PEACE Act of 2025

The PEACE Act of 2025 requires the U.S. Treasury to restrict foreign banks from using U.S. financial accounts if they provide significant services to Russian energy companies or entities subject to existing U.S. sanctions. Within 180 days of enactment, the Treasury must issue regulations blocking such accounts, and must report within 90 days on whether major Russian energy firms like Gazprom, Rosneft, and Lukoil are covered under the energy sector provision. The sanctions would end 30 days after the President certifies Russia has stopped destabilizing Ukraine or after five years, whichever comes first. This bill directly affects foreign financial institutions doing business with Russia's energy sector or sanctioned entities.