The No Aid for Russian Energy Act stops U.S. businesses from helping Russia's oil and gas industry. This bill aims to limit support for Russia amid ongoing conflicts.
If you work for a U.S. energy company, your job may be affected by this ban on Russian business.
Who this affects
U.S. companies · foreign individuals
What changes is this bill making?
1This bill prohibits U.S. companies from selling equipment or services to Russia's energy sector.
2The President must enforce this ban on exports and sales related to petroleum.
3U.S. companies are also responsible for actions of their foreign subsidiaries under this law.
4Certain medical and agricultural uses of petroleum products are exempt from this ban.
5The bill includes sanctions against foreign individuals who violate these restrictions.
