H.R.1677 - Stop Russian Market Manipulation Act (119th Congress)
Summary
H.R.1677, the Stop Russian Market Manipulation Act, aims to prohibit the importation of specific minerals (platinum, nickel, copper) from the Russian Federation. The bill targets minerals produced in Russia or obtained to circumvent the import ban. The prohibition would terminate one year after the President certifies to Congress that Russia has ended hostilities against Ukraine, with a provision for automatic resumption if hostilities resume within three years after the initial certification.
Expected Effects
The immediate effect would be a reduction in the supply of these minerals in the US market, potentially increasing prices for industries that rely on them. This could impact manufacturing and technology sectors. The long-term effect depends on Russia's actions in Ukraine and the ability of the US to find alternative sources for these minerals.
Potential Benefits
- Strengthens national security by reducing reliance on Russian resources.
- Applies economic pressure on Russia to cease hostilities against Ukraine.
- Supports international efforts to isolate Russia for its actions.
- May incentivize domestic production or sourcing of these minerals from other countries.
- Upholds American values by opposing aggression and supporting international law.
Most Benefited Areas:
Potential Disadvantages
- Potential increase in the cost of goods that rely on these minerals.
- Possible disruptions to supply chains for affected industries.
- Risk of retaliatory measures from Russia.
- Administrative burden of enforcing the import ban and monitoring compliance.
- Potential for circumvention of the ban through third-party countries.
Most Disadvantaged Areas:
Constitutional Alignment
The bill aligns with the constitutional power of Congress to regulate commerce with foreign nations (Article I, Section 8, Clause 3). It also reflects the President's role in foreign policy and national security. The bill does not appear to infringe on any specific individual rights or liberties protected by the Constitution or its amendments. The delegation of authority to the President to certify the end of hostilities is a common practice and generally upheld as constitutional.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).