On the recordDecember 14, 2022
As we enter the final weeks of the 117th Congress, it is important that we acknowledge the work that we have done as a body to limit the financial capabilities of Russia's illegal war in Ukraine. Earlier this year, I introduced H.R. 6899, the Russia and Belarus SDR Exchange Prohibition Act, which passed with bipartisan support in both the House and the Senate, and was signed into law by President Biden in October. This bill closes a loophole around Western sanctions by freezing Russia and Belarus out of future International Monetary Fund financing by preventing them from using special drawing rights, known as SDRs, to fund their nefarious activities: The war in Ukraine. We must stay vigilant of the aggressive tendencies of other nations, such as Russia and Belarus, and make sure they are not able to pledge or transfer, that is, cash in those SDRs to fund their terror. It is important that we continue to work together in the new Congress to make sure that aggression is not rewarded and that we are working to limit the financial capabilities of countries who demonstrate their aggression toward another sovereign nation. halting the spread of captagon
