NOTIFICATIONS TO CONGRESS UNDER UKRAINE FREEDOM SUPPORT ACT OF 2014.

SEC. 229. NOTIFICATIONS TO CONGRESS UNDER UKRAINE FREEDOM SUPPORT ACT OF 2014. (a) Sanctions Relating to Defense and Energy Sectors of the Russian Federation.—Section 4 of the Ukraine Freedom Support Act of 2014 (22 U.S.C. 8923) is amended— (1) by redesignating subsections (g) and (h) as subsections (h) and (i), respectively; (2) by inserting after subsection (f) the following: “(g) Notifications and Certifications to Congress. “(1) Imposition of sanctions. The President shall notify the appropriate congressional committees in writing not later than 15 days after imposing sanctions with respect to a foreign person under subsection (a) or (b). “(2) Termination of sanctions with respect to russian producers, transferors, or brokers of defense articles. Subject to section 216 of the Russia Sanctions Review Act of 2017, the President may terminate the imposition of sanctions under subsection (a)(2) with respect to a foreign person if the President submits to the appropriate congressional committees— “(A) a notice of and justification for the termination; and “(B) a notice that— “(i) the foreign person is not engaging in the activity that was the basis for the sanctions or has taken significant verifiable steps toward stopping the activity; and “(ii) the President has received reliable assurances that the foreign person will not knowingly engage in activity subject to sanctions under subsection (a)(2) in the future.” ; and (3) in subparagraph (B)(ii) of subsection (a)(3), by striking “subsection (h)” and inserting “subsection (i)”. (b) Sanctions on Russian and Other Foreign Financial Institutions.—Section 5 of the Ukraine Freedom Support Act of 2014 (22 U.S.C. 8924) is amended— (1) by redesignating subsections (e) and (f) as subsections (f) and (g), respectively; (2) by inserting after subsection (d) the following: “(e) Notification to Congress on Imposition of Sanctions. The President shall notify the appropriate congressional committees in writing not later than 15 days after imposing sanctions with respect to a foreign financial institution under subsection (a) or (b).” ; and (3) in subsection (g), as redesignated by paragraph (1), by striking “section 4(h)” and inserting “section 4(i)”.