22 U.S.C. § 8921 — Definitions
submitted 12 years ago by Pub. L. 113-272 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 328 words · no verdicts yet
This section defines key terms used throughout this chapter on Russia sanctions, including "financial institution," "foreign person," "knowingly," "Russian person," and "special Russian crude oil project." Several terms -- like "account" and "defense article" -- simply point to definitions already given in other federal laws.
In this chapter:
(1) "Account," "correspondent account," and "payable-through account" mean whatever they mean under section 5318A of title 31.
(2) "Appropriate congressional committees" means (A) the Senate Foreign Relations and Banking, Housing, and Urban Affairs Committees, and (B) the House Foreign Affairs and Financial Services Committees.
(3) "Defense article," "defense service," and "training" mean whatever they mean under section 2794 of this title.
(4) "Financial institution" means a financial institution listed in specific subparagraphs — (A) through (J), (M), or (Z) — of section 5312(a)(2) of title 31.
(5) "Foreign financial institution" has the meaning given in a specific Treasury regulation, or any similar regulation or ruling.
(6) "Foreign person" means any individual or entity that is not a U.S. citizen, a permanent resident (green card holder), or an entity created under U.S. or state law.
(7) "Knowingly" — for conduct, a circumstance, or a result — means the person actually knew about it, or should have known about it.
(8) "Russian person" means (A) an individual who is a citizen or national of Russia, or (B) an entity organized under Russian law.
(9) "Special Russian crude oil project" means a project to pump crude oil from (A) Russia's exclusive economic zone in waters deeper than 500 feet, (B) Russian Arctic offshore areas, or (C) shale formations located in Russia.
In this chapter:
The terms “account”, “correspondent account”, and “payable-through account” have the meanings given those terms in section 5318A of title 31.
The term “appropriate congressional committees” means—
the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate; and
the Committee on Foreign Affairs and the Committee on Financial Services of the House of Representatives.
The terms “defense article”, “defense service”, and “training” have the meanings given those terms in section 2794 of this title.
The term “financial institution” means a financial institution specified in subparagraph (A), (B), (C), (D), (E), (F), (G), (H), (I), (J), (M), or (Z) of section 5312(a)(2) of title 31.
The term “foreign financial institution” has the meaning given that term in section 561.308 of title 31, Code of Federal Regulations (or any corresponding similar regulation or ruling).
The term “foreign person” means any individual or entity that is not a United States citizen, a permanent resident alien, or an entity organized under the laws of the United States or any jurisdiction within the United States.
The term “knowingly”, with respect to conduct, a circumstance, or a result, means that a person has actual knowledge, or should have known, of the conduct, the circumstance, or the result.
The term “Russian person” means—
an individual who is a citizen or national of the Russian Federation; or
an entity organized under the laws of the Russian Federation.
The term “special Russian crude oil project” means a project intended to extract crude oil from—
the exclusive economic zone of the Russian Federation in waters more than 500 feet deep;
Russian Arctic offshore locations; or
shale formations located in the Russian Federation.
Source credit: (Pub. L. 113–272, § 2, Dec. 18, 2014, 128 Stat. 2952; Pub. L. 116–283, div. F, title LXI, § 6110(e)(2), Jan. 1, 2021, 134 Stat. 4563.)
- 2014Enacted · Pub. L. 113-272 · 128 Stat. 2952
- 2021Amended · Pub. L. 116-283 · 134 Stat. 4563
A history note hasn’t been published yet. The record shows enactment by Pub. L. 113-272 on 2014-12-18.
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