation, determines, in the interest of 
national security, shall be considered eligible for 
insurance or reinsurance under chapter 539 of 
title 46, United States Code. 
(2) OWNED BY A CITIZEN.—The term ‘‘owned 
by a citizen’’ means ownership by an entity that is 
considered to be a citizen of a country in the same 
manner as an entity is deemed to be a citizen of the 
United States under section 50501 of title 46, 
United States Code. 
SEC. 4. INSURANCE FOR UKRAINE INITIATIVE. 
(a) ESTABLISHMENT.—There is established in the 
Department of State an entity to be known as the Insur-
ance for Ukraine Initiative. 
(b) OBJECTIVES.—The objectives of the Insurance 
for Ukraine Initiative are the following: 
(1) Bolster confidence in Ukraine’s eventual 
economic recovery from Russia’s full-scale invasion 
through the provision of war risk insurance. 
(2) Encourage European allies and partners to 
finance and invest in Ukraine’s economic recovery, 
including through the provision of war risk insur-
ance. 
(3) Promote closer economic integration be-
tween Ukraine and other countries in Europe as well 
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as the United States and further Ukraine’s acces-
sion to the European Union. 
(4) Coordinate dialogue and fora for extensive 
outreach with private sector insurance companies re-
lating to the provision of war risk insurance to 
Ukraine. 
(5) Work with Ukraine, international organiza-
tions, and Middle Eastern and African allies and 
partners to ensure the bountiful and affordable ship-
ment of grain and other food commodities from 
Ukraine. 
(c) REPORT.—Not later than 1 year after the date 
of the enactment of this Act, and annually thereafter for 
the following 3 years, the Secretary of State shall submit 
to the appropriate congressional committees a report that 
includes assessments of— 
(1) progress towards the achievement of each of 
the objectives set forth in subsection (b); and 
(2) legislative proposals that would further the 
objectives set forth in subsection (b); 
(d) DEFINITION.—In this section, the term ‘‘appro-
priate congressional committees’’ means— 
(1) the Committee on Foreign Affairs of the 
House of Representatives; and 
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(2) the Committee on Foreign Relations of the 
Senate. 
SEC. 5. DIPLOMATIC AND POLITICAL SUPPORT. 
The Secretary of State, in coordination with the 
heads of other relevant Federal departments and agencies, 
shall seek to provide diplomatic and political support to 
countries that provide or provide support for war risk in-
surance for Ukraine, including by using the diplomatic 
and political influence and expertise of the Department 
of State to build the capacity of such countries. 
SEC. 6. VOICE, VOTE, AND INFLUENCE OF THE UNITED 
STATES 
AT 
THE 
U.N. 
FOOD 
AND 
AGRI-
CULTURE ORGANIZATION. 
The Secretary of State shall direct the United States 
Representative to the Food and Agriculture Organization 
of the United Nations to use the voice, vote, and influence 
of the United States at such Organization to seek to de-
velop a multilateral insurance mechanism to protect the 
shipment of grain and other commodities from Ukraine. 
Æ 
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