An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

United States person

An individual who is a U.S. citizen or permanent resident, or a company or organization established under U.S. law.

Russian Federation energy sector

The industry in Russia involved in producing, processing, and distributing energy, primarily oil and natural gas.

Petroleum equipment and services

Tools, machinery, technology, and specialized labor used for exploring, drilling, extracting, refining, and transporting oil and gas.

Foreign person

An individual or entity (like a company) that is not a United States person.

Sanctions

Economic penalties or restrictions imposed by one country on another (or on specific individuals/entities) to achieve political goals, such as asset freezes or travel bans.

Asset blocking

A type of sanction where a person or entity is prevented from accessing or moving their money, property, or other financial assets, typically held within the sanctioning country's jurisdiction.

International Emergency Economic Powers Act (IEEPA)

A U.S. law that gives the President broad authority to regulate international commerce after declaring a national emergency in response to an unusual and extraordinary threat to the national security, foreign policy, or economy of the United States.