,i  #aah? ,,congress  #a/ ,session  ,h4 
,r4 #dhbe  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,july #bd1 #bjbc,ms4  
,dean ( ,p5nsylvania 7= h]self & ,mr4   
,b>r7 introduc$ ! foll[+ bill2 :i* 0    
ref]r$ to ! ,committee on ,=eign        
,affairs  ,a ,,bill  ,to require !      
imposition ( sanctions & o!r measures   
relat+ to ! ,russian oil price cap      
policy1 & = o!r purposes4  #a4 ,%ort    
title ,?is ,act may be cit$ z ! ,no     
,illegal ,oil f ,russia ,act ( #bjbc4   
#b4 ,diplomatic /rategy to enhance      
int]national compliance ) ! ,russian oil
 price cap policy  7a7 ,/rategy ,n lat] 
?an #ahj days aft] ! date ( enactm5t (  
?is ,act1 ! ,secret>y ( ,/ate & !       
,secret>y ( ! ,treasury %all jo9tly     
submit to ! ,committee on ,=eign        
,affairs ( ! ,h\se ( ,repres5tatives & !
 ,committee on ,=eign ,relations ( !    
,s5ate a /rategy to enhance int]national
 compliance ) ! ,russian oil price cap  
policy4  7b7 ,matt]s ,! /rategy "u      
subsection 7a7 %all include-- 7#a7 an   

ov]view ( g5]al int]national compliance 
) ! ,russian oil price cap policy2  7#b7
 a li/ ( ! c\ntries kn[n to h pur*as$   
significant quantities ( ,russian oil at
 prices above ! price agre$ to 9 !      
,russian oil price cap policy set =? by 
! ,gr\p ( ,sev5 7,g#g7 nations2  7#c7   
any kn[n me?ods us$ by su* c\ntries to  
avoid detection ( _! pur*ases ( ,russian
 oil at prices above ! price agre$ to 9 
! ,russian oil price cap policy2  7#d7  
an assessm5t ( possible inc5tives !     
,unit$ ,/ates c\ld provide to c\ntries  
li/$ pursuant to p>agraph 7#b7 to       
enc\rage compliance ) ! ,russian oil    
price cap policy2  7#e7 an assessm5t (  
:e!r ! imposition ( additional          
sanctions1 includ+ possible second>y    
sanctions1 w\ld enhance int]national    
compliance ) ! ,russian oil price cap   
policy2  7#f7 a description ( ! views ( 
! gov]nm5t ( ea* c\ntry p>ticipat+ 9 !  
,russian oil price cap policy reg>d+    
:e!r ! price cap "u su* policy %\ld be  
l[]$ or n2 &  7#g7 a description ( !    

,unit$ ,/ates diplomatic engagem5t ) !  
gov]nm5t ( ea* c\ntry p>ticipat+ 9 !    
,russian oil price cap policy reg>d+ !  
appropriat5ess ( ! curr5t cap1 includ+  
any diplomatic engagem5t int5d$ to      
enc\rage support = ! l[]+ ( ! price cap4
  #c4 ,reports on global impact ( !     
,russian oil price cap policy  7a7 ,9   
g5]al ,n lat] ?an #fj days aft] ! date (
 enactm5t ( ?is ,act1 & e #ij days      
!reaft] until ! date describ$ 9         
subsection 7d71 ! ,secret>y ( ,/ate1 9  
coord9ation ) ! ,secret>y ( ! ,treasury 
& ! ,secret>y ( ,en]gy1 %all submit to !
 appropriate congressional committees a 
report on ! global impact ( ! ,russian  
oil price cap policy4  7b7 ,elem5ts ,ea*
 report "u subsection 7a7 %all include  
an analysis ( ! impact ( ! ,russian oil 
price cap policy dur+ ! #ij-;day p]iod  
cov]$ by ! report1 & a =eca/ ( su*      
impact ov] ! subsequ5t #ahj days1 )     
respect to ! foll[+ metrics3 7#a7       
,global crude oil prices1 includ+ a     
comp>ison ( global crude oil prices ov] 

