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Decreasing Russian Oil Profits Act of 2026
Introduced Feb 11, 2026 · Last action Feb 11, 2026 — Referred to the House Committee on Foreign Affairs.
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Summary
This legislation is called the Decreasing Russian Oil Profits Act of 2026. Referred to the House Committee on Foreign Affairs.
Full bill text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7506 Introduced in House (IH)]
<DOC>
119th CONGRESS
2d Session
H. R. 7506
To impose sanctions with respect to foreign persons dealing in crude
oil or petroleum products of Russian Federation origin.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 11, 2026
Mr. McCaul (for himself, Mr. Keating, Mr. Lawler, Ms. Kaptur, Mr.
Quigley, and Mr. Gottheimer) introduced the following bill; which was
referred to the Committee on Foreign Affairs
_______________________________________________________________________
A BILL
To impose sanctions with respect to foreign persons dealing in crude
oil or petroleum products of Russian Federation origin.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Decreasing Russian Oil Profits Act
of 2026''.
SEC. 2. IMPOSITION OF SANCTIONS WITH RESPECT TO TRADE IN RUSSIAN ORIGIN
PETROLEUM PRODUCTS.
(a) In General.--Beginning on the date that is 90 days after the
date of the enactment of this Act, the President shall impose the
sanctions described in subsection (b) with respect to any foreign
person that the Secretary of the Treasury, in consultation with the
Secretary of State, determines--
(1) is responsible for or complicit in, or has directly or
indirectly engaged or attempted to engage in, the purchase or
importation into any country of crude oil or petroleum products
of Russian Federation origin;
(2) has knowingly facilitated financial transactions
related to an activity described in paragraph (1);
(3) has materially assisted, sponsored, or provided
material support for any activity described in paragraph (1) or
(2) by any person with respect to which sanctions have been
imposed under paragraph (1) or (2); or
(4) is or has been a chief executive officer or member of
the board of directors of any entity described in any of
paragraphs (1) through (3).
(b) Sanctions Described.--The sanctions described in this
subsection are the exercise all of the powers granted to the President
by the International Emergency Economic Powers Act (50 U.S.C. 1701 et
seq.) to the extent necessary to block and prohibit all transactions in
property and interests in property of a foreign person if such property
and interests in property are in the United States, come within the
United States, or are or come within the possession or control of a
United States person.
(c) Permissible Exception Frameworks.--
(1) In general.--The President may apply not more than 2 of
the types of exceptions described in paragraph (2) with respect
to the application of sanctions under subsection (a).
(2) Exceptions described.--
(A) Exception for countries that isolate russian
funds and reduce purchases.--
(i) In general.--The President may apply an
exception to the application of sanctions under
subsection (a) with respect to the purchase or
importation into a country of crude oil or
petroleum products of Russian Federation origin
if the President determines and certifies in
writing to the appropriate congressional
committees that--
(I) any funds owed by the
government of that country or persons
of that country to the Russian
Federation or to the sellers of crude
oil or petroleum products of Russian
Federation origin as a result of the
purchase or importation will be--
(aa) credited to an account
located in that country; and
(bb) used only to
facilitate transactions in
agricultural commodities, food,
medicine, or medical devices
between the Russian Federation
and the country; and
(II) the government of the country
has committed to significantly reduce
its purchases of crude oil and
petroleum products of Russian
Federation origin.
(ii) Renewal required.--The authority to
apply the exception under clause (i) shall
expire if the President does not certify, not
later than 180 days after the date of the
enactment of this Act, and every 180 days
thereafter, that--
(I) the country has significantly
reduced its volume of purchases of
crude oil and petroleum products of
Russian Federation origin during the
preceding 180-day period; or
(II) the price and supply of crude
oil and petroleum products produced in
countries other than the Russian
Federation is not sufficient to permit
purchasers of crude oil and petroleum
products of Russian Federation origin
to reduce significantly in volume their
purchases from the Russian Federation.
(iii) Sanctions for misuse of account.--Any
foreign person responsible for or complicit in,
or that has directly or indirectly engaged or
attempted to engage in, transactions reliant on
the funds in an account described in clause
(i)(I) for any purpose other than to facilitate
transactions in agricultural commodities, food,
medicine, or medical devices between the
Russian Federation and the country in which the
account is located shall be subject to the
sanctions described in subsection (b).
(B) Exception for deposits into account to support
ukraine.--
(i) In general.--The President may apply an
exception to the application of sanctions under
subsection (a) with respect to the purchase or
importation into a country of crude oil or
petroleum products of Russian Federation origin
if a payment per barrel of such crude oil or
petroleum products has been deposited into an
account that the President has established for
the benefit of Ukraine.
(ii) Guidance.--The President may issue
guidance and develop implementation tools that
assist private sector entities in verifying
that the payments described in clause (i)
corresponding to specific purchases have been
deposited in the account described in that
clause.
(iii) Use of funds.--
(I) In general.--The funds in an
account established as described in
clause (i) shall be available only
for--
(aa) the purposes specified
in section 104(f) of the
Rebuilding Economic Prosperity
and Opportunity for Ukrainians
Act (division F of Public Law
118-50; 22 U.S.C. 9521 note);
and
(bb) funding the purchase
by the Government of Ukraine of
defense articles for Ukraine to
employ in response to Russian
Federation aggression.
(II) Timely disbursement.--A
significant proportion of funds in an
account established as described in
clause (i) shall be disbursed not less
frequently than every 90 days for the
purposes described in subclause (I).
