Washington, DC - Today, Representative Gregory W. Meeks, Chair of the House Foreign Affairs Committee, introduced legislation that would impose punishing economic and other consequences on Russia if it further invades or undermines Ukrainian sovereignty. This bill is the House companion bill to the Senate’s Defending Ukraine Sovereignty Act of 2022, introduced by Senator Menendez. 

 Key provisions of the bill include: 

• Sanctions on the Nord Stream 2 pipeline 
• Sanctions on Russian extractive industries 
• Sanctions on at least 3 Russian financial institutions 
• Prohibiting all transactions of new Russian debt 
• Sanctions on Vladimir Putin and other Russian leaders 
• Expedited security assistance for Ukraine 
• Expanded programming to counter Russian disinformation and cyber activity 
• A national security waiver 

Full text of the bill can be found here. 

“Russia’s continued troop buildup, both on the border of Ukraine and in Belarus, is an act of aggression that is as reckless as it is alarming. While I remain hopeful that diplomacy can de-escalate tensions on the Ukrainian border, it is necessary that the United States, together with our transatlantic allies, make clear that any activities constituting an invasion by the Russian army into sovereign territory will be met with significant repercussions. This legislation would impose significant consequences on Russia, both financially and otherwise, and Congress stands ready to act should President Putin continue to pursue its provocative military buildup on Ukraine’s borders,” said Chairman Gregory W. Meeks. “I look forward to working with Senator Menendez and the Administration to move this legislation expeditiously to the President’s desk so that it can be signed into law.”