PEACE Act of 2025 | ChamberLight

REPORTED· 119TH CONGRESS

House BillHR 4346Civil actions and liabilityFraud offenses and financial crimes

PEACE Act of 2025

INTRO JUL 10· LAST ACTION OCT 3

READING

8MIN

COSPONSORS

4BIPARTISAN

READER REACTIONS0 TOTAL

NO VOTES YET · BE THE FIRST

Reported, not passed

LEGISLATIVE PROGRESS

STEP 3 / 8

Introduced

In Committee

Reported

Passed House

Passed Senate

Conference

To President

Became Law

WHAT THE BILL DOES

AI-written

This bill would most directly affect foreign financial institutions that have dealings with sanctioned Russian individuals or entities, or with companies in Russia's energy sector. These banks could lose their ability to conduct business through the U.S. financial system, making international transactions much harder for them.

Russian entities, particularly those in the energy sector like Gazprom, Rosneft, and Lukoil, would face increased isolation from global finance. The Ukrainian government and its citizens would also be affected, as funds from seized Russian assets would be directed to the Ukraine Support Fund, potentially bolstering Ukraine's defense and recovery efforts. U.S. financial institutions would be required to identify, seize, and transfer certain Russian assets, impacting their operations and client relationships.

KEY PROVISIONS

5AI-extracted

PROVISION 01

Requires the U.S. Treasury to prohibit or impose strict conditions on U.S. accounts for foreign banks that provide significant services to sanctioned Russian entities or Russia's energy sector.

This provision aims to cut off Russia's access to the international financial system by targeting banks that support its sanctioned entities or energy industry.

PROVISION 02

Mandates the U.S. Treasury to seize, confiscate, or transfer 'covered Russian resources' held by U.S. financial institutions into the Ukraine Support Fund.

This would directly redirect Russian assets to aid Ukraine, providing financial support for defense and recovery efforts.

PROVISION 03

Requires the Treasury Secretary to determine within 90 days if major Russian energy companies (Gazprom, Rosneft, Lukoil) fall under the sanctions targeting the Russian energy sector.

This provision specifically targets some of Russia's largest and most important state-owned companies, potentially expanding the reach of sanctions.

PROVISION 04

Grants the President the authority to waive certain requirements of the sanctions for up to 180 days at a time, with reporting to Congress.

This allows for flexibility in implementing the sanctions, enabling the President to adapt to changing geopolitical circumstances or national interests.

PROVISION 05

Establishes civil and criminal penalties for individuals or entities that violate the regulations prescribed under this Act.

This ensures there are consequences for non-compliance, reinforcing the enforcement power of the new sanctions.

SPONSORSHIP

1 + 4

COSPONSOR BREAKDOWNBIPARTISAN · 50%

DEM 3 REP 1 IND 0

ACTION TIMELINE

6 EVENTS

OCT 3

Reported (Amended) by the Committee on Financial Services. H. Rept. 119-324.

COMMITTEE

OCT 3

Placed on the Union Calendar, Calendar No. 277.

CALENDARS

JUL 22

Committee Consideration and Mark-up Session Held

COMMITTEE

JUL 22

Ordered to be Reported (Amended) by the Yeas and Nays: 53 - 1.

COMMITTEE

BILL INFO

TypeHouse Bill

NumberHR 4346

Congress119th

StatusReported

IntroducedJul 10, 2025

Last actionOct 3, 2025

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REPORTED· 119TH CONGRESS · FINANCIAL SERVICES COMMITTEE · INTRODUCED JUL 10, 2025

House BillHR 4346Civil actions and liabilityFraud offenses and financial crimes

PEACE Act of 2025

INTRODUCED JUL 10, 2025· LAST ACTION OCT 3, 2025

PASSAGE CHANCES

—%

READING

8 min

COSPONSORS

COMPLEXITY

Moderate

Call my reps

LEGISLATIVE PROGRESS

STEP 3 OF 8

Introduced

In Committee

Reported

Passed House

Passed Senate

Conference

To President

Became Law

Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law

WHAT THE BILL DOES

AI-written

KEY PROVISIONS

AI-extracted

high

Requires the U.S. Treasury to prohibit or impose strict conditions on U.S. accounts for foreign banks that provide significant services to sanctioned Russian entities or Russia's energy sector.

This provision aims to cut off Russia's access to the international financial system by targeting banks that support its sanctioned entities or energy industry.

high

Mandates the U.S. Treasury to seize, confiscate, or transfer 'covered Russian resources' held by U.S. financial institutions into the Ukraine Support Fund.

