Reporting on Influence and Subversion by the Kremlin Act or the RISK Act This bill directs the Department of State to submit to Congress an assessment of subversive activities by the Russian Federation. The assessment shall be conducted by a federally funded research and development center or another appropriate independent entity with expertise in diplomatic and military developments in Europe and the Russian Federation. Such entity may use and incorporate information from previous studies and shall include assessments of: disinformation and propaganda activities of the Russian Federation; support by the Russian Federation for separatist activities and other aggressive actions aimed at undermining the sovereignty of foreign countries, particularly in Ukraine and the Baltic countries; cyber intrusions by the Russian Federation to influence the infrastructure and democratic processes in the United States and other countries; the use of energy exports by the Russian Federation for purposes of political or economic coercion and significant investment in energy infrastructure by the Russian government or Russian-controlled entities; and the deterioration of democratic conditions in the Russian Federation. The President is authorized to establish in the Department of the Treasury the Countering Russian Influence Fund to be used by the State Department for bilateral assistance to counter activities carried out in countries in Europe, Eurasia, and Central Asia by the Russian Federation to support disinformation and propaganda, interfere in foreign elections, and undermine financial transparency and governance. Amounts in the fund may be made available to carry out its purposes through civil society and other organizations that seek to mitigate the expansion of Russian influence and aggression, including through public awareness campaigns and exchange activities.