Countering Communist China’s Financing of Russia’s War on Ukraine Act

Bill: 117-s-4620
Sponsor: full_name: Sen. Rubio, Marco [R-FL]
Introduced: 2022-07-26
Policy area: International Affairs
Latest action: action_date: 2022-07-26
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2022-07-26
action_desc: Introduced in Senate
text: <p><strong>Countering Communist China's Financing of Russia's War on Ukraine Act</strong></p> <p>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 The sanctions terminate when Russia has withdrawn all military and paramilitary forces from Ukraine.</p>

tv_txt: II 117th CONGRESS 2d Session S. 4620 IN THE SENATE OF THE UNITED STATES July 26, 2022 Mr. Rubio (for himself, Mr. Scott of Florida , and Mr. Cramer ) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL 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.

1. Short title This Act may be cited as the Countering Communist China’s Financing of Russia’s War on Ukraine Act . 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: 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. .