agent of the United States Government or 
serve as repository for United States Gov-
ernment funds. 
The imposition of either sanction under clause 
(i) or (ii) shall be treated as 1 sanction for pur-
poses of paragraph (1), and the imposition of 
both such sanctions shall be treated as 2 sanc-
tions for purposes of paragraph (1). 
(E) 
PROCUREMENT
SANCTION.—The 
United States Government may not procure, or 
enter into any contract for the procurement of, 
any goods or services from the foreign person. 
(F) FOREIGN EXCHANGE.—The President 
may, pursuant to such regulations as the Presi-
dent may prescribe, prohibit any transactions in 
foreign exchange that are subject to the juris-
diction of the United States and in which the 
foreign person has any interest. 
(G) BANKING TRANSACTIONS.—The Presi-
dent may, pursuant to such regulations as the 
President may prescribe, prohibit any transfers 
of credit or payments between financial institu-
tions or by, through, or to any financial institu-
tion, to the extent that such transfers or pay-
ments are subject to the jurisdiction of the 
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United States and involve any interest of the 
foreign person. 
(H) 
PROPERTY
TRANSACTIONS.—The 
President may, pursuant to such regulations as 
the President may prescribe, prohibit any per-
son from— 
(i) acquiring, holding, withholding, 
using, transferring, withdrawing, trans-
porting, importing, or exporting any prop-
erty that is subject to the jurisdiction of 
the United States and with respect to 
which the foreign person has any interest; 
(ii) dealing in or exercising any right, 
power, or privilege with respect to such 
property; or 
(iii) conducting any transaction in-
volving such property. 
(I) BAN ON INVESTMENT IN EQUITY OR 
DEBT OF SANCTIONED PERSON.—The President 
may, pursuant to such regulations or guidelines 
as the President may prescribe, prohibit any 
United States person from investing in or pur-
chasing significant amounts of equity or debt 
instruments of the foreign person. 
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(J) EXCLUSION
OF
CORPORATE
OFFI-
CERS.—The President may direct the Secretary 
of State to deny a visa to, and the Secretary of 
Homeland Security to exclude from the United 
States, any alien that the President determines 
is a corporate officer or principal of, or a share-
holder with a controlling interest in, the foreign 
person. 
(K) SANCTIONS ON PRINCIPAL EXECUTIVE 
OFFICERS.—The President may impose on the 
principal executive officer or officers of the for-
eign person, or on persons performing similar 
functions and with similar authorities as such 
officer or officers, any of the sanctions under 
this paragraph. 
(e) EXCEPTIONS.— 
(1) EXCEPTION TO COMPLY WITH UNITED NA-
TIONS
HEADQUARTERS
AGREEMENT.—Sanctions 
under this subsection shall not apply with respect to 
the admission of an alien to the United States if the 
admission of the alien is necessary to permit the 
United States to comply with the Agreement regard-
ing the Headquarters of the United Nations, signed 
at Lake Success June 26, 1947, and entered into 
force November 21, 1947, between the United Na-
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tions and the United States, the Convention on Con-
sular Relations, done at Vienna April 24, 1963, and 
entered into force March 19, 1967, or other applica-
ble international obligations. 
(2) EXCEPTION RELATING TO IMPORTATION OF 
GOODS.— 
(A) IN GENERAL.—A requirement or the 
authority to block and prohibit all transactions 
in all property and interests in property under 
this section shall not include the authority to 
impose sanctions on the importation of goods. 
(B) GOOD DEFINED.—In this paragraph, 
the term ‘‘good’’ means any article, natural or 
man-made substance, material, supply or manu-
factured product, including inspection and test 
equipment, and excluding technical data. 
(f) NATIONAL SECURITY 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 
security interests of the United States; and 
(2) submits to the appropriate congressional 
committees a report on the waiver and the reasons 
for the waiver. 
(g) IMPLEMENTATION; PENALTIES.— 
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(1) IMPLEMENTATION.—The President may ex-
ercise all authorities provided to the President under 
sections 203 and 205 of the International Emer-
gency Economic Powers Act (50 U.S.C. 1702 and 
1704) to carry out this section. 
(2) PENALTIES.—A person that violates, at-
tempts to violate, conspires to violate, or causes a 
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 the International Emergency Eco-
nomic Powers Act (50 U.S.C. 1705) to the same ex-
tent as a person that commits an unlawful act de-
scribed in subsection (a) of that section. 
(h) DEFINITIONS.—In this section: 
(1) ADMISSION; ADMITTED; ALIEN.—The terms 
‘‘admission’’, ‘‘admitted’’, and ‘‘alien’’ have the 
meanings given those terms in section 101 of the 
Immigration and Nationality Act (8 U.S.C. 1101). 
