Sec. 14. Strategy to protect Ukraine's defense industry from strategic competitors
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/bill/117/s/814/is/section-14·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
It is the sense of Congress that the United States should work with the Government of Ukraine to ensure strategic assets and companies in Ukraine’s defense industry are not subject to foreign ownership, control, or undue influence by strategic competitors to the United States, such as the People’s Republic of China (PRC). Not later than 180 days after the date of the enactment of this Act, the Secretary of Defense and the Secretary of State shall jointly submit to the appropriate committees of Congress a strategy to support Ukraine in protecting its defense industry from predatory investments. The strategy required under paragraph
(1)shall include the following elements: A description of the efforts by strategic competitors, such as the PRC, to acquire strategic assets and companies in Ukraine’s defense industry in a predatory manner and the national security implications for Ukraine, the United States, and other NATO allies and partners. A description of vulnerable strategic assets and companies in Ukraine’s defense industry that would benefit from foreign investments and joint ventures. A description of the reforms to Ukraine’s defense industry and export controls that are necessary to incentivize Western investments in them. A strategy to promote, as appropriate, United States direct investment in and joint ventures with strategic companies in Ukraine’s defense industry to provide an alternative to PRC investments, and to engage like-minded allies and partners on these efforts. The strategy required under paragraph
(1)shall be submitted in classified form. In this section, the term appropriate committees of Congress means— the Committee on Foreign Relations and the Committee on Armed Services of the Senate; and the Committee on Foreign Affairs and the Committee on Armed Services of the House of Representatives.