Title: A resolution expressing the sense of the Senate on ending the access of Russian financial institutions to specialized financial messaging services.
Policy area: Finance and Financial Sector

Summary:
This resolution urges the President to end access to specialized financial messaging services by Russian financial institutions.

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 548 Introduced in Senate (IS)]

<DOC>






117th CONGRESS
  2d Session
S. RES. 548

  Expressing the sense of the Senate on ending the access of Russian 
  financial institutions to specialized financial messaging services.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 16, 2022

Mrs. Blackburn (for herself and Mr. Blumenthal) submitted the following 
 resolution; which was referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                               RESOLUTION


 
  Expressing the sense of the Senate on ending the access of Russian 
  financial institutions to specialized financial messaging services.

Whereas providers of specialized financial messaging services are a critical 
        link to the international financial system;
Whereas the European Union, Japan, Canada, and other partners of the United 
        States are to be commended for strengthening the multilateral sanctions 
        regime against the Russian Federation;
Whereas, while the expulsion of selected Russian financial institutions from 
        specialized financial messaging services is a first step, that expulsion 
        alone is not sufficient to address the scope and scale at which the 
        Government of the Russian Federation is waging war against Ukraine; and
Whereas, once achieved, the complete loss of access by Russian financial 
        institutions to specialized financial messaging services must be 
        maintained: Now, therefore, be it
    Resolved, That--
            (1) the Senate urges the President, in the strongest 
        possible terms, to immediately take all measures necessary to 
        remove all Russian financial institutions from access to 
        specialized financial messaging services, including by working 
        with allies and partners of the United States to execute that 
        removal multilaterally;
            (2) it is the sense of the Senate that the Russian 
        financial institutions covered by paragraph (1) include--
                    (A) Sberbank;
                    (B) VTB;
                    (C) Gazprombank;
                    (D) VEB.RF;
                    (E) The Russian Direct Investment Fund;
                    (F) Credit Bank of Moscow;
                    (G) Alfa Bank;
                    (H) Rosselkhozbank;
                    (I) FC Bank Otkritie;
                    (J) Promsvyazbank;
                    (K) Sovcombank;
                    (L) Transkapitalbank;
                    (M) Tinkoff Bank; and
                    (N) any financial institution that is owned or 
                controlled by, or is a successor to, a financial 
                institution specified in any of subparagraphs (A) 
                through (M); and
            (3) it is the sense of the Senate that any package of 
        sanctions imposed with respect to the Russian Federation is 
        strengthened by working in concert with allies and partners of 
        the United States.
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