IB 
Union Calendar No. 266 
118TH CONGRESS 
1ST SESSION H. R. 4768 
[Report No. 118–327] 
To require the Secretary of the Treasury to instruct the United States 
Executive Directors at the international financial institutions to advocate 
for investment in projects that decrease reliance on Russia for agricul-
tural commodities. 
IN THE HOUSE OF REPRESENTATIVES 
JULY 20, 2023 
Ms. WATERS (for herself and Mr. NUNN of Iowa) introduced the following bill; 
which was referred to the Committee on Financial Services 
DECEMBER 19, 2023 
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
[For text of introduced bill, see copy of bill as introduced on July 20, 2023] 
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A BILL 
To require the Secretary of the Treasury to instruct the 
United States Executive Directors at the international 
financial institutions to advocate for investment in 
projects that decrease reliance on Russia for agricultural 
commodities. 
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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 ‘‘No Russian Agriculture 
Act’’. 
SEC. 2. UNITED STATES ADVOCACY FOR INVESTMENT IN 
PROJECTS THAT DECREASE RELIANCE ON 
RUSSIA FOR AGRICULTURAL COMMODITIES. 
(a) IN GENERAL.—Title XIV of the International Fi-
nancial Institutions Act (22 U.S.C. 262n-262n-3) is 
amended by adding at the end the following: 
‘‘SEC. 1405. ADVOCACY FOR INVESTMENT IN PROJECTS 
THAT DECREASE RELIANCE ON RUSSIA FOR 
AGRICULTURAL COMMODITIES. 
‘‘(a) IN GENERAL.—The Secretary of the Treasury 
shall instruct the United States Executive Director at each 
international financial institution (as defined in section 
1701(c)(2)) to use the voice, vote, and influence of the 
United States, to the maximum extent practicable, to en-
courage the respective institution to— 
‘‘(1) support projects that decrease the reliance of 
countries on Russia for agricultural commodities, 
particularly fertilizer and grain; 
‘‘(2) ensure the resilience of global grain sup-
plies; and 
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‘‘(3) stimulate private investment in the projects. 
‘‘(b) WAIVER
AUTHORITY.—The Secretary of the 
Treasury may waive subsection (a) with respect to a project 
upon notifying Congress that the waiver is in the national 
interest of the United States.’’. 
(b) REPEAL.—Section 1405 of such Act, as added by 
this section, is repealed effective on the earlier of— 
(1) the date that is 5 years after the date of the 
enactment of this Act; or 
(2) the date that is 30 days after the date the 
President reports to the Congress that the termination 
of such section 1405 is important to the national in-
terest of the United States, with an explanation of the 
reasons therefor. 
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Union Calendar No. 266 
118TH CONGRESS 
1ST SESSION 
H. R. 4768 
[Report No. 118–327] 
A BILL 
To require the Secretary of the Treasury to in-
struct the United States Executive Directors at 
the international financial institutions to advo-
cate for investment in projects that decrease reli-
ance on Russia for agricultural commodities. 
DECEMBER 19, 2023 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
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