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Title 22, Foreign Relations and IntercourseRelease 119-111

§10805 Prohibition on Transfers of Funds Involving the Russian Federation

Title 22 › CHAPTER 115 — SANCTIONS WITH RESPECT TO THE RUSSIAN FEDERATION › § 10805

Last updated Sep 25, 2026|Official source

Summary

Starting 30 days after September 18, 2026, banks and certain SEC-registered securities firms must not process money transfers to or from the Government of the Russian Federation (or any entity it owns), or transfers that directly or indirectly benefit Russian government officials. Depository institution — banks or similar firms under federal law. Broker or dealer — a securities firm registered with the SEC under the Securities Exchange Act of 1934. An allowed exception: a transfer is permitted if it is needed to carry out a transaction that is authorized by a specific or general license.

Full Legal Text

Title 22, §10805

Foreign Relations and Intercourse, Source: USLM XML via OLRC

(a)In general
Except as provided by subsection (b), effective on the date that is 30 days after September 18, 2026, a depository institution (as defined in section 461(b)(1)(A) of title 12) or a broker or dealer in securities registered with the Securities and Exchange Commission under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) may not process transfers of funds—
(1)to or from the Government of the Russian Federation, including any entity owned by the Government of the Russian Federation; or
(2)for the direct or indirect benefit of officials of the Government of the Russian Federation.
(b)Exception
A depository institution, broker, or dealer described in subsection (a) may process a transfer described in that subsection if the transfer arises from, and is ordinarily incident and necessary to give effect to, an underlying transaction that is authorized by a specific or general license.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

References in Text

The Securities Exchange Act of 1934, referred to in subsec. (a), is act June 6, 1934, ch. 404, 48 Stat. 881, which is classified principally to chapter 2B (§ 78a et seq.) of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see section 78a of Title 15 and Tables.

Reference

Citations & Metadata

Citation

22 U.S.C. § 10805

Title 22, Foreign Relations and Intercourse

Last Updated

Sep 25, 2026

Release point: 119-111