(2) APPROPRIATE
CONGRESSIONAL
COMMIT-
TEES.—The term ‘‘appropriate congressional com-
mittees’’ means the Committee on Foreign Relations 
and Committee on Banking, Housing, and Urban 
Affairs of the Senate and the Committee on Foreign 
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Affairs and Committee on Financial Services of the 
House of Representatives. 
(3) FOREIGN PERSON.—The term ‘‘foreign per-
son’’ means an individual or entity that is not a 
United States person. 
(4) KNOWINGLY.—The term ‘‘knowingly’’, with 
respect to conduct, a circumstance, or a result, 
means that a person has actual knowledge, or should 
have known, of the conduct, the circumstance, or the 
result. 
(5) 
UNITED
STATES
PERSON.—The 
term 
‘‘United States person’’ means— 
(A) a United States citizen or an alien law-
fully admitted for permanent residence to the 
United States; or 
(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. 
SEC. 4. STRATEGY TO IMPROVE ENERGY SECURITY OF EU-
ROPEAN ALLIES OF THE UNITED STATES. 
(a) IN GENERAL.—The President shall direct the 
Secretary of State, in coordination with the heads of other 
Federal agencies, as appropriate, to develop a strategy to 
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improve the national and regional energy security of allies 
of the United States in Europe. 
(b) ELEMENTS.—The strategy required by subsection 
(a) shall include elements— 
(1) to deepen the role of United States diplo-
macy in Europe and the Middle East in enhancing 
the energy security of allies of the United States in 
Europe; 
(2) to diversify the energy sources of such al-
lies; 
(3) to counter efforts by the Russian Federa-
tion to establish energy dominance over Europe; and 
(4) to improve the resilience of energy infra-
structure of such allies. 
SEC. 5. REPORT ON EFFECTS OF NORD STREAM 2 ON THE 
NATIONAL 
SECURITY 
OF 
THE 
UNITED 
STATES. 
Not later than 90 days after the date of the enact-
ment of this Act, the Secretary of State shall submit to 
the appropriate congressional committees (as defined in 
section 3(h)) a report that includes the following: 
(1) An assessment of the effects of the Nord 
Stream 2 natural gas pipeline on the national secu-
rity of the United States, including an assessment of 
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the effect that increased dependence by countries in 
Europe on Russian natural gas would have on— 
(A) the energy security of Europe; 
(B) the diplomatic security and foreign 
policy of Ukraine; 
(C) the diplomatic security and foreign pol-
icy of Germany; and 
(D) United States diplomatic missions and 
facilities of the United States Government in 
Europe. 
(2) A description of activities of, or support by, 
the Government of the Russian Federation aimed at 
influencing opinions of the public and elites in Eu-
rope to generate support for Nord Stream 2 and 
other Russian energy export projects, including 
through— 
(A) propaganda activities through media 
and digital platforms, including broadcast and 
satellite-based television, radio, internet, and 
print media; or 
(B) funding or otherwise supporting third- 
party groups in Europe such as think tanks, 
academic institutions, trade associations, and 
other nongovernmental organizations. 
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SEC. 6. REPORT ON ENTITIES INVOLVED IN CONSTRUC-
TION OR REPAIR OF NORD STREAM 2. 
(a) IN GENERAL.—Not later than 180 days after the 
date of the enactment of this Act, and annually thereafter 
until the date that is 6 years after such date of enactment, 
the Secretary of State shall submit to the appropriate con-
gressional committees (as defined in section 3(h)) a report 
that includes— 
(1) a list of all entities, including financial insti-
tutions, directly or indirectly providing goods, serv-
ices, information, or technology for the construction 
or repair of the Nord Stream 2 natural gas pipeline; 
and 
(2) an assessment of whether each entity on the 
list required by paragraph (1) has knowingly en-
gaged in a significant transaction with, or provided 
goods, services, information, or technology to or 
for— 
(A) a Russian person the property or inter-
ests in property of which have been blocked 
pursuant to the International Emergency Eco-
nomic Powers Act (50 U.S.C. 1701 et seq.); 
(B) any person with respect to which sanc-
tions have been imposed under section 231 of 
the Countering America’s Adversaries Through 
Sanctions Act (22 U.S.C 9525); or 
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(C) any person with respect to which sanc-
tions have been imposed under— 
(i) any other provision of title II of 
the 
Countering 
America’s 
Adversaries 
Through Sanctions Act (22 U.S.C. 9501 et 
seq.); 
(ii) the Support for the Sovereignty, 
Integrity, Democracy, and Economic Sta-
bility of Ukraine Act of 2014 (22 U.S.C. 
8901 et seq.); or 
(iii) the Ukraine Freedom Support 
Act of 2014 (22 U.S.C. 8921 et seq.). 
(b) RUSSIAN PERSON DEFINED.—In this section, the 
term ‘‘Russian person’’ has the meaning given that term 
in section 2 of the Ukraine Freedom Support Act of 2014 
(22 U.S.C. 8921). 
Æ 
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