This would directly redirect Russian assets to aid Ukraine, providing financial support for defense and recovery efforts.

med

Requires the Treasury Secretary to determine within 90 days if major Russian energy companies (Gazprom, Rosneft, Lukoil) fall under the sanctions targeting the Russian energy sector.

This provision specifically targets some of Russia's largest and most important state-owned companies, potentially expanding the reach of sanctions.

med

Grants the President the authority to waive certain requirements of the sanctions for up to 180 days at a time, with reporting to Congress.

This allows for flexibility in implementing the sanctions, enabling the President to adapt to changing geopolitical circumstances or national interests.

high

Establishes civil and criminal penalties for individuals or entities that violate the regulations prescribed under this Act.

This ensures there are consequences for non-compliance, reinforcing the enforcement power of the new sanctions.

DEADLINES & DATES

AI-extracted

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Not later than 180 days after the date of enactment of this Act.

Secretary of the Treasury to prescribe regulations for sanctions on foreign financial institutions.

Not later than 90 days after the date of enactment of this Act.

Secretary of the Treasury to submit a report determining if Gazprom, Rosneft, and Lukoil are foreign persons in the Russian energy sector.

Not later than 90 days following the date of the enactment of this Act.

Secretary of the Treasury to seize, confiscate, transfer, or vest covered Russian resources held by U.S. financial institutions.

Not more than 180 days at a time.

Presidential waiver for sanctions on foreign financial institutions.

Up to 180 days at a time, for a cumulative period not to exceed 1 year.

Presidential waiver for transfer of certain Russian assets.

PENALTIES & ENFORCEMENT

AI-extracted

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

TYPE	AMOUNT	WHO
civil	Not to exceed the greater of $377,700 or an amount that is twice the amount of the transaction that is the basis of the violation.	A person who violates, attempts to violate, conspires to violate, or causes a violation of regulations.
criminal	Not more than $1,000,000 fine, or if a natural person, imprisonment for not more than 20 years, or both.	A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of, a violation of regulations.

GLOSSARY

AI-written

Correspondent Account: A bank account established by one financial institution at another financial institution to facilitate international transactions, typically for its customers.
Payable-Through Account: An account opened at a U.S. financial institution by a foreign bank, allowing the foreign bank's customers to conduct transactions directly through the U.S. bank, often without having individual accounts there.
Sanctions: Economic or financial restrictions imposed by a government on another country, individuals, or entities to achieve specific foreign policy or national security objectives.
Executive Order: A directive issued by the President of the United States that manages operations of the federal government and has the force of law without requiring Congressional approval.
Foreign Financial Institution: A bank or other organization that offers financial services and is located or operating outside the United States.
Covered Russian Resources: Assets belonging to the Russian government or related entities that are held within U.S. financial institutions and can be targeted for seizure under this Act.

ACTION TIMELINE

6 EVENTS

OCT 3, 25

Reported (Amended) by the Committee on Financial Services. H. Rept. 119-324.

COMMITTEE

OCT 3, 25

Placed on the Union Calendar, Calendar No. 277.

CALENDARS

JUL 22, 25

Committee Consideration and Mark-up Session Held

COMMITTEE

JUL 22, 25

Ordered to be Reported (Amended) by the Yeas and Nays: 53 - 1.

COMMITTEE

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Committee Referrals

Financial Services CommitteeReferred

Oct 3, 2025

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PEACE Act of 2025

LEGISLATIVE PROGRESS

WHAT THE BILL DOES

KEY PROVISIONS

SPONSORSHIP

ACTION TIMELINE

BILL INFO

READER REACTIONS

Discussion

PEACE Act of 2025

LEGISLATIVE PROGRESS

WHAT THE BILL DOES

KEY PROVISIONS

DEADLINES & DATES

PENALTIES & ENFORCEMENT

GLOSSARY

ACTION TIMELINE

SPONSORS

READER REACTIONS

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Discussion

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PEACE Act of 2025

LEGISLATIVE PROGRESS

WHAT THE BILL DOES

KEY PROVISIONS

SPONSORSHIP

ACTION TIMELINE

BILL INFO

READER REACTIONS

Discussion

PEACE Act of 2025

LEGISLATIVE PROGRESS

WHAT THE BILL DOES

KEY PROVISIONS

DEADLINES & DATES

PENALTIES & ENFORCEMENT

GLOSSARY

ACTION TIMELINE

SPONSORS

READER REACTIONS

What do you think?

Discussion

MORE INFORMATION

Committee Referrals

Related Legislation

Related Hearings

Various Measures