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Ban on Russian Gold Transactions: New Rules for US Citizens

This act prohibits US citizens and entities from engaging in transactions involving gold from Russia. The goal is to limit funding for the Russian government and oligarchs. US persons must be careful not to unknowingly invest in such assets, and the government will issue guidance on how to avoid this.
Key points
US citizens and entities are prohibited from buying or trading gold originating from Russia, including gold from the Russian Central Bank.
The ban also applies to gold transactions with any connection to Russia, even if the gold does not directly come from the government.
The US government will provide instructions on how to avoid unknowingly engaging in prohibited transactions, especially with complex investments.
Violating these rules can lead to significant financial penalties and other legal consequences.
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Additional Information
Print number: 117_S_3771
Sponsor: Sen. Cornyn, John [R-TX]
Process start date: 2022-03-07
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Stop Russian GOLD Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_3771.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-03-07.

What are the main provisions?

Key points include:

  • US citizens and entities are prohibited from buying or trading gold originating from Russia, including gold from the Russian Central Bank.
  • The ban also applies to gold transactions with any connection to Russia, even if the gold does not directly come from the government.
  • The US government will provide instructions on how to avoid unknowingly engaging in prohibited transactions, especially with complex investments.
  • Violating these rules can lead to significant financial penalties and other legal consequences.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Cornyn, John [R-TX].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Economy Security