,i #aaith ,,congress #ast ,session ,h4 ,r4 #dcja ,,in ,,the ,,house ,,of ,,representatives ,july #g1 #bjbe,mr4 ,nunn of ,iowa 7for himself and ,mr4 ,gottheimer7 introduced the following bill2 which was referred to the ,committee on ,foreign ,affairs1 and in addition to the ,committee on ,financial ,services1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to secure a peaceful resolution to the ,russia-,ukraine conflict by requiring the ,secretary of the ,treasury to prohibit1 or impose strict conditions on1 the opening or maintaining in the ,united ,states of a correspondent account or a payable-through account by certain foreign financial institutions1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,preventing the ,escalation of ,armed ,conflict in ,europe ,act of #bjbe or the ,,peace ,act of #bjbe4 #b4 ,findings ,congress finds the following3 7#a7 ,during the night of ,march #f-g1 #bjbe1 only one week after the ,president called for peace between ,russia and ,ukraine1 the ,russian military bombarded ,ukrainian energy infrastructure and civilian residences4 7#b7 ,,dtek1 a ,ukrainian gas producer1 noted that the assault represented the sixth ,russian attack on its ,odesa facilities in just the preceding two and a half weeks4 7#c7 ,on ,march #g1 #bjbe1 the ,president published the following statement3 ,based on the fact that ,russia is absolutely pounding ,ukraine on the battlefield right now1 ,i am strongly considering large scale ,banking ,sanctions1 ,sanctions1 and ,tariffs on ,russia until a ,cease ,fire and ,,final ,,settlement ,,agreement ,,on ,,peace ,,is ,,reached4 ,to ,russia and ,ukraine1 get to the table right now1 before it is too late44 7#d7 ,despite the ,president's calls for a peace settlement1 ,russia has continued to assault ,ukraine1 including an ,april #d missile attack on ,kryvyi ,rih that killed #bj people and an ,april #ac strike on ,sumy resulting in #ce deaths4 7#e7 ,on ,may #be1 #bjbe1 ,russia launched its largest aerial attack of the war1 deploying hundreds of drones and ballistic missiles throughout ,ukrainian territory4 7#f7 ,on ,may #bg1 #bjbe1 the ,president posted on social media with reference to ,russian leader ,vladimir ,putin3 ,he's playing with fire64 #c4 ,sanctions with respect to the ,russian ,federation 7a7 ,in general ,not later than #ahj days after the date of the enactment of this ,act1 the ,secretary of the ,treasury shall prescribe regulations to prohibit1 or impose strict conditions on1 the opening or maintaining in the ,united ,states of a correspondent account or a payable-through account by a foreign financial institution that knowingly provides significant financial services to-- 7#a7 any foreign person designated for the imposition of sanctions with respect to the ,russian ,federation under-- 7,a7 ,executive ,orders #acffj1 #acffa1 #acffb1 #acfhe1 or #adjbd2 or 7,b7 title ,,ii of the ,countering ,america's ,adversaries through ,sanctions ,act 7,public ,law #aad-dd7 or an amendment made by that title2 7#b7 a foreign financial institution subject to the prohibitions of ,directive #b under ,executive ,order #adjbd2 7#c7 an entity listed in ,annex #a of ,directive #c under ,executive ,order #adjbd2 or 7#d7 any foreign person that the ,secretary finds operates in the energy sector of the ,russian ,federation4 7b7 ,implementation2 penalties 7#a7 ,implementation ,the ,president may exercise all authorities provided under sections #bjc and #bje of the ,international ,emergency ,economic ,powers ,act 7#ej ,u4,s4,c4 #agjb and #agjd7 to carry out this section4 7#b7 ,penalties ,a person that violates1 attempts to violate1 conspires to violate1 or causes a violation of this section or any regulation1 license1 or order issued to carry out this section shall be subject to the penalties set forth in subsections 7b7 and 7c7 of section #bjf of the ,international ,emergency ,economic ,powers ,act 7#ej ,u4,s4,c4 #agje7 to the same extent as a person that commits an unlawful act described in subsection 7a7 of that section4 #d4 ,determination required ,not later than #ij days after the date of enactment of this ,act1 the ,secretary of the ,treasury shall submit a report to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate determining whether the following are foreign persons described under section #c7;a77#d73 7#a7 ,gazprom4 7#b7 ,rosneft4 7#c7 ,lukoil4 #e4 ,waiver ,with respect to a foreign financial institution1 the ,president may waive the requirements of section #c7;a7 for not more than #ahj days at a time upon reporting to ,congress that-- 7#a7 the waiver advances the objective of resolving the national emergency described in any ,executive ,order listed under section #c7;a77#a72 or 7#b7 the waiver is important to the national interest of the ,united ,states1 provided that the ,president includes a detailed explanation of the reasons therefor4 #f4 ,termination ,this ,act shall have no force or effect on the earlier of-- 7#a7 #cj days after the date that the ,president reports to ,congress that the ,russian ,federation has ceased destabilizing activities with respect to the sovereignty and territorial integrity of ,ukraine2 or 7#b7 the date that is #e years after the date of the enactment of this ,act4