A Republican bill with 3 Democratic cosponsors · See all 4 cosponsors
Last activity — Placed on the Union Calendar, Calendar No. 277.
Cleared committee, waiting for its first floor vote
A committee approved it and it is on the calendar of the chamber it started in.
This is further than most bills get, and still no promise of a vote: the calendar is a queue, and the majority leadership decides what is called. A bill can sit here until the Congress ends.
Its path through Congress
- Introduced
- On Calendar
What this bill would do
The PEACE Act of 2025 aims to secure a peaceful resolution to the Russia-Ukraine conflict through financial pressure. It requires the Secretary of the Treasury to prohibit or restrict certain foreign financial institutions from maintaining accounts in the United States if they serve specific Russian interests. The bill also directs the seizure and transfer of covered Russian resources held by U.S. financial institutions into the Ukraine Support Fund. These funds can be used for specific purposes or to purchase defense articles for Ukraine. The President has the authority to issue limited waivers for these requirements under certain conditions. The Act's provisions will end once the President reports a cessation of Russian destabilizing activities or after five years.
Yes
- Scored +5
Does this strengthen ties with allied countries?
The bill provides direct financial and defense support to Ukraine to aid in its sovereignty.
- Scored +3
Does this reduce how much oil, gas and coal is produced?
The bill targets foreign financial institutions serving the Russian energy sector to reduce their financial capabilities.
The opposite
- Scored -1
Is this likely to grow the economy?
The bill introduces significant financial sanctions and asset seizures which could cause global market volatility.
Who it would affect, and how
Potential Positive Impacts for People
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Support for Ukraine's Defense: The bill directs the transfer of seized Russian resources into the Ukraine Support Fund, which can be used for the purchase of defense articles for the Government of Ukraine (Section 6(a)(1)(B)).
-
Financial Pressure on Russian Energy: The Secretary of the Treasury is required to create regulations that could restrict foreign financial institutions that provide significant services to persons operating in the Russian energy sector (Section 3(a)(4)).
-
Economic Accountability for Sanctioned Entities: The bill targets foreign financial institutions that knowingly provide services to persons designated for sanctions under Executive Order 14024 or the Countering America's Adversaries through Sanctions Act (Section 3(a)(1)).
Potential Negative Impacts for People
-
Financial Penalties for Non-compliance: Individuals who violate the regulations established by this act could face significant civil penalties of up to $377,700 or twice the transaction amount, as well as criminal penalties including fines up to $1,000,000 and up to 20 years in prison (Section 3(b)).
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Restrictions on Foreign Financial Institutions: Foreign financial institutions may face prohibitions or strict conditions regarding the opening or maintaining of correspondent or payable-through accounts in the United States (Section 3(a)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- National Security And Foreign Policy
- Does this strengthen ties with allied countries? — The bill provides direct financial and defense support to Ukraine to aid in its sovereignty.
- Environment Energy And Infrastructure
- Does this reduce how much oil, gas and coal is produced? — The bill targets foreign financial institutions serving the Russian energy sector to reduce their financial capabilities.
- Economy And Finance
- Is this likely to grow the economy? — The bill introduces significant financial sanctions and asset seizures which could cause global market volatility.
- 10/3/2025
- Reported (Amended) by the Committee on Financial Services. H. Rept. 119-324.
- Placed on the Union Calendar, Calendar No. 277.
- 9/10/2025
- 1 Cosponsor added.
- 7/22/2025
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported (Amended) by the Yeas and Nays: 53 - 1.
- 7/21/2025
- 1 Cosponsor added.
- 7/14/2025
- 1 Cosponsor added.
- 7/10/2025
- Referred to the House Committee on Financial Services.
- 1 Cosponsor added.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Tom BarrettRepublican · Michigan
Herbert ConawayDemocrat · New Jersey
Josh GottheimerDemocrat · New Jersey
Thomas SuozziDemocrat · New York