[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6944 Introduced in House (IH)]
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117th CONGRESS
2d Session
H. R. 6944
To impose sanctions with respect to the importation of oil and natural
gas from Russia, and for other purposes.
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IN THE HOUSE OF REPRESENTATIVES
March 7, 2022
Mr. Curtis introduced the following bill; which was referred to the
Committee on Foreign Affairs, and in addition to the Committees on
Financial Services, Energy and Commerce, and Natural Resources, for a
period to be subsequently determined by the Speaker, in each case for
consideration of such provisions as fall within the jurisdiction of the
committee concerned
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A BILL
To impose sanctions with respect to the importation of oil and natural
gas from Russia, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Energy Unleashing in Response to the
Offenses of Putin against Europeans Act'' or the ``EUROPE Act''.
SEC. 2. EXPEDITED APPROVALS RELATED TO NATURAL GAS EXPORTS TO TREATY
ALLIES AND PARTNERS.
(a) Exportation of Natural Gas.--Section 3(c) of the Natural Gas
Act (15 U.S.C. 717b(c)) is amended--
(1) by striking ``or the'' and inserting ``the''; and
(2) by inserting ``or the exportation of natural gas to a
country that is a party to a mutual defense treaty with the
United States'' after ``trade in natural gas,''.
(b) LNG Terminals.--The Federal Energy Regulatory Commission shall
expedite the approval of applications under section 3 of the Natural
Gas Act (15 U.S.C. 717b) for the siting, construction, expansion, or
operation of liquified natural gas terminals that are intended to be
used for the exportation of natural gas to one or more countries that
are a party to a mutual defense treaty with the United States.
SEC. 3. OIL AND GAS LEASING AUTHORIZATION.
The Secretary of the Interior shall, immediately and without
further review, resume oil and gas leasing on public land and offshore
waters.
SEC. 4. IMPOSITION OF SANCTIONS WITH RESPECT TO RUSSIAN OIL AND GAS
EXPORTS.
(a) In General.--Except as provided by this section, beginning on
the enactment of this Act, the President--
(1) shall prohibit the opening, and prohibit or impose
strict conditions on the maintaining, in the United States of a
correspondent account or a payable-through account by a foreign
financial institution that the President determines has
knowingly conducted or facilitated any financial transaction
with the Central Bank of Russia or another Russia financial
institution designated by the Secretary of the Treasury for the
imposition of sanctions pursuant to the International Emergency
Economic Powers Act (50 U.S.C. 1701 et seq.); and
(2) shall impose sanctions pursuant to the International
Emergency Economic Powers Act (50 U.S.C. et seq.) with respect
to the Central Bank of Russia.
(b) Exception for Sales of Food, Medicine, and Medical Devices.--
The President may not impose sanctions under subsection (a) with
respect to any person for conducting or facilitating a transaction for
the sale of food, medicine, or medical devices to Russia.
(c) Applicability of Sanctions With Respect to Foreign Central
Banks.--Except as provided in subsection (d), sanctions imposed under
subsection (a)(1) shall apply with respect to a foreign financial
institution owned or controlled by the government of a foreign country,
including a central bank of a foreign country, only insofar as it
engages in a financial transaction for the sale or purchase of
petroleum or petroleum products to or from Russia conducted or
facilitated on or after the date of the enactment of this Act.
(d) Applicability of Sanctions With Respect to Petroleum
Transactions.--
(1) Report required.--Not later than 60 days after the date
of the enactment of this Act, and every 60 days thereafter, the
Administrator of the Energy Information Administration, in
consultation with the Secretary of the Treasury, the Secretary
of State, and the Director of National Intelligence, shall
submit to Congress a report on the availability and price of
petroleum and petroleum products produced in countries other
than Russia in the 60-day period preceding the submission of
the report.
(2) Determination required.--Not later than 90 days after
the date of the enactment of this Act, and every 180 days
thereafter, the President shall determine, based on the reports
required by paragraph (1), whether the price and supply of
petroleum and petroleum products produced in countries other
than Russia is sufficient to permit purchasers of petroleum and
petroleum products from Russia to reduce significantly in
volume their purchases from Russia.
(3) Application of sanctions.--Except as provided in
paragraph (4), sanctions imposed under subsection (a)(1) shall
apply with respect to each financial transaction conducted or
facilitated by a foreign financial institution on or after the
date of the enactment of this Act for the purchase of petroleum
or petroleum products from Russia if the President determines
pursuant to paragraph (2) that there is a sufficient supply of
petroleum and petroleum products from countries other than
Russia to permit a significant reduction in the volume of
petroleum and petroleum products purchased from Russia by or
through foreign financial institutions.
(4) Exception.--Sanctions imposed pursuant to subsection
(a) shall not apply with respect to a foreign financial
institution if the President determines and reports to
Congress, not later than 90 days after the date on which the
President makes the determination required by paragraph (2),
and every 180 days thereafter, that the country with primary
jurisdiction over the foreign financial institution has
significantly reduced its volume of crude oil purchases from
Russia during the period beginning on the date on which the
President submitted the last report with respect to the country
under this subparagraph.
SEC. 5. EXPORT-IMPORT BANK FINANCING FOR CERTAIN ENERGY-RELATED
EXPORTS.
Section 2(b)(1) of the Export-Import Bank Act of 1945 (12 U.S.C.
635 (b)(1)) is amended by adding at the end the following:
``(N) The Bank shall make available, from the
aggregate loan, guarantee, and insurance authority
available to the Bank, an amount to finance exports
directly regarding clean energy technology, energy
infrastructure, and production of natural resources,
which shall have the goal of being not less than 25
percent of the authorizations for each fiscal year. It
shall be a goal of the Bank to maximize the amount
financed in cases in which an international strategic
competitor is likely competing against a United States
exporter for a contract dealing with energy technology
or natural resources, or in cases in which a United
States exporter is capable of fulfilling such a
contract in a way that would produce lesser
environmentally harmful emissions. The Bank shall
report to Congress annually as to its progress in
meeting these goals.''.
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