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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jan 11, 2017.
Counteracting Russian Hostilities Act of 2017
This bill directs the President to impose U.S. entry and property blocking sanctions against: (1) a person that engages in significant activities for the government of the Russian Federation that undermine U.S. or allied cyber security, or (2) a foreign person responsible for serious human rights abuses in any territory occupied or controlled by Russia.
The President shall impose specified financial and property sanctions against a person that: (1) engages in a significant transaction on behalf of Russian defense or intelligence sectors; (2) invests specified amounts in Russian petroleum or natural gas resources, energy export pipelines, or civil nuclear projects; (3) purchases or facilitates the issuance of Russian sovereign debt; or (4) contributes to Russia's ability to privatize state-owned assets.
The Department of Homeland Security shall conduct public service campaigns to educate the people of the United States on cyber security threats and protective online practices.
No federal agency shall take any action that recognizes: (1) Russian sovereignty over Crimea, or (2) the independence of South Ossetia or Abkhazia from Georgia.
It is U.S. policy to assist Ukraine in restoring its sovereignty and territorial integrity.
Specified executive orders imposing Ukraine-related sanctions shall remain in effect.
The bill expresses the sense of Congress that the countries of Europe and Eurasia should redouble efforts to build resilience within their political systems and civil society to counter Russian efforts to undermine democratic institutions.
The Department of State shall report to Congress regarding Russian-controlled media outlets.
The bill establishes in the Treasury the Europe and Eurasia Democracy and Anti-Corruption Fund.
The Department of the Treasury shall establish a task force within the Financial Crimes Enforcement Network that focuses on illicit Russian-linked financial flows that interact with the U.S. financial system.