This legislation requires the President to impose sanctions on foreign persons who engage in, facilitate, or materially support the purchase or importation of crude oil or petroleum products of Russian Federation origin. These sanctions, effective 90 days after enactment, involve blocking all transactions in property and interests in property of such foreign persons that are within U.S. jurisdiction. The measure aims to restrict Russia's revenue from oil sales by targeting entities globally that continue to deal in its petroleum products. The bill outlines several permissible exceptions, allowing the President to apply up to two types. One exception is for countries that agree to credit funds from Russian oil purchases to an in-country account, usable only for transactions in agricultural commodities, food, medicine, or medical devices, while also committing to significantly reduce their Russian oil purchases. Another exception applies if payments per barrel are deposited into an account established for the benefit of Ukraine, with funds designated for reconstruction or the purchase of defense articles. A third exception is for countries providing significant economic or military support to Ukraine. Importantly, none of these exceptions apply if Russian oil or petroleum products are purchased above the relevant price cap determined by the Secretary of the Treasury, regardless of the service provider's country of origin. The provisions of this act, and any sanctions imposed under it, are scheduled to terminate five years after its enactment.