Vessel war risk insurance

(a) Eligibility Notwithstanding section 53902 of title 46, United States Code, for the period beginning on the date of enactment of this Act, and ending 5 years after such date, a covered vessel shall be deemed to be eligible for insurance or reinsurance under chapter 539 of title 46, United States Code, if such vessel is engaged in transportation in waterborne commerce importing cargo to, or exporting cargo from, Ukraine. (b) Expansion of cargo Subparagraphs (B) through (D) of section 53903(a)(3) of title 46, United States Code, shall not apply to cargo imported or exported to or from Ukraine. (c) Definitions In this section: (1) Covered vessel The term covered vessel means a vessel that is owned by a citizen of— (A) a member country of the North Atlantic Treaty Organization; (B) Ukraine; or (C) any other country the Secretary of State, in consultation with the Secretary of Transportation, determines, in the interest of national security, shall be considered eligible for insurance or reinsurance under chapter 539 of title 46, United States Code. (2) Owned by a citizen The term owned by a citizen means ownership by an entity that is considered to be a citizen of a country in the same manner as an entity is deemed to be a citizen of the United States under section 50501 of title 46, United States Code.

(a) Eligibility Notwithstanding section 53902 of title 46, United States Code, for the period beginning on the date of enactment of this Act, and ending 5 years after such date, a covered vessel shall be deemed to be eligible for insurance or reinsurance under chapter 539 of title 46, United States Code, if such vessel is engaged in transportation in waterborne commerce importing cargo to, or exporting cargo from, Ukraine. (b) Expansion of cargo Subparagraphs (B) through (D) of section 53903(a)(3) of title 46, United States Code, shall not apply to cargo imported or exported to or from Ukraine. (c) Definitions In this section: (1) Covered vessel The term covered vessel means a vessel that is owned by a citizen of— (A) a member country of the North Atlantic Treaty Organization; (B) Ukraine; or (C) any other country the Secretary of State, in consultation with the Secretary of Transportation, determines, in the interest of national security, shall be considered eligible for insurance or reinsurance under chapter 539 of title 46, United States Code. (2) Owned by a citizen The term owned by a citizen means ownership by an entity that is considered to be a citizen of a country in the same manner as an entity is deemed to be a citizen of the United States under section 50501 of title 46, United States Code.