§262p–12a Ukraine Debt Payment Relief

Summary

Requires the Treasury Secretary to use U.S. influence at international financial institutions to push for immediate debt payment relief for Ukraine, to back low-cost financial aid for Ukraine, and to seek help for Ukrainian refugees (including refugees of African and Asian descent) and for countries hosting them. The Treasury Secretary must also work with the Secretary of State to start talks with other governments and commercial creditors, through the Paris Club and other channels, to pursue broad debt relief. "International financial institutions" means the multilateral lenders defined elsewhere. By December 31 each year, the President must send a report on 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 the rules if it is in the national interest and must explain why to Congress. 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 destabilizing the sovereignty and territorial integrity of Ukraine.