A bill to terminate General License No. 8A of the Office of Foreign Assets Control of the Department of the Treasury and require the application of sanctions under Executive Order 14024 to the Russian financial institutions listed in General License No. 8A.

Bill: 117-s-4054
Sponsor: full_name: Sen. Marshall, Roger [R-KS]
Introduced: 2022-04-07
Policy area: Foreign Trade and International Finance
Subjects: Energy storage, supplies, demand

Europe

Foreign and international banking

Foreign property

Licensing and registrations

Oil and gas

Russia

Sanctions

Trade restrictions
Latest action: action_date: 2022-04-07
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2022-04-07
action_desc: Introduced in Senate
text: <p>This bill terminates General License No. 8A, which was issued by the Department of the Treasury's Office of Foreign Assets Control to authorize energy-related transactions involving specified Russian financial institutions. Further, the bill applies property-blocking sanctions to those Russian financial institutions listed in the license.</p>

tv_txt: II 117th CONGRESS 2d Session S. 4054 IN THE SENATE OF THE UNITED STATES April 7, 2022 Mr. Marshall (for himself, Mr. Braun , and Mr. Scott of Florida ) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To terminate General License No. 8A of the Office of Foreign Assets Control of the Department of the Treasury and require the application of sanctions under Executive Order 14024 to the Russian financial institutions listed in General License No. 8A.

1. Termination of General License No. 8A of Office of Foreign Assets Control; application of sanctions to certain Russian financial institutions Effective on the date of the enactment of this Act— (1) General License No. 8A of the Office of Foreign Assets Control of the Department of the Treasury shall have no force or effect; and (2) sanctions imposed under Executive Order 14024 ( 50 U.S.C. 1701 note; relating to blocking property with respect to specified harmful foreign activities of the Government of the Russian Federation) shall apply with respect to each entity specified in General License No. 8A.