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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 Nov 18, 2020.
This bill prohibits the use of federal funds to support or facilitate Russia's participation in a proceeding of the Group of Seven (a group consisting of the seven largest major advanced economies, as determined by the International Monetary Fund) or to reconstitute the Group of Eight to include Russia. (Russia was disinvited from the Group of Eight in 2014 after it occupied parts of Ukraine, including the Crimea region.)
This prohibition shall terminate after
the Department of State and the Office of the Director of National Intelligence certify that Russia has halted all interference into the elections of certain countries, including the United States and other North Atlantic Treaty Organization (NATO) member states; the State Department certifies that Russia has ended its occupation of Crimea and certain parts of Georgia; and the State Department certifies that Russia is complying with its commitments and taking specified actions related to these areas.