Sec. 308. Imposition of price cap vessel sanctions
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Upon making an affirmative determination under section 301 and not later than 15 days following such a determination, the President shall impose the sanctions described in section 317 with respect to any foreign vessel that knowingly transports Russian oil in contravention of the Russian oil price cap policy. Sanctions under this section shall not apply with respect to a person providing provisions to a vessel otherwise subject to sanctions under this section if such provisions are intended for the safety and care of the crew aboard the vessel, the protection of human life aboard the vessel, or the maintenance of the vessel to avoid any environmental or other significant damage.
Not later than 60 days after the date of enactment of this Act, the Secretary of State and the Secretary of the Treasury shall jointly submit to the Committee on Foreign Affairs of the House of Representatives and the Committee on Foreign Relations of the Senate a strategy to enhance international compliance with the Russian oil price cap policy. The strategy under subsection
(a)shall include— an overview of general international compliance with the Russian oil price cap policy; a list of the countries known to have purchased significant quantities of Russian oil at prices above the price agreed to in the Russian oil price cap policy set forth by the Group of Seven ( G7 ) nations; any known methods used by such countries to avoid detection of their purchases of Russian oil at prices above the price agreed to in the Russian oil price cap policy; an assessment of possible incentives the United States could provide to countries listed pursuant to paragraph
(2)to encourage compliance with the Russian oil price cap policy; an assessment of whether the imposition of additional sanctions, including possible secondary sanctions, would enhance international compliance with the Russian oil price cap policy; a description of the views of the government of each country participating in the Russian oil price cap policy regarding whether the price cap under such policy should be lowered or not; and a description of the United States diplomatic engagement with the government of each country participating in the Russian oil price cap policy regarding the appropriateness of the current cap, including any diplomatic engagement intended to encourage support for the lowering of the price cap.