This bill aims to curtail financial benefits to Russia from its oil and gas exports by immediately nullifying two specific general licenses. These licenses, Russia-related General License 133 and General License 134A, had previously authorized the delivery and sale of Russian crude oil and petroleum products of Russian Federation origin to India until early March 2026. The legislation also prohibits the Secretary of the Treasury from issuing any future authorizations for transactions involving the sale, delivery, or offloading of Russian crude oil or petroleum products that would otherwise be illegal. The bill mandates the President to impose sanctions within 30 days on any Russian person involved in oil and gas extraction, refinement, production, or maritime transportation. These sanctions include the blocking of assets within U.S. jurisdiction and the denial or revocation of U.S. visas for implicated individuals. However, exceptions are provided for transactions necessary to comply with international obligations, facilitate humanitarian assistance, or support U.S. intelligence and national security activities. Furthermore, the legislation requires the Secretary of State to submit regular reports every 60 days for three years, detailing the impact of the nullified licenses on Russian oil exports, sale prices, and government revenue. A separate reporting requirement mandates the Secretary of State to provide reports every 180 days for two years on any involvement of Russian state-owned or state-affiliated energy companies in the abduction, forcible deportation, or indoctrination of Ukrainian civilians, including children.