Sec. 326. Prohibition on and imposition of sanctions with respect to transactions involving Russian sovereign debt
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Upon making an affirmative determination under section 321 and not later than 30 days following such a determination, the President shall prohibit all transactions by United States persons involving the sovereign debt of the Government of the Russian Federation issued on or after the date of the enactment of this Act, including governmental bonds. Not later than 60 days after making an affirmative determination under section 321, the President shall identify and impose the sanctions described in section 351 with respect to foreign persons that the President determines engage in transactions involving the debt— of not fewer than 10 entities owned or controlled by the Government of the Russian Federation; and that is not subject to any other sanctions imposed by the United States.
Sanctions imposed under paragraph
(1)shall apply with respect to debt of an entity described in subparagraph
(A)of that paragraph that is issued after the date that is 90 days after the President makes an affirmative determination under section 321. Not later than 30 days after making an affirmative determination under section 321, and every 90 days thereafter, the President shall— submit to the appropriate committees of Congress a list of foreign persons that the President determines are engaged in transactions described in subsection (a); and impose the sanctions described in section 351 with respect to each such person.