their designees), determines meets the require-
ments described in subsection (b), the Presi-
dent, acting through the Secretary of the 
Treasury and in consultation with the Secretary 
of State (or their designees), shall to the extent 
necessary investigate, block during the pend-
ency of an investigation, regulate, direct and 
compel, nullify, void, prevent or prohibit, any 
acquisition, holding, withholding, use, transfer, 
withdrawal, transportation, or exportation of, or 
dealing in, or exercising any right, power, or 
privilege with respect to, or transactions involv-
ing, any property in which any foreign country 
or a national thereof has any interest by any 
person, or with respect to any property, subject 
to the jurisdiction of the United States if such 
property and interests in property are in the 
United States, come within the United States, 
or are or come within the possession or control 
of a United States person. 
(B) ALIENS INELIGIBLE FOR VISAS, AD-
MISSION, OR PAROLE.— 
(i) VISAS, ADMISSION, OR PAROLE.— 
An alien who the Secretary of State or the 
Secretary of Homeland Security (or a des-
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ignee of one of such Secretaries) knows, or 
has reason to believe, meets any of the cri-
teria described in subsection (b) is— 
(I) inadmissible to the United 
States; 
(II) ineligible to receive a visa or 
other documentation to enter the 
United States; and 
(III) otherwise ineligible to be 
admitted or paroled into the United 
States or to receive any other benefit 
under the Immigration and Nation-
ality Act (8 U.S.C. 1101 et seq.). 
(ii) CURRENT VISAS REVOKED.— 
(I) IN
GENERAL.—The issuing 
consular officer, the Secretary of 
State, or the Secretary of Homeland 
Security (or a designee of one of such 
Secretaries) shall revoke any visa or 
other entry documentation issued to 
an alien who meets any of the criteria 
described in subsection (b), regardless 
of when issued. 
(II) 
JUDICIAL
REVIEW.—Not-
withstanding any other provision of 
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law, including section 2241 of title 28, 
United States Code, or any other ha-
beas corpus provision, and sections 
1361 and 1651 of such title, no court 
shall have jurisdiction to review a rev-
ocation decision under this clause, and 
no court shall have jurisdiction to 
hear any claim arising from, or any 
challenge to, such a revocation. 
(III) EFFECT OF REVOCATION.— 
A revocation under subclause (I)— 
(aa) shall take effect imme-
diately; and 
(bb) shall automatically can-
cel any other valid visa or entry 
documentation that is in the 
alien’s possession. 
(2) PENALTIES.—A foreign person that vio-
lates, attempts to violate, conspires to violate, or 
causes a violation of paragraph (1)(A) or any regu-
lation, license, or order issued to carry out para-
graph (1)(A) shall be subject to the penalties set 
forth in subsections (b) and (c) of section 206 of the 
International Emergency Economic Powers Act (50 
U.S.C. 1705) to the same extent as a person that 
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commits an unlawful act described in subsection (a) 
of that section. 
(3) REGULATORY AUTHORITY.—The President 
shall, not later than 90 days after the date of the 
enactment of this Act, promulgate regulations as 
necessary for the implementation of this section. 
(4) EXCEPTION TO COMPLY WITH UNITED NA-
TIONS
HEADQUARTERS
AGREEMENT.—Sanctions 
under paragraph (1)(B) shall not apply to an alien 
if admitting the alien into the United States is nec-
essary to permit the United States to comply with 
the Agreement regarding the Headquarters of the 
United Nations, signed at Lake Success June 26, 
1947, and entered into force November 21, 1947, 
between the United Nations and the United States, 
or other applicable international obligations. 
(5) RULE OF CONSTRUCTION.—Nothing in this 
section shall be construed to limit the authority of 
the President pursuant to the International Emer-
gency Economic Powers Act (50 U.S.C. 1701 et 
seq.). 
(d) WAIVER.—The President may waive the applica-
tion of sanctions under subsection (c) with respect to a 
foreign person or alien if the President— 
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(1) determines that such a waiver is vital to the 
national interest of the United States; and 
(2) not less than 15 days after the waiver takes 
effect, submits to the appropriate congressional com-
mittees a notice of the waiver and a justification for 
such waiver. 
(e) REPORT.— 
(1) REPORT REQUIRED.— 
(A) IN GENERAL.—Not later than 30 days 
after the date of the enactment of this Act, and 
every 180 days thereafter for a period not to 
exceed 2 years, the Secretary of State, in con-
sultation with the Secretary of the Treasury, 
shall submit to the appropriate congressional 
committees a detailed report with respect to 
whether senior foreign political figures of the 
Russian Federation are responsible for engag-
ing in activities described in subsection (b). 
(B) FORM.—The report required by sub-
paragraph (A) shall be submitted in unclassi-
fied form but may contain a classified annex. 
(2) REQUESTS BY CHAIRPERSON AND RANKING 
MEMBER OF APPROPRIATE CONGRESSIONAL COMMIT-
TEES.— 
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(A) IN
GENERAL.—Not later than 120 
days after receiving a written request from the 
chairperson and ranking member of one of the 
appropriate congressional committees with re-
spect to whether a senior foreign political figure 
of the Russian Federation is responsible for en-
gaging in activities described in subsection (b), 
the President shall submit a response to the 
chairperson and ranking member of the com-
mittee which made the request with respect to 
the status of the person. 
