Federal Contracting for Peace and Security Act

Peters, Gary C.

Federal Contracting for Peace and Security Act This bill requires executive agencies to terminate their contracts with companies conducting business operations in territory internationally recognized as Russia. This requirement ends when Russia takes steps to restore the safety, sovereignty, and condition of Ukraine. The bill makes exceptions for (1) good faith efforts by a contractor to comply, (2) business operations in Russia authorized by a license issued by the Office of Foreign Assets Control or the Bureau of Industry and Security or otherwise allowed to operate notwithstanding the imposition of sanctions or export controls, and (3) contracts related to the operation and maintenance of U.S. Government consular offices and diplomatic posts in Russia. The bill shall not apply to the procurement of products or services for (1) the benefit, either directly or through the efforts of regional allies, of Ukraine; or (2) humanitarian purposes to meet basic human needs. The bill provides for a waiver where in the national interest of the United States. <ul> </ul>