H.R. 7506

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7506 Introduced in House (IH)]

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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.
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