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Preventing Escalation in Europe: New Financial Sanctions on Russia

This act aims to pressure Russia to end the conflict with Ukraine by imposing new financial sanctions. Citizens might experience indirect effects on the global economy and stability, though direct consequences primarily impact financial institutions dealing with Russian entities.
Key points
Foreign banks providing financial services to sanctioned Russian entities may be prohibited from opening or maintaining accounts in the U.S.
The act requires the Treasury Secretary to determine if Russian energy companies like Gazprom, Rosneft, and Lukoil should be subject to these sanctions.
The U.S. President can temporarily waive these sanctions if deemed important for national interest or conflict resolution.
The act will terminate when Russia ceases destabilizing activities in Ukraine or after five years from its enactment.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_4301
Sponsor: Rep. Nunn, Zachary [R-IA-3]
Process start date: 2025-07-07
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

PEACE Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_4301.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-07-07.

What are the main provisions?

Key points include:

  • Foreign banks providing financial services to sanctioned Russian entities may be prohibited from opening or maintaining accounts in the U.S.
  • The act requires the Treasury Secretary to determine if Russian energy companies like Gazprom, Rosneft, and Lukoil should be subject to these sanctions.
  • The U.S. President can temporarily waive these sanctions if deemed important for national interest or conflict resolution.
  • The act will terminate when Russia ceases destabilizing activities in Ukraine or after five years from its enactment.
What is the specific legal status?

The current status is Introduced.

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 Rep. Nunn, Zachary [R-IA-3].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Economy Security