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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.
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Expired
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Additional Information
Print number: 117_S_4079
Sponsor: Sen. Scott, Rick [R-FL]
Process start date: 2022-04-25
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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

Russia and Belarus SDR Exchange Prohibition Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_4079.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-04-25.

What are the main provisions?

Key points include:

  • 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.
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. Scott, Rick [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