Sec. 314. Imposition of sanctions with respect to facilitating transactions for the Russian Armed Forces
233 words·~1 min read·
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Not later than 30 days after the date of the enactment of this Act, the President shall determine whether, on or after January 1, 2021, Promsvyazbank and any of the financial institutions specified in section 323 have knowingly conducted or facilitated any transactions for any branch of the Armed Forces of the Russian Federation that has been engaged in actions directly related to— military operations in the Donbas region of Ukraine or the illegally occupied territory of Crimea; the build-up of the Armed Forces of the Russian Federation along Ukraine’s border on or after December 1, 2021; or other military operations that have violated the sovereignty or territorial integrity of Ukraine.
If the President determines under subsection
(a)that Promsvyazbank has conducted or facilitated any transactions described in that subsection, the President shall impose the sanctions described in section 351(1) with respect to Promsvyazbank. If the President determines under subsection
(a)that one or more of the financial institutions specified in section 323 have conducted or facilitated transactions described in subsection (a), the President shall impose the sanctions described in section 351(1) with respect to one of those financial institutions. The President may impose the sanctions described in section 351(1) with respect to any entity owned or controlled by, or that is a successor to, a financial institution with respect to which sanctions are imposed under paragraph
(1)or
(2)of subsection (b).