Union Calendar No. 236
117th CONGRESS 2d Session |
[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.
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]
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,
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.
Union Calendar No. 236 | |||||
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[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 |