S 4930

This bill, the Federal Contracting for Peace and Security Act, prohibits U.S. federal agencies from entering into, extending, or renewing contracts with companies operating in the Russian Federation. It aims to cut off financial support to Russia while allowing for exceptions such as good-faith compliance efforts, authorized operations under sanctions, and contracts related to U.S. diplomatic missions or humanitarian aid. Agencies can seek waivers if a contract serves the national security or public interest of the United States, and the bill establishes a process for implementing these restrictions through regulations.