Prohibition on SDR Exchange for Russia and Belarus.
This act aims to block Russia and Belarus from accessing Special Drawing Rights (SDRs) issued by the International Monetary Fund. The United States will not engage in transactions involving these assets with the mentioned countries and will advocate for other nations to do the same. The goal is to limit the financial capabilities of these countries due to their actions.
Key points
The U.S. will not exchange Special Drawing Rights (SDRs) held by Russia and Belarus.
The U.S. will advocate for other countries to prohibit SDR exchanges with Russia and Belarus.
The U.S. will oppose any new SDR allocations to Russia and Belarus within the International Monetary Fund.
The President can waive these prohibitions if deemed in the U.S. national interest, with notification to Congress.
These provisions will terminate after 5 years, upon cessation of aggression against Ukraine, or if the President determines it's in the U.S. national interest.
Status:
Expired
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