; or (2) an entity organized under the laws of the United States or of any jurisdiction within the United States, including a foreign branch of such an entity. C Punishing Continued Occupation of Ukraine Act 321. Short title This subtitle may be cited as the Punishing Continued Occupation of Ukraine Act . 322. Findings Congress finds the following: (1) On February 27, 2014, the Russian Federation unlawfully invaded Ukraine’s Crimea region and shortly thereafter intervened and occupied parts of Ukraine. (2) Russia continues to flout the Minsk Agreement and subsequent clarifications to address the ongoing conflict in eastern Ukraine, signed in Minsk, Belarus, on February 11, 2015, by the leaders of Ukraine, Russia, France, and Germany, and the Minsk Protocol, which was agreed to on September 5, 2014, by directly and indirectly commanding separatist forces in Ukraine. (3) Sanctions to date have failed to alter Russian President Vladimir Putin’s calculation regarding Crimea and eastern Ukraine. (4) Russia relies on sovereign debt to finance the government. If denied access to these funds, Russia would be forced to cut spending, increase taxes, draw down its foreign exchange reserves, or seek alternative sources of financing, increasing the economic pressures facing the economy. 323. Prohibition against United States recognition of Russia’s annexation of Crimea (a) Statement of policy It is the policy of the United States not to recognize the de jure or de facto sovereignty of the Russian Federation over Crimea, its airspace, or its territorial waters. (b) Prohibition In accordance with subsection (a), no Federal department or agency may take any action or extend any assistance that recognizes or implies recognition of the de jure or de facto sovereignty of the Russian Federation over Crimea, its airspace, or its territorial waters. (c) Waiver The President may waive the prohibition under subsection (a) or (b) if the President determines that it is vital to the national security interests of the United States to do