Prohibition

(a) In general The President shall prohibit the exportation, reexportation, sale, or supply, directly or indirectly, from the United States, or by a United States person, wherever located, of petroleum equipment and services to any person located in the Russian Federation. (b) Liability of parent companies for violations of sanctions by foreign subsidiaries Except as provided in subsection (c), not later than 60 days after the date of the enactment of this Act, the President shall prohibit any entity owned or controlled by a United States person and established or maintained outside the United States from knowingly engaging directly or indirectly in any transaction described in subsection (a) that would be prohibited by an order or regulation issued pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) if the transaction were engaged in by a United States person or in the United States. (c) Exception The prohibitions in subsections (a) and (b) shall not apply with respect to petroleum equipment and services directly related to isotopes derived from petroleum manufacturing that are used for medical, agricultural, or environmental purposes, such as Carbon-13.