S. 3771Senate117th Congress (2021-2023)In Committee

Stop Russian GOLD Act of 2022

Introduced March 7, 2022

AI-Generated Summary

Updated February 8, 2026 at 9:49 AM UTC

The Stop Russian GOLD Act of 2022 aims to prevent U.S. individuals and entities from doing business with foreign parties that purchase, sell, or transport gold originating from the Russian government or its central bank. It bars any transaction by a U.S. person with such foreign persons, targeting investors, traders, and other U.S. persons who might otherwise engage with them.

Key Provisions

  • Prohibits any transaction by a U.S. person with a foreign person that purchases, transacts in, or transports Russian government gold, including gold from the Central Bank held outside Russia.
  • Requires the Treasury Secretary to issue guidance within 30 days to help U.S. persons avoid accidental dealings with those foreign persons.
  • Allows the President to use authorities under the International Emergency Economic Powers Act to enforce the prohibition.
  • Sets penalties for violations in line with those provided under IEEPA.
  • Defines “foreign person” as any non‑U.S. individual or entity, and “U.S. person” as U.S. citizens, permanent residents, or entities organized under U.S. law.

Legislative Activity

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1 earlier action
SenateIntro Referral Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text: CR S1018-1019)

March 7, 2022

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SenateIntro Referral

Introduced in Senate

March 7, 2022

SenateIntro Referral

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text: CR S1018-1019)

March 7, 2022

Floor Debate

4 members

What members said about S. 3771 on the floor

2 Republicans2 Democrats
Jack Reed
Sen. Jack ReedD-RI · Mar 7, 2022

Mr. President, today I am introducing the Weatherization Assistance Program Improvements Act, which will make critical updates to ensure this important program can effectively serve even more…

Thomas R. Carper
Sen. Thomas R. CarperD-DE · Mar 7, 2022

Mr. President, today I am pleased to introduce, along with the Senator from Pennsylvania, Mr. Casey, the Junior Senator from Delaware, Mr. Coons, the Senator from New Jersey, Mr. Booker, the Senator…

John Cornyn
Sen. John CornynR-TX · Mar 7, 2022

President, I ask unanimous consent to print my bill for introduction in the Congressional Record. The bill prohibits U.S. persons from engaging in transactions with foreign persons who purchase or…

John Cornyn
Sen. John CornynR-TX · Mar 7, 2022

President, I ask unanimous consent to print my bill for introduction in the Congressional Record. The bill prohibits U.S. persons from engaging in transactions with foreign persons who purchase or…

John Thune
Sen. John ThuneR-SD · Mar 7, 2022

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Bill Text

Latest available legislative text

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Introduced in SenateIssued March 7, 2022

II

117th CONGRESS

2d Session

S. 3771

IN THE SENATE OF THE UNITED STATES

March 7, 2022

Mr. Cornyn (for himself, Ms. Hassan, Mr. Hagerty, and Mr. King) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To prohibit United States persons from engaging in transactions with foreign persons that purchase or transact in gold from the Russian Federation.

1.

Short title

This Act may be cited as the Stop Russian Government and Oligarchs from Limiting Democracy Act of 2022 or the Stop Russian GOLD Act of 2022.

2.

Prohibition on transactions with foreign persons that purchase or transact in Russian gold

(a)

In general

Any transaction by a United States person with a foreign person described in subsection (b) is prohibited.

(b)

Foreign person described

A foreign person is described in this subsection if the foreign person—

(1)

purchases, transacts in, or transports between countries gold received from the Government of the Russian Federation, including from reserves of the Central Bank of the Russian Federation held outside the Russian Federation; or

(2)

engages in a transaction—

(A)

involving gold; and

(B)

that has a physical or electronic nexus to the Russian Federation.

(c)

Guidance

Not later than 30 days after the date of the enactment of this Act, the Secretary of the Treasury shall publish guidance for United States persons with respect to compliance with this section, including guidance—

(1)

to ensure that United States persons are able to avoid unknowingly investing in or transacting with foreign persons described in subsection (b) through bundled or basked assets; and

(2)

to facilitate divestment from investment in and transactions with such foreign persons.

(d)

Implementation; penalties

(1)

Implementation

The President may exercise all authorities provided under sections 203 and 205 of the International Emergency Economic Powers Act (50 U.S.C. 1702 and 1704) to carry out this section.

(2)

Penalties

A person that violates, attempts to violate, conspires to violate, or causes a violation of this section or any regulation, license, or order issued to carry out this section shall be subject to the penalties set forth in subsections (b) and (c) of section 206 of the International Emergency Economic Powers Act (50 U.S.C. 1705) to the same extent as a person that commits an unlawful act described in subsection (a) of that section.

(e)

Definitions

In this section:

(1)

Foreign person

The term foreign person means an individual or entity that is not a United States person.

(2)

United states person

The term United States person means—

(A)

a United States citizen or an alien lawfully admitted for permanent residence to the United States; or

(B)

an entity organized under the laws of the United States or any jurisdiction within the United States, including a foreign branch of such an entity.