HR 7506
Decreasing Russian Oil Profits Act of 2026
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Bill overview
The Decreasing Russian Oil Profits Act of 2026 aims to limit Russia’s revenue from oil sales by imposing sanctions on foreign persons involved in purchasing or importing crude oil and petroleum products from Russia. The President can apply exceptions for countries that reduce their purchases, deposit funds to support Ukraine, or provide significant economic or military aid to Ukraine. Temporary exceptions may be granted for specific Russian ports. These sanctions are intended to be enforced through existing International Emergency Economic Powers Act authorities and will expire after five years.
Key provisions
- Sanctions will be imposed on foreign persons involved in purchasing or importing Russian oil and petroleum products starting 90 days after enactment.
- The President can apply exceptions for countries that reduce their Russian oil purchases and use funds to support agricultural commodities, food, medicine, or medical devices.
- Exceptions can be granted for deposits into an account specifically designated to support Ukraine.
- Exceptions may be issued for countries providing significant economic or military support to Ukraine.
- Temporary exceptions are available for specific Russian ports for a limited period.
- Sanctions will apply to activities related to the maritime transport, trading, financing, shipping, insuring, flagging, or customs brokering of Russian oil.
- The Act does not apply to activities facilitated by Group of 7 countries if the purchase exceeds the established price cap.
- The sanctions will expire after five years.
Who is affected
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119th CONGRESS — 2d Session
H. R. 7506
IN THE HOUSE OF REPRESENTATIVES
A BILL
To impose sanctions with respect to foreign persons dealing in crude oil or petroleum products of Russian Federation origin.
This Act may be cited as the Decreasing Russian Oil Profits Act of 2026
.
Beginning on the date that is 90 days after the date of the enactment of this Act, the President shall impose the sanctions described in subsection (b) with respect to any foreign person that the Secretary of the Treasury, in consultation with the Secretary of State, determines—
is responsible for or complicit in, or has directly or indirectly engaged or attempted to engage in, the purchase or importation into any country of crude oil or petroleum products of Russian Federation origin;
has knowingly facilitated financial transactions related to an activity described in paragraph (1);
has materially assisted, sponsored, or provided material support for any activity described in paragraph (1) or (2) by any person with respect to which sanctions have been imposed under paragraph (1) or (2); or
is or has been a chief executive officer or member of the board of directors of any entity described in any of paragraphs (1) through (3).
The sanctions described in this subsection are the exercise all of the powers granted to the President by the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) to the extent necessary to block and prohibit all transactions in property and interests in property of a foreign person if such property and interests in property are in the United States, come within the United States, or are or come within the possession or control of a United States person.
The President may apply an exception to the application of sanctions under subsection (a) with respect to the purchase or importation into a country of crude oil or petroleum products of Russian Federation origin if the President determines and certifies in writing to the appropriate congressional committees that—
any funds owed by the government of that country or persons of that country to the Russian Federation or to the sellers of crude oil or petroleum products of Russian Federation origin as a result of the purchase or importation will be—
used only to facilitate transactions in agricultural commodities, food, medicine, or medical devices between the Russian Federation and the country; and
the government of the country has committed to significantly reduce its purchases of crude oil and petroleum products of Russian Federation origin.
The authority to apply the exception under clause (i) shall expire if the President does not certify, not later than 180 days after the date of the enactment of this Act, and every 180 days thereafter, that—
the country has significantly reduced its volume of purchases of crude oil and petroleum products of Russian Federation origin during the preceding 180-day period; or
the price and supply of crude oil and petroleum products produced in countries other than the Russian Federation is not sufficient to permit purchasers of crude oil and petroleum products of Russian Federation origin to reduce significantly in volume their purchases from the Russian Federation.
Any foreign person responsible for or complicit in, or that has directly or indirectly engaged or attempted to engage in, transactions reliant on the funds in an account described in clause (i)(I) for any purpose other than to facilitate transactions in agricultural commodities, food, medicine, or medical devices between the Russian Federation and the country in which the account is located shall be subject to the sanctions described in subsection (b).
The President may issue guidance and develop implementation tools that assist private sector entities in verifying that the payments described in clause (i) corresponding to specific purchases have been deposited in the account described in that clause.
funding the purchase by the Government of Ukraine of defense articles for Ukraine to employ in response to Russian Federation aggression.
A significant proportion of funds in an account established as described in clause (i) shall be disbursed not less frequently than every 90 days for the purposes described in subclause (I).
A notification under item (aa) shall specify—
No funds may be transferred or otherwise expended from an account established as described in clause (i) unless the President submits to the appropriate congressional committees in writing a certification that a plan exists to ensure transparency and accountability for all funds transferred into and expended from any account receiving the funds.
No funds may be transferred or expended pursuant to this clause if, within 15 days of receipt of the notification under subclause (I), a joint resolution is enacted into law prohibiting such transfer.
The authority to apply the exception under clause (i) with respect to a country shall expire if the President does not certify, not later than 180 days after the date of the enactment of this Act, and every 180 days thereafter, that the government of the country is providing significant economic or military support to the Government of Ukraine.
The activities described in this subparagraph are transporting, trading or commodities brokering, financing, shipping, insuring, flagging, or customs brokering related to the purchase or importation of crude oil or petroleum products of Russian Federation origin.
Subparagraph (A) applies without regard to whether the person engaging in an activity described in subparagraph (B) is organized under the laws of or otherwise subject to the jurisdiction of a country that is a member of the Group of 7.
The provisions of this section, and any sanctions imposed under this section, shall terminate on the date that is 5 years after the date of the enactment of this Act.
In this section:
The term agricultural commodity has the meaning given such term in section 102 of the Agricultural Trade Act of 1978 (7 U.S.C. 5602).
The term appropriate congressional committees means—
the Committee on Banking, Housing, and Urban Affairs and the Committee on Foreign Relations of the Senate; and
the Committee on Foreign Affairs and the Committee on Financial Services of the House of Representatives.
The term defense article has the meaning given that term in section 47 of the Arms Export Control Act (22 U.S.C. 2794).
The term foreign person means an individual or entity that is not a United States person.
The term knowingly, with respect to conduct, a circumstance, or a result, means that a person had actual knowledge, or should have known, of the conduct, the circumstance, or the result.
The term medical device has the meaning given the term device in section 201 of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 321).
The term medicine has the meaning given the term drug in section 201 of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 321).
The term United States person means—
a United States citizen or an alien lawfully admitted for permanent residence to the United States;
an entity organized under the laws of the United States or any jurisdiction within the United States, including a foreign branch of such an entity; or
any person located in the United States.