PEACE Act of 2025

The PEACE Act of 2025 would authorize the President, through the Secretary of the Treasury, to prohibit or impose strict conditions on the opening or maintenance in the United States of correspondent accounts or payable-through (PA) accounts held by foreign financial institutions that knowingly provide significant financial services to certain Russian-designated persons or their energy sector. The aim is to pressure Russia to seek a peaceful resolution to the Russia-Ukraine conflict by using targeted financial sanctions and banking restrictions. The bill relies on existing authorities under the International Emergency Economic Powers Act (IEEPA) and expands sanctions related to Russia, including specific references to Executive Orders and the CAATSA energy-related provisions. The act also requires a Congress-facing determination about whether major Russian energy companies (Gazprom, Rosneft, Lukoil) are considered foreign persons under the new framework, provides a limited regulator waiver option, and includes a sunset/termination clause tied to Russia’s destabilizing actions or a five-year horizon. In short, it would tighten access to U.S. financial rails for banks serving key Russian entities and energy firms, to push toward a peace settlement, while setting criteria, oversight, and a built-in expiration tied to the ongoing conflict.