Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
The PEACE Act of 2025 aims to pressure Russia toward peace negotiations with Ukraine by imposing financial sanctions. The bill requires the Treasury Secretary to prohibit or strictly limit U.S. banking access for foreign financial institutions that provide significant services to Russian entities already under sanctions, as well as to Russian companies operating in the energy sector—specifically requiring the Secretary to examine whether major Russian oil and gas companies like Gazprom, Rosneft, and Lukoil should be targeted. The regulations must be finalized within 180 days of the bill's enactment, with violations subject to penalties under existing sanctions law. The President retains authority to waive these sanctions for up to 180 days at a time if doing so advances peace negotiations or serves the national interest, but must notify Congress with a detailed explanation. The sanctions would automatically expire either 30 days after Russia ceases aggressive actions toward Ukraine or after five years, whichever comes first.
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