Rosatom Sanctions Enforcement Act

Bill: 118-hr-8046
Sponsor: Rep. Kean, Thomas H. [R-NJ-7]
Introduced: 2024-04-17 in the House
Policy area: International Affairs
Subjects: Administrative law and regulatory procedures
Asia
Civil actions and liability
Congressional oversight
Congressional-executive branch relations
Europe
Foreign and international banking
Foreign property
International law and treaties
Licensing and registrations
Nuclear power
Presidents and presidential powers, Vice Presidents
Russia
Sanctions

Summary:
action_date: 2024-04-17
text: 

Rosatom Sanctions Enforcement Act

This bill requires the President to take actions against Russian nuclear suppliers (e.g., Rosatom). (Rosatom is Russia's state nuclear power conglomerate.)

Specifically, the bill requires the President to impose property-blocking sanctions on Rosatom and others, including foreign persons involved in Rosatom’s construction of nuclear reactors.

Additionally, the President must submit to Congress a strategy to (1) replace Rosatom and other Russian nuclear suppliers with those from the United States and U.S. allies and partners, and (2) effect a permanent decoupling from the Russian nuclear industry. Within 60 days of submitting this strategy, the President must issue a directive prohibiting U.S. persons from engaging in any significant transaction with Rosatom and others involved with Rosatom.

The bill also requires the President to prescribe regulations to prohibit or impose strict conditions with respect to certain financial accounts held by foreign financial institutions.

The bill allows the President to waive the aforementioned sanctions under specified circumstances.

The President must, within 60 days of receiving a request from Congress, determine whether a person or foreign financial institution described in the request meets the criteria to be subject to sanctions imposed in two specified regulations relating to Russia. The President must submit a report to Congress stating whether the President imposed or intends to impose sanctions on persons or institutions described in the request from Congress.

The President must also pause the issuance of export licenses granted under a civil nuclear cooperation agreement with Russia until certain conditions are met.


Legislative actions:
action_date: 2024-05-16
text: Ordered to be Reported in the Nature of a Substitute (Amended) by Unanimous Consent.
action_date: 2024-05-16
text: Committee Consideration and Mark-up Session Held
action_date: 2024-04-17
text: Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2024-04-17
text: Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2024-04-17
text: Introduced in House
action_date: 2024-04-17
text: Introduced in House