Bill Sponsor
House Bill 6899
117th Congress(2021-2022)
Russia and Belarus SDR Exchange Prohibition Act of 2022
Became Law
Became Law
Became Public Law 117-185 on Oct 4, 2022
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Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
H. R. 6899 (Reported-in-House)

Union Calendar No. 236

117th CONGRESS
2d Session
H. R. 6899

[Report No. 117–316]


To prohibit the Secretary of the Treasury from engaging in transactions involving the exchange of Special Drawing Rights issued by the International Monetary Fund that are held by the Russian Federation or Belarus.


IN THE HOUSE OF REPRESENTATIVES

March 2, 2022

Mr. Hill introduced the following bill; which was referred to the Committee on Financial Services

May 10, 2022

Additional sponsors: Mr. Kustoff, Mr. Steil, Mr. Timmons, Mr. Barr, Mr. Sessions, Mrs. Wagner, Mr. Davidson, Mr. Rose, Mr. Posey, Mr. Emmer, Mr. Hollingsworth, Mr. Sherman, and Mrs. Lee of Nevada

May 10, 2022

Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed

[Strike out all after the enacting clause and insert the part printed in italic]

[For text of introduced bill, see copy of bill as introduced on March 2, 2022]


A BILL

To prohibit the Secretary of the Treasury from engaging in transactions involving the exchange of Special Drawing Rights issued by the International Monetary Fund that are held by the Russian Federation or Belarus.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Russia and Belarus SDR Exchange Prohibition Act of 2022”.

SEC. 2. Special Drawing Rights exchange prohibition.

(a) In general.—The Secretary of the Treasury may not engage in any transaction involving the exchange of Special Drawing Rights issued by the International Monetary Fund that are held by the Russian Federation or Belarus.

(b) Advocacy.—The Secretary of the Treasury shall—

(1) vigorously advocate that the governments of the member countries of the International Monetary Fund, to the extent that the member countries issue freely usable currencies, prohibit transactions involving the exchange of Special Drawing Rights held by the Russian Federation or Belarus; and

(2) direct the United States Executive Director at each international financial institution (as defined in section 1701(c)(2) of the International Financial Institutions Act) to use the voice and vote of the United States to oppose the provision of financial assistance to the Russian Federation and Belarus, except to address basic human needs of the civilian population.

(c) Termination.—The preceding provisions of this section shall have no force or effect on the earlier of—

(1) the date that is 5 years after the date of the enactment of this Act; or

(2) 30 days after the date that the President reports to the Congress that the governments of the Russian Federation and Belarus have ceased destabilizing activities with respect to the sovereignty and territorial integrity of Ukraine.

(d) Waiver.—The President may waive the application of this section if the President reports to the Congress that the waiver is in the national interest of the United States and includes an explanation of the reasons therefor.


Union Calendar No. 236

117th CONGRESS
     2d Session
H. R. 6899
[Report No. 117–316]

A BILL
To prohibit the Secretary of the Treasury from engaging in transactions involving the exchange of Special Drawing Rights issued by the International Monetary Fund that are held by the Russian Federation or Belarus.

May 10, 2022
Reported with an amendment; committed to the Committee of the Whole House on the State of the Union and ordered to be printed