(iv) Limitations on transfers and
expenditures of funds.--
(I) Notification of transfers.--
(aa) In general.--The
Secretary of State shall notify
the appropriate congressional
committees not fewer than 15
days before transferring any
funds from an account
established as described in
clause (i) to any other account
for the purposes described in
clause (iii) or otherwise
expending any of such funds for
such purposes.
(bb) Elements.--A
notification under item (aa)
shall specify--
(AA) the amount of
funds to be transferred
or expended;
(BB) the specific
purpose for which the
funds are transferred
or expended; and
(CC) the recipient
of those funds.
(II) Certification of transparency
and accountability.--No funds may be
transferred or otherwise expended from
an account established as described in
clause (i) unless the President submits
to the appropriate congressional
committees in writing a certification
that a plan exists to ensure
transparency and accountability for all
funds transferred into and expended
from any account receiving the funds.
(III) Joint resolution of
disapproval.--No funds may be
transferred or expended pursuant to
this clause if, within 15 days of
receipt of the notification under
subclause (I), a joint resolution is
enacted into law prohibiting such
transfer.
(C) Exception for countries supporting ukraine.--
(i) In general.--The President may apply an
exception to the application of sanctions under
subsection (a) with respect to the purchase or
importation into any country of crude oil or
petroleum products of Russian Federation origin
if the President determines and certifies in
writing to the appropriate congressional
committees that the government of that country
is providing significant economic or military
support to the Government of Ukraine.
(ii) Renewal required.--The authority to
apply the exception under clause (i) with
respect to a country shall expire if the
President does not certify, not later than 180
days after the date of the enactment of this
Act, and every 180 days thereafter, that the
government of the country is providing
significant economic or military support to the
Government of Ukraine.
(D) Temporary port-specific exceptions.--
(i) In general.--During the period
beginning on the date of the enactment of this
Act and ending on the date that is 270 days
after such date of enactment, the President may
apply an exception to the application of
sanctions under subsection (a) for the purchase
or the importation into any country of crude
oil or petroleum products of Russian Federation
exported from specific Russian Federation ports
if the President submits to the appropriate
congressional committees a report providing a
justification for the exception.
(ii) Limitation.--An exception applied
under clause (i) may not cover, at any time,
ports that are estimated to have cumulatively
accounted for more than half of the oil export
capacity of the Russian Federation in 2024.
(3) Sanctions related to crude oil and petroleum products
sold above price cap without regard to group of 7 nexus.--
(A) In general.--Any exception described in
paragraph (2) that the President applies to the
requirement to impose sanctions under subsection (a)
shall not apply with respect to an activity described
in subparagraph (B) if the activity facilitates the
maritime transport of crude oil or petroleum products
of Russian Federation origin purchased for an amount
greater than the relevant price cap determined by the
Secretary of the Treasury for crude oil or petroleum
products of Russian Federation origin.
(B) Activities described.--The activities described
in this subparagraph are transporting, trading or
commodities brokering, financing, shipping, insuring,
flagging, or customs brokering related to the purchase
or importation of crude oil or petroleum products of
Russian Federation origin.
(C) Applicability to service providers based
outside of group of 7 countries.--Subparagraph (A)
applies without regard to whether the person engaging
in an activity described in subparagraph (B) is
organized under the laws of or otherwise subject to the
jurisdiction of a country that is a member of the Group
of 7.
(d) Sunset.--The provisions of this section, and any sanctions
imposed under this section, shall terminate on the date that is 5 years
after the date of the enactment of this Act.
(e) Definitions.--In this section:
(1) Agricultural commodity.--The term ``agricultural
commodity'' has the meaning given such term in section 102 of
the Agricultural Trade Act of 1978 (7 U.S.C. 5602).
(2) Appropriate congressional committees.--The term
``appropriate congressional committees'' means--
(A) the Committee on Banking, Housing, and Urban
Affairs and the Committee on Foreign Relations of the
Senate; and
(B) the Committee on Foreign Affairs and the
Committee on Financial Services of the House of
Representatives.
(3) Defense article.--The term ``defense article'' has the
meaning given that term in section 47 of the Arms Export
Control Act (22 U.S.C. 2794).
(4) Foreign person.--The term ``foreign person'' means an
individual or entity that is not a United States person.
(5) Knowingly.--The term ``knowingly'', with respect to
conduct, a circumstance, or a result, means that a person had
actual knowledge, or should have known, of the conduct, the
circumstance, or the result.
(6) Medical device.--The term ``medical device'' has the
meaning given the term ``device'' in section 201 of the Federal
Food, Drug, and Cosmetic Act (21 U.S.C. 321).
(7) Medicine.--The term ``medicine'' has the meaning given
the term ``drug'' in section 201 of the Federal Food, Drug, and
Cosmetic Act (21 U.S.C. 321).
(8) United states person.--The term ``United States
person'' means--
(A) a United States citizen or an alien lawfully
admitted for permanent residence to the United States;
(B) an entity organized under the laws of the
United States or any jurisdiction within the United
States, including a foreign branch of such an entity;
or
(C) any person located in the United States.
<all>Official legislative text sourced from the public record (cached on CivicsHQ).
Official source
View the original bill, actions, and full legislative record on Congress.gov.
Status
In Committee
- 1Introduced
- 2Committee
- 3Floor
- 4Passed
- 5Signed
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