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119-hr-5632119th CongressWALLET

PEACE Act

Sponsored By: Representative Issa, Darrell [R-CA-48]

Introduced

Summary

Creates a targeted U.S. sanctions regime aimed at deterring Azerbaijani military aggression and pushing a negotiated peace with Armenia. The bill would authorize visa bans, asset blocks, and sanctions on banks tied to Azerbaijani petroleum while carving out exceptions for food and medicine.

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  • Armenia and Armenian-led peace efforts: The bill would frame U.S. policy to support Armenia's sovereignty and back Armenian-led initiatives to secure a durable peace and reduce malign foreign influence.
  • Designated Azerbaijani persons: If the President determines hostile actions occurred, named individuals could face property blocking under the International Emergency Economic Powers Act and immediate visa ineligibility and revocations.
  • Foreign financial institutions: After a 60-day window following a presidential certification, banks that knowingly facilitate significant petroleum-related transactions with targeted Azerbaijani entities could lose access to correspondent and payable-through accounts.
  • Central banks and petroleum trade: Sanctions on foreign central banks would apply only to petroleum transactions occurring 180 days or more after certification, with limited exceptions for trade-funded accounts.
  • Humanitarian and trade exemptions: Sales of agricultural commodities, food, medicine, and medical devices are exempt from the financial sanctions to protect humanitarian flows.
  • Enforcement, relief, and timeline: The President could waive sanctions for national interest, individuals could be delisted after one year of verified disengagement, the President must report regularly on hostile actions, and the regime would expire seven years after enactment.

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 1 benefits, 2 costs, 1 mixed.

Visa bans and asset freezes for aggressors

If enacted, once the President certifies hostile actions by Azerbaijan, the U.S. would freeze assets and block transactions of covered foreign persons. Those people would be ineligible for U.S. visas and entry, and any existing visas would be revoked right away. During implementation of the August 8, 2025 Joint Declaration, the President could also sanction anyone the Secretary of State finds knowingly tried to delay or block a peace deal.

Limits on banks tied to Azerbaijani oil

If enacted, starting 60 days after certification, the U.S. would ban or tightly limit U.S. correspondent and payable‑through accounts for foreign banks that knowingly did significant deals with designated Azerbaijani petroleum‑linked banks. Treasury would publish lists of the Azerbaijani banks and the foreign banks covered. Sanctions on foreign central banks would apply only to petroleum trades done on or after 180 days after certification.

Waivers, reports, and 7-year sunset

If enacted, the President could waive sanctions for a person if it is in the U.S. national interest and reports the reasons to Congress. The President would report to Congress within 30 days of enactment and then every 90 days on hostile actions, plus provide a yearly review of sanctions. Sanctions could end if a person stops involvement for at least one year and is unlikely to reoffend for another year; for banks, Azerbaijan must cease hostile actions for at least one year. The President could release any credited funds and must notify Congress within 15 days. The Act would expire 7 years after enactment, and it would define key terms like “foreign person” and “United States person” to set who is covered.

Exceptions for food, medicine, and aid

If enacted, even when sanctions apply, banks could process sales of farm goods, food, medicine, and medical devices to Azerbaijan. Transactions to provide humanitarian aid, and the transport needed to deliver it, would be exempt when sanctions start. Beginning 60 days after certification, trade payments would also be exempt if the trade is only between the foreign bank’s country and Azerbaijan and the funds stay credited in that country.

Sponsors & CoSponsors

Sponsor

Issa, Darrell [R-CA-48]

CA • R

Cosponsors

  • Rep. Bilirakis, Gus M. [R-FL-12]

    FL • R

    Sponsored 9/30/2025

  • Rep. Steil, Bryan [R-WI-1]

    WI • R

    Sponsored 10/10/2025

Roll Call Votes

No roll call votes available for this bill.

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