"t s9ce ,decemb] #bjbb1 & ! price set 9 
! oil price cap policy4  7#b7 ,! volume 
& sale price ( ,russian crude & ref9$   
oil product exports4  7#c7 ,rev5ue e>n$ 
by ! ,russian ,f$]ation ?r\gh exports ( 
oil products4  7#d7 ,russian oil        
production levels4  7#e7 ,rev5ue        
collect$ by entities locat$ 9 a ,g#g    
c\ntry1 ! ,european ,union1 or ,au/ralia
 t provide m>itime s]vices includ+--    
7,a7 trad+ & commodities brok]+2  7,b7  
f9anc+2  7,c7 %ipp+2  7,d7 insurance1   
includ+ re9surance & protection &       
indemnity2 &  7,e7 flagg+2 & cu/oms     
brok]+4  7#f7 ,! economies ( ,g#g       
c\ntries1 memb] /ates ( ! ,european     
,union1 & ,au/ralia4  7c7 ,appropriate  
congressional committees def9$ ,9 ?is   
section1 ! t]m appropriate congressional
 committees means-- 7#a7 ! ,committee on
 ,=eign ,relations & ! ,committee on    
,en]gy & ,natural ,res\rces ( ! ,s5ate2 
&  7#b7 ! ,committee on ,=eign ,affairs 
& ! ,committee on ,en]gy & ,comm]ce ( ! 
,h\se ( ,repres5tatives4  7d7 ,sunset ,!

 date describ$ 9 ?is subsection is !    
e>li] ( ! foll[+3 7#a7 ,! date t is #c  
ye>s aft] ! date ( enactm5t ( ?is ,act4 
7#b7 ,! date on :i* ! ,russian oil price
 cap policy ceases to be 9 effect4  #d4 
,imposition ( sanctions  7a7 ,9 g5]al ,n
 lat] ?an #ahj days aft] ! date ( !     
enactm5t ( ?is ,act1 ! ,presid5t %all1  
pursuant to subsection 7b71 block !     
assets ( any =eign p]son t ! ,presid5t  
det]m9es is a =eign vessel t kn[+ly     
transports ,russian oil 9 contrav5tion (
 ! ,russian oil price cap policy4  7b7  
,asset block+ ,not)/&+ ! requirem5ts (  
section #bjb ( ! ,int]national ,em]g5cy 
,economic ,p[]s ,act 7#ej ,u4,s4,c4     
#agja71 ! ,presid5t may ex]cise all p[]s
 grant$ to ! ,presid5t by t ,act to !   
ext5t necess>y to block & prohibit all  
transactions 9 all prop]ty & int]e/s 9  
prop]ty ( ! =eign p]son if su* prop]ty &
 int]e/s 9 prop]ty are 9 ! ,unit$       
,/ates1 come )9 ! ,unit$ ,/ates1 or are 
or come )9 ! possession or control ( a  
,unit$ ,/ates p]son4  7c7 ,exceptions   

7#a7 ,exception = c]ta9 gov]nm5t        
entities ,sanctions "u ?is section %all 
n apply ) respect to a vessel regi/]$ "u
 ! jurisdiction (-- 7,a7 a memb] c\ntry 
( ! ,european ,union2  7,b7 ,au/ralia2  
or  7,c7 a ,g#g c\ntry4  7#b7 ,exception
 relat+ to ! provision ( humanit>ian    
assi/ance ,sanctions "u ?is section may 
n be impos$ ) respect to transactions or
 ! facilitation ( transactions =-- 7,a7 
! provision ( humanit>ian assi/ance2 &  
7,b7 transport+ goods or s]vices t are  
necess>y to c>ry out op]ations relat+ to
 humanit>ian assi/ance or humanit>ian   
purposes2  7#c7 ,exception = safety (   
vessels & crew ,sanctions "u ?is section
 %all n apply ) respect to a p]son      
provid+ provisions to a vessel o!rwise  
subject to sanctions "u ?is section if  
su* provisions are int5d$ = ! safety &  
c>e ( ! crew abo>d ! vessel1 !          
protection ( human life abo>d ! vessel1 
or ! ma9t5ance ( ! vessel to avoid any  
environm5tal or o!r significant damage4 
7#d7 ,exception to comply ) national    

