[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 4054 Introduced in Senate (IS)]

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117th CONGRESS
  2d Session
                                S. 4054

  To terminate General License No. 8A of the Office of Foreign Assets 
 Control of the Department of the Treasury and require the application 
   of sanctions under Executive Order 14024 to the Russian financial 
             institutions listed in General License No. 8A.


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                   IN THE SENATE OF THE UNITED STATES

                             April 7, 2022

    Mr. Marshall (for himself, Mr. Braun, and Mr. Scott of Florida) 
introduced the following bill; which was read twice and referred to the 
            Committee on Banking, Housing, and Urban Affairs

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                                 A BILL


 
  To terminate General License No. 8A of the Office of Foreign Assets 
 Control of the Department of the Treasury and require the application 
   of sanctions under Executive Order 14024 to the Russian financial 
             institutions listed in General License No. 8A.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. TERMINATION OF GENERAL LICENSE NO. 8A OF OFFICE OF FOREIGN 
              ASSETS CONTROL; APPLICATION OF SANCTIONS TO CERTAIN 
              RUSSIAN FINANCIAL INSTITUTIONS.

    Effective on the date of the enactment of this Act--
            (1) General License No. 8A of the Office of Foreign Assets 
        Control of the Department of the Treasury shall have no force 
        or effect; and
            (2) sanctions imposed under Executive Order 14024 (50 
        U.S.C. 1701 note; relating to blocking property with respect to 
        specified harmful foreign activities of the Government of the 
        Russian Federation) shall apply with respect to each entity 
        specified in General License No. 8A.
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