House Bill 6899
117th Congress(2021-2022)
Russia and Belarus SDR Exchange Prohibition Act of 2022
Active
Active
Passed Senate on Sep 21, 2022
Overview
Text
Introduced
Mar 2, 2022
Latest Action
Sep 22, 2022
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
6899
Congress
117
Policy Area
International Affairs
International Affairs
Primary focus of measure is matters affecting foreign aid, human rights, international law and organizations; national governance; arms control; diplomacy and foreign officials; alliances and collective security. Measures concerning trade agreements, tariffs, foreign investments, and foreign loans may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Arkansas
Wisconsin
Florida
Kentucky
Minnesota
Missouri
California
South Carolina
Tennessee
Tennessee
Nevada
House Votes (2)
Senate Votes (1)
Passed
May 11, 2022
Type
Final Passage Under Suspension Of The Rules Results
House Roll Call Votes
Summary

Russia and Belarus SDR Exchange Prohibition Act of 2022

This bill prohibits the Department of the Treasury from engaging in any transaction involving the exchange of Special Drawing Rights (SDRs) held by Russia or Belarus.

The SDR is an international reserve asset maintained by the International Monetary Fund (IMF) based on contributions from IMF member countries. SDRs may be exchanged between member countries and may also be exchanged for currencies.

Treasury must also (1) vigorously advocate for IMF member countries to prohibit transactions involving the exchange of SDRs held by Russia or Belarus, and (2) direct U.S. representatives to the IMF to oppose any allocation of SDRs to Russia or Belarus.

The bill's provisions shall be in effect until the earlier of (1) five years after this bill's enactment, or (2) 30 days after the President reports to Congress that the governments of Russia and Belarus have ceased destabilizing activities directed at Ukraine's sovereignty and territorial integrity.

Text (6)
Public Record
Record Created
Mar 3, 2022 8:13:15 AM
Record Updated
Sep 23, 2022 1:31:53 PM