H.R. 4768 — Introduced in House

I 118th CONGRESS 1st Session H. R. 4768 IN THE HOUSE OF REPRESENTATIVES July 20, 2023Ms. Waters (for herself and Mr. Nunn of Iowa) introduced the following bill; which was referred to the Committee on Financial Services A BILL To require the Secretary of the Treasury to instruct the United States Executive Directors at the international financial institutions to advocate for investment in projects that decrease reliance on Russia for agricultural commodities. 1. Short title This Act may be cited as the No Russian Agriculture Act. 2. United States advocacy for investment in projects that decrease reliance on Russia for agricultural commodities (a) In general Title XIV of the International Financial Institutions Act (22 U.S.C. 262n–262n–3) is amended by adding at the end the following: 1405. Advocacy for investment in projects that decrease reliance on Russia for agricultural commodities (a) In general The Secretary of the Treasury shall instruct the United States Executive Director at each international financial institution (as defined in section 1701(c)(2)) to use the voice, vote, and influence of the United States, to the maximum extent practicable, to encourage the respective institution to— (1) support projects that decrease the reliance of countries on Russia for agricultural commodities, particularly fertilizer and grain; (2) ensure the resilience of global grain supplies; and (3) stimulate private investment in the projects. (b) Waiver authority The Secretary of the Treasury may waive subsection (a) in the national interest of the United States. . (b) Repeal Section 1405 of such Act, as added by this section, is repealed effective on the earlier of— (1) the date that is 5 years after the date of the enactment of this Act; or (2) the date that is 30 days after the date the President reports to the Congress that the termination of such section 1405 is important to the national interest of the United States, with an explanation of the reasons therefor.