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Sanctions on Chinese Banks Supporting Russia

This act aims to impose sanctions on Chinese financial institutions that assist Russian banks in conducting transactions. This could impact the global financial system by hindering money flows between China and Russia. For citizens, it indirectly strengthens US foreign policy and potentially limits funding for Russian actions.
Key points
Asset Blocking: Chinese banks supporting Russia may have their assets in the US blocked.
Banking Restrictions: They may be prohibited from opening or maintaining accounts with US banks.
Exceptions: Sanctions do not apply to intelligence activities or the importation of goods, meaning trade in goods will not be directly blocked.
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Expired
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Additional Information
Print number: 117_S_3877
Sponsor: Sen. Rubio, Marco [R-FL]
Process start date: 2022-03-17
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

CURB CIPS Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_3877.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-03-17.

What are the main provisions?

Key points include:

  • Asset Blocking: Chinese banks supporting Russia may have their assets in the US blocked.
  • Banking Restrictions: They may be prohibited from opening or maintaining accounts with US banks.
  • Exceptions: Sanctions do not apply to intelligence activities or the importation of goods, meaning trade in goods will not be directly blocked.
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. Rubio, Marco [R-FL].

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