This bill terminates General License No. 8C, which was issued by the Department of the Treasury's Office of Foreign Assets Control to authorize energy-related transactions involving specified Russian financial institutions. Further, the bill applies property-blocking sanctions to those Russian financial institutions listed in the license.
To terminate General License No. 8C of the Office of Foreign Assets 
 Control of the Department of the Treasury and require the application 
  of sanctions under Executive Order 14024 to the entities listed in 
                        General License No. 8C.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. TERMINATION OF GENERAL LICENSE NO. 8C OF OFFICE OF FOREIGN 
              ASSETS CONTROL; APPLICATION OF SANCTIONS TO CERTAIN 
              ENTITIES.

    Effective on the date of the enactment of this Act--
            (1) General License No. 8C of the Office of Foreign Assets 
        Control of the Department of the Treasury shall have no force 
        or effect; and
            (2) sanctions imposed under Executive Order 14024 (50 
        U.S.C. 1701 note; relating to blocking property with respect to 
        specified harmful foreign activities of the Government of the 
        Russian Federation) shall apply with respect to each entity 
        specified in General License No. 8C.
                                 <all>
A bill to terminate General License No. 8C of the Office of Foreign Assets Control of the Department of the Treasury and require the application of sanctions under Executive Order 14024 to the entities listed in General License No. 8C.
A bill to terminate General License No. 8C of the Office of Foreign Assets Control of the Department of the Treasury and require the application of sanctions under Executive Order 14024 to the entities listed in General License No. 8C.
Official Titles - Senate
Official Title as Introduced
A bill to terminate General License No. 8C of the Office of Foreign Assets Control of the Department of the Treasury and require the application of sanctions under Executive Order 14024 to the entities listed in General License No. 8C.
Sen. Marshall, Roger