A bill to terminate General License No. 8A of the Office of Foreign Assets Control of the Department of the Treasury and require the application of sanctions under Executive Order 14024 to the Russian financial institutions listed in General License No. 8A.

12/29/2022, 11:48 PM

Congressional Summary of S 4054

This bill terminates General License No. 8A, which was issued by the Department of the Treasury's Office of Foreign Assets Control to authorize energy-related transactions involving specified Russian financial institutions. Further, the bill applies property-blocking sanctions to those Russian financial institutions listed in the license.

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Current Status of Bill S 4054

Bill S 4054 is currently in the status of Bill Introduced since April 7, 2022. Bill S 4054 was introduced during Congress 117 and was introduced to the Senate on April 7, 2022. Bill S 4054's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of April 7, 2022

Bipartisan Support of Bill S 4054

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 4054

Primary Policy Focus

Foreign Trade and International Finance

Potential Impact Areas

- Energy storage, supplies, demand

- Europe

- Foreign and international banking

- Foreign property

- Licensing and registrations

- Oil and gas

- Russia

- Sanctions

- Trade restrictions

Alternate Title(s) of Bill S 4054

A bill to terminate General License No. 8A of the Office of Foreign Assets Control of the Department of the Treasury and require the application of sanctions under Executive Order 14024 to the Russian financial institutions listed in General License No. 8A.