End Russian Oil Windfalls Act

Key Points

• The bill cancels two specific Treasury Department permissions (General Licenses 133 and 134A) that allowed Russian oil to be delivered and sold, including shipments headed to India. It also blocks the Treasury from issuing any similar permissions in the future.
• Within 30 days, the bill would require the president to impose sanctions on any Russian person involved in oil and gas extraction, refining, production, or maritime transportation of petroleum products. Sanctions include freezing their U.S. assets and banning them from entering the country.
• The bill requires the State Department to submit reports every 60 days for three years on Russian oil export volumes, sale prices, and revenue earned by the Russian government, including any premium earned due to the closure of the Strait of Hormuz.
• A separate report is required every 180 days for two years on whether Russian state-owned energy companies are involved in abducting, deporting, or indoctrinating Ukrainian civilians, including children.
• The bill includes humanitarian exceptions so that sanctions cannot block transactions for food, medicine, medical devices, or humanitarian aid, ensuring civilian populations are not harmed by the restrictions.