The PEACE Act of 2025 would impose strict new banking sanctions on Russia to pressure it toward ending the war in Ukraine. The bill requires the Treasury Department to ban or severely restrict foreign banks from accessing the U.S. financial system if they provide significant services to sanctioned Russian entities, including major energy companies like Gazprom, Rosneft, and Lukoil. The legislation would also force the seizure of Russian Central Bank assets held in U.S. financial institutions, with those funds transferred to support Ukraine's defense and reconstruction efforts. The Treasury Department must implement the banking restrictions within 180 days and seize Russian assets within 90 days, though the President can waive these requirements for up to 180 days at a time if it serves U.S. national interests or if Russia takes meaningful steps toward peace. The sanctions would automatically expire either when Russia stops its destabilizing activities in Ukraine or after five years, whichever comes first.
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