Countering Communist China’s Financing of Russia’s War on Ukraine Act
Bill: S.4620 | Sponsor: Sen. Rubio, Marco (R-FL)
Policy area: International Affairs

Summary:
Countering Communist China's Financing of Russia's War on Ukraine Act
This bill directs the President to impose sanctions on any entity that insures or registers a vessel engaged in the shipment or transshipment of any petroleum product or liquefied natural gas product from Russia to China. The sanctions terminate when Russia has withdrawn all military and paramilitary forces from Ukraine.

To amend the Countering Russian Influence in Europe and Eurasia Act of 
2017 to impose sanctions with respect to the shipment or transshipment 
   of petroleum products or liquefied natural gas products from the 
  Russian Federation to the Peoples' Republic of China, and for other 
                               purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Countering Communist China's 
Financing of Russia's War on Ukraine Act''.

SEC. 2. IMPOSITION OF SANCTIONS WITH RESPECT TO SHIPMENT OR 
              TRANSSHIPMENT OF PETROLEUM PRODUCTS OR LIQUEFIED NATURAL 
              GAS PRODUCTS FROM THE RUSSIAN FEDERATION TO THE PEOPLES' 
              REPUBLIC OF CHINA.

    (a) In General.--Part 2 of subtitle A of the Countering Russian 
Influence in Europe and Eurasia Act of 2017 (22 U.S.C. 9521 et seq.) is 
amended by inserting after section 234 the following:

``SEC. 234A. SANCTIONS WITH RESPECT TO SHIPMENT OR TRANSSHIPMENT OF 
              PETROLEUM PRODUCTS OR LIQUEFIED NATURAL GAS PRODUCTS FROM 
              THE RUSSIAN FEDERATION TO THE PEOPLES' REPUBLIC OF CHINA.

    ``(a) In General.--The President shall impose five or more of the 
sanctions described in section 235 with respect to any entity that the 
President determines knowingly, directly or indirectly, insures, 
registers, facilitates the registration of, or maintains insurance or a 
registration for, a vessel engaged in the shipment or transshipment of 
any petroleum product or liquefied natural gas product from the Russian 
Federation to the Peoples' Republic of China, including by providing 
sovereign insurance guarantees on behalf of the Government of the 
People's Republic of China with respect to any such vessel.
    ``(b) Termination.--Subject to section 216, sanctions imposed under 
subsection (a) shall terminate on the date on which the President 
determines and certifies to the appropriate congressional committees 
that the Government of the Russian Federation and any proxies for that 
Government have withdrawn all military and paramilitary forces from the 
internationally recognized territory of the Government of Ukraine.''.
    (b) Sanctions Described.--Section 235 of the Countering Russian 
Influence in Europe and Eurasia Act of 2017 (22 U.S.C. 9529) is 
amended--
            (1) in subsection (a), in the matter preceding paragraph 
        (1), by striking ``or 233(a)'' and inserting ``233(a), or 
        234A(a)''; and
            (2) in subsection (b), by striking ``or 233(a)'' and 
        inserting ``233(a), or 234A(a)''.
    (c) Clerical Amendment.--The table of contents under section 1(b) 
of the Countering America's Adversaries Through Sanctions Act (Public 
Law 115-44; 131 Stat. 886) is amended by inserting after the item 
relating to section 234 the following:

``Sec. 234A. Sanctions with respect to shipment or transshipment of 
                            petroleum products or liquefied natural gas 
                            products from the Russian Federation to the 
                            Peoples' Republic of China.''.
                                 <all>