Sec. 142. Report on crude oil price cap
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Not later than 180 days after the date of the enactment of this Act, and every 2 years thereafter, the Secretary of State, in coordination with the Secretary of the Treasury, the Secretary of Commerce, and the Secretary of Energy, shall submit to the appropriate congressional committees a report that includes the following and all related material information: A determination of whether crude oil of Russian Federation origin or refined petroleum products made from such oil are entering the United States and, if so, at what volume.
A description of efforts undertaken by the executive branch to monitor and prevent the importation of such oil and petroleum products. A description and assessment of efforts undertaken by the Department of State to engage countries, individuals, entities, port stakeholders, and other organizations involved in the maritime oil trade to promote responsible practices, uphold environmental and safety standards, prevent and disrupt trade in goods subject to sanctions imposed by the United States, and enhance compliance with the crude oil price cap.
An assessment of income derived by the Russian Federation from individuals, entities, and organizations involved in the acquisition, transport, sale, and delivery of such oil or petroleum products in excess of the crude oil price cap, including through entities beneficially owned by the Government of the Russian Federation between January 2022 and the date of the report. An estimate of income described in paragraph
(4)projected to be derived by the Russian Federation from calendar year 2025 through the calendar year following submission of the report. An assessment of the extent to which the Russian Federation benefits financially from the sale of such oil or petroleum products exported in compliance with the crude oil price cap. The requirement to submit reports under subsection
(a)shall terminate on the earlier of— January 1, 2030; or the date that is 90 days after the termination of the prohibition on importation of energy products of the Russian Federation under section 3 of the Ending Importation of Russian Oil Act ( Public Law 117–109 ; 22 U.S.C. 8923 note).
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