(B) FORM.—The President may submit a 
response required by subparagraph (A) in clas-
sified form if the President determines that it 
is necessary for the national security interests 
of the United States to do so. 
(3) DEFINITION.—In this subsection, the term 
‘‘appropriate congressional committees’’ means— 
(A) the Committee on Foreign Affairs and 
the Committee on Financial Services of the 
House of Representatives; and 
(B) the Committee on Foreign Relations 
and the Committee on Banking, Housing, and 
Urban Affairs of the Senate. 
(f) DEFINITIONS.—In this section: 
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(6) SENIOR FOREIGN POLITICAL FIGURE.—The 
term ‘‘senior foreign political figure’’ means— 
(A) a current or former— 
(i) senior official in the executive, leg-
islative, administrative, military, or judicial 
branches of a foreign government (whether 
elected or not); 
(ii) senior official of a major foreign 
political party; or 
(iii) senior executive of a foreign-gov-
ernment-owned commercial enterprise; 
(B) a corporation, business, or other entity 
that has been formed by, or for the benefit of, 
any such individual; 
(C) an immediate family member (includ-
ing spouses, parents, siblings, children, and a 
spouse’s parents and siblings) of any such indi-
vidual; or 
(D) a person who is widely and publicly 
known to be a close associate of such individual. 
(7) 
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 
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(B) an entity organized under the laws of 
the United States or of any jurisdiction within 
the United States, including a foreign branch of 
such an entity. 
(g) TERMINATION.—This section and any sanction 
imposed by this section shall remain in effect until the 
earlier of— 
(1) the date that is 90 days after the date on 
which the President submits to the appropriate con-
gressional committees the certification described in 
subsection (a) of section 206 in accordance with sub-
section (b) of such section; or 
(2) the date that is 30 days after any date sub-
sequent to January 1, 2020, on which the President 
submits to the appropriate congressional committees 
in writing a determination that the termination of 
this section and the sanctions imposed by this sec-
tion is in the vital national security interests of the 
United States. 
SEC. 203. REPORT ON CERTAIN FOREIGN FINANCIAL INSTI-
TUTIONS. 
(a) FINDINGS.—Congress finds the following: 
(1) On February 26, 2014, the Department of 
the Treasury’s Financial Crimes Enforcement Net-
work advised United States financial institutions of 
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their responsibility to take reasonable, risk-based 
steps regarding the potential suspicious movement of 
assets related to Viktor Yanukovych departing Kyiv 
and abdicating his responsibilities and other senior 
officials resigning from their positions or departing 
Kyiv. 
(2) United States financial institutions are re-
quired to apply enhanced scrutiny to private banking 
accounts held by or on behalf of senior foreign polit-
ical figures and to monitor transactions that could 
potentially represent misappropriated or diverted 
state assets, the proceeds of bribery or other illegal 
payments, or other public corruption proceeds. 
(3) On March 3, 2014, the Government of 
Ukraine announced that it had initiated criminal 
proceedings against a number of former Ukrainian 
officials or close associates of former Ukrainian offi-
cials. 
(4) On March 5, 2014, the European Union, 
based on information from Ukraine’s Prosecutor 
General, issued a Council Regulation requiring the 
European Union to freeze the funds and economic 
resources of various former Ukrainian officials and 
their close associates. 
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(5) The Government of Canada has taken simi-
lar action against the same individuals. 
(6) The measures being taken against these 
former Ukrainian officials and their close associates 
increase the risk that they will seek to move their 
assets in a deceptive fashion. 
(7) Foreign financial institutions should apply 
similar, enhanced due-diligence and reporting re-
quirements. 
(8) The United States has a strong interest in 
seeing the international financial system protected 
from illicit financial activity, including money laun-
dering, 
terrorism 
and 
proliferation 
financing, 
transnational organized crime, and the misappro-
priation of state assets, and international sanctions 
evasion, among others. 
(9) The Department of the Treasury possesses 
a range of authorities to insulate the United States 
financial system from entities or jurisdictions that 
pose an illicit financing risk. 
(b) STATEMENT OF POLICY.—It shall be the policy 
of the United States to use all of its regulatory and statu-
tory authorities to closely scrutinize all foreign financial 
institutions, including those in the Russian Federation, 
that may be complicit in enabling foreign persons and 
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transnational criminal enterprises to evade or otherwise 
circumvent United States and international sanctions, 
launder the proceeds of criminal activity, finance acts of 
terrorism and the proliferation of weapons of mass de-
struction, or any other illicit activity that presents risks 
and vulnerabilities to the United States financial system. 
(c) REPORT.— 
(1) IN GENERAL.—Not later than 30 days after 
the date of the enactment of this Act, and every 180 
days thereafter for a period not to exceed 2 years, 
the Secretary of State and the Secretary of the 
Treasury shall jointly submit to the appropriate con-
gressional committees a report on— 
(A) foreign financial institutions that are 
in direct or indirect control of Government of 
Ukraine state-owned or controlled assets with-
out the knowledge or approval of the Govern-
ment of Ukraine; 
(B) foreign financial institutions that may 
be complicit in illicit financial activity, including 
money laundering, terrorism and proliferation 
financing, transnational organized crime, mis-
appropriation of state assets, or otherwise en-
gaged in any activity prohibited under United 
States law that are— 
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