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22 U.S. Code § 10803 - Imposition of sanctions with respect to financial institutions affiliated with the Government of the Russian Federation

U.S. Code
Notes

(a) Imposition of sanctions

(1) In generalNot later than 30 days after September 18, 2026, the President shall—

(A)

impose 2 or more of the sanctions described in subsection (d) with respect to the Central Bank of the Russian Federation (Bank of Russia) and any subsidiary of, or successor entity to, that Bank;

(B) impose all of the sanctions described in subsection (d) with respect to—

(i)

Sberbank;

(ii)

VTB Bank;

(iii)

Gazprombank;

(iv)

any other financial institution organized under the laws of the Russian Federation and owned in whole or in part by the Government of the Russian Federation;

(v)

any subsidiary of, or successor entity to, any of the financial institutions described in clauses (i) through (iv); and

(vi)

except as provided by subsection (c), any foreign financial institution that engages in significant transactions with any of the financial institutions described in clauses (i) through (v); and

(C)

impose the sanctions described in section 10802(e) of this title with respect to any leaders, officials, senior executive officers, or members of the board of directors of, or any principal shareholders with a controlling or majority interest in, a financial institution described in subparagraph (A) or (B).

(2) UpdatesNot later than 210 days after September 18, 2026, and every 180 days thereafter, the President shall—

(A)

review any persons that may be described in paragraph (1); and

(B)

if sanctions have not been imposed under this subsection with respect to any person the President determines is described in paragraph (1), impose such sanctions with respect to that person.

(b) Prohibition on transactions by United States persons

Effective on the date that is 30 days after September 18, 2026, the President shall prohibit any United States person from engaging in any transaction with a financial institution described in subsection (a)(1)(B).

The President is not required to impose sanctions under subsection (a)(1)(B) with respect to a foreign financial institution described in clause (vi) of that subsection if the Secretary of the Treasury determines that imposing such sanctions is not consistent with the economic or foreign policy interests of the United States.

(d) Sanctions describedThe sanctions described in this subsection to be imposed with respect to a financial institution described in subsection (a) are the following:

(1) Blocking of property

The President shall exercise all of the powers granted to the President under the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) to the extent necessary to block and prohibit all transactions in property and interests in property of the financial institution if such property and interests in property are in the United States, come within the United States, or are or come within the possession or control of a United States person.

(2) CAATSA sanctions

Two or more of the sanctions described in section 235 of the Countering America’s Adversaries Through Sanctions Act (22 U.S.C. 9529) that are not already imposed.

(3) Restrictions on correspondent and payable-through accounts

The President shall prohibit the opening, and prohibit or impose strict conditions on the maintaining, in the United States, of a correspondent account or payable-through account by the financial institution.

(e) Rule of construction

(1) Treatment of returns on immobilized Russian sovereign assets

(A) In general

A United States or foreign financial institution holding immobilized Russian sovereign assets under the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act (division F of Public Law 118–50; 22 U.S.C. 9521 note) or any other provision of law is not required to return any interest earned on those assets and due to the Russian Federation.

(B) Exception for interest earned

Subparagraph (A) shall not be construed as affecting the treatment of interest earned on the assets of persons the assets of which have been blocked under any provision of law.

(2) Loans to Ukraine using immobilized Russian sovereign assetsSanctions imposed under this section shall not apply with respect to payments on—

(A)

the loans provided by the United States and the Group of 7 or the European Union to Ukraine that are serviced and repaid with the proceeds of immobilized Russian sovereign assets; or

(B)

any loans from the United States or countries that are members of the Group of 7 or the European Union made after September 18, 2026, using proceeds from immobilized Russian sovereign assets.

(Pub. L. 119–111, div. A, title I, § 103, Sept. 18, 2026, 140 Stat. 1033.)

Editorial Notes

References in Text

The International Emergency Economic Powers Act, referred to in subsec. (d)(1), is title II of Pub. L. 95–223, Dec. 28, 1977, 91 Stat. 1626, which is classified generally to chapter 35 (§ 1701 et seq.) of Title 50, War and National Defense. For complete classification of this Act to the Code, see Short Title note set out under section 1701 of Title 50 and Tables.