S 808
Stop Russian Market Manipulation Act
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Bill overview
This bill, the Stop Russian Market Manipulation Act, prohibits the import of specific minerals – platinum, palladium, braggite, rhodium, ruthenium, nickel, copper, and zinc – from Russia. The import ban will begin 90 days after the bill’s enactment and will remain in place until the President certifies that Russia has ended hostilities against Ukraine. However, if Russia resumes hostilities within three years of a certification, the ban will automatically reinstate. The President is prohibited from issuing any waivers related to this import restriction.
Key provisions
- Prohibits the import of platinum, palladium, braggite, rhodium, ruthenium, nickel, copper, and zinc from Russia.
- The import ban begins 90 days after the bill’s enactment.
- The ban continues until the President certifies that Russia has ended hostilities against Ukraine.
- If Russia resumes hostilities within three years of a certification, the ban automatically resumes.
- The President cannot waive the import prohibition.
- Defines ‘Russian entity’ for the purposes of the bill.
Who is affected
- U.S. importers of the specified minerals
- Russian mineral producers and entities
- The global market for these minerals
Notable changes
- Specifically targets the import of certain minerals from Russia.
- Establishes a temporary suspension of the ban based on a presidential certification.
- Includes a probationary period where the ban can be reinstated if Russia resumes hostilities.
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119th CONGRESS — 1st Session
S. 808
IN THE SENATE OF THE UNITED STATES
A BILL
To prohibit the importation of certain minerals from the Russian Federation.
This Act may be cited as the Stop Russian Market Manipulation Act
.
The minerals specified in this subsection are the following:
Platinum, unwrought or in semimanufactured forms, classified under heading 7110 of the Harmonized Tariff Schedule of the United States (in this Act, referred to as the HTS
), including—
braggite;
rhodium; and
ruthenium.
If, at any time during the 3-year period after the President submits a certification described in paragraph (1), the President certifies to Congress that the Government of the Russian Federation has resumed hostilities against Ukraine, the prohibition under subsection (a) shall—
remain in effect until the President submits to Congress another certification described in paragraph (1); and
after the President submits such a certification, be subject to resumption as described in this paragraph.
Notwithstanding any other provision of law, the President may not waive the prohibition under subsection (a).
In this section, the term Russian entity means an entity that is organized under the laws of, or otherwise subject to the jurisdiction of, the Russian Federation.