§262p–12a Ukraine debt payment relief

Summary

The Treasury Secretary must tell U.S. representatives at international financial institutions to push for immediate debt relief for Ukraine. With the Secretary of State, the Treasury must begin talks with other governments and creditor groups, including the Paris Club, to pursue broad debt-payment relief. The Treasury must also direct U.S. reps to support concessional financing for Ukraine and to seek economic help for Ukrainian refugees, including those of African and Asian descent, and for countries hosting them that are eligible for multilateral development bank aid. By December 31 each year, the President must report these actions to the House Committees on Financial Services, Appropriations, and Foreign Affairs and to the Senate Committees on Foreign Relations and Appropriations, and must make the report public. The President may waive this law if it is in the national interest and must tell Congress why. The law ends on the earlier of 7 years after December 23, 2022, or 30 days after the President reports to Congress that the Government of the Russian Federation has ceased its destabilizing activities with respect to the sovereignty and territorial integrity of Ukraine.