security ,! foll[+ activities %all be   
exempt f sanctions "u ?is section3 7,a7 
,activities subject to ! report+        
requirem5ts "u title ,v ( ! ,national   
,security ,act ( #aidg 7#ej ,u4,s4,c4   
#cjia et seq474  7,b7 ,any au?oriz$     
intellig5ce1 law en=cem5t1 or o!r       
national security activities ( ! ,unit$ 
,/ates4  7d7 ,national int]e/ waiv] ,!  
,presid5t may waive ! application (     
sanctions "u ?is section ) respect to a 
p]son if ! ,presid5t-- 7#a7 det]m9es t !
 waiv] is 9 ! national int]e/s ( !      
,unit$ ,/ates2 &  7#b7 submits to !     
appropriate congressional committees a  
report on ! waiv] & ! reasons = ! waiv]4
  7e7 ,implem5tation2 p5alties  7#a7    
,implem5tation ,! ,presid5t may ex]cise 
all au?orities provid$ to ! ,presid5t "u
 sections #bjc & #bje ( ! ,int]national 
,em]g5cy ,economic ,p[]s ,act 7#ej      
,u4,s4,c4 #agjb & #agjd7 to c>ry out ?is
 section4  7#b7 ,p5alties ,a p]son t    
violates1 attempts to violate1 conspires
 to violate1 or causes violation ( ?is  

section or any regulation1 lic5se1 or   
ord] issu$ to c>ry out ?is section %all 
be subject to ! p5alties set =? 9       
subsections 7b7 & 7c7 ( section #bjf (  
,int]national ,em]g5cy ,economic ,p[]s  
,act 7#ej ,u4,s4,c4 #agje7 to ! same    
ext5t z a p]son t commits an unlawful   
act describ$ 9 subsection 7a7 ( t       
section4  7f7 ,sunset ,! au?ority to    
impose sanctions "u ?is section %all    
t]m9ate on ! date t is ! e>li] ( !      
foll[+3 7#a7 ,! date t is #e ye>s aft] !
 date ( ! enactm5t ( ?is ,act4  7#b7 ,! 
date on :i* ! ,russian oil price cap    
policy ceases to be 9 effect4  7g7      
,consultations ,prior to ! imposition ( 
sanctions "u ?is section1 ! ,secret>y ( 
,/ate %all consult ) ! appropriate      
c\nt]p>ts ( ! ,gov]nm5ts ( ,au/ralia1   
,g#g c\ntries1 & memb] c\ntries ( !     
,european ,union ) respect to !         
imposition ( sanctions4  7h7            
,appropriate congressional committees   
def9$ ,9 ?is section1 ! t]m appropriate 
congressional committees means-- 7#a7 ! 

,committee on ,=eign ,relations & !     
,committee on ,bank+1 ,h\s+1 & ,urban   
,affairs ( ! ,s5ate2 &  7#b7 !          
,committee on ,=eign ,affairs & !       
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives4  #e4           
,def9itions ,9 ?is ,act3 7#a7 ,=eign    
p]son ,! t]m =eign p]son means a p]son t
 is n a ,unit$ ,/ates p]son4  7#b7      
,kn[+ly ,! t]m kn[+ly1 ) respect to     
conduct1 a circum/ance1 or a result1    
means t a p]son has actual k1 or %\ld h 
kn[n1 ( ! conduct1 ! circum/ance1 or !  
result4  7#c7 ,russian oil price cap    
policy ,! t]m ,russian oil price cap    
policy means ! agreem5t betwe5 ! ,unit$ 
,/ates1 o!r ,g#g c\ntries1 ! ,european  
,union1 & ,au/ralia ann\nc$ 9 ,decemb]  
#bjbb to ban a range ( s]vices relat$ to
 ! m>itime transport ( crude oil (      
,russian ,f$]ation orig9 unless pur*as]s
 buy ! oil at or bel[ #fj p] b>rel1 &   
any subsequ5t revisions to t agreem5t4  
7#d7 ,unit$ ,/ates p]son ,! t]m ,unit$  
,/ates p]son means-- 7,a7 a ,unit$      

,/ates citiz5 or an ali5 lawfully       
admitt$ = p]man5t resid5ce to ! ,unit$  
,/ates2  7,b7 an entity organiz$ "u !   
laws ( ! ,unit$ ,/ates or any           
jurisdiction )9 ! ,unit$ ,/ates1 includ+
 a =eign bran* ( su* an entity2 or  7,c7
 any p]son locat$ 9 ! ,unit$ ,/ates4