Rosoboronexport Embargo Act of 2014 - Prohibits the head of an executive agency from entering into a contract, memorandum of understanding, or cooperative agreement with, or make a grant to, or provide a loan or loan agreement to Rosoboronexport (the state intermediary agency for Russia's exports/imports of defense-related and dual use products, technologies, and services).
Authorizes the President to: (1) waive such prohibition under specified circumstances, and (2) reprogram funds for a country that enters into any such arrangement with Rosoboronexport.
Prohibits any U.S. person (individual or corporation) from assisting Rosoboronexport through the provision of financing. Imposes a ban on dealing in government finance and restrictions on U.S. business operations on a person that engages in such activity.
Authorizes: (1) the President to waive the application of sanctions under specified circumstances, and (2) the Attorney General (DOJ) to bring an action in U.S. district court for injunctive and other relief with respect to such activities.
Imposes procurement and export sanctions on any U.S. person that transfers goods or technology, enters into contracts, or engages in trade with Rosoboronexport.
Directs the Secretary of Defense (DOD) to report to Congress regarding: (1) transfers of lethal military equipment by Rosoboronexport to separatist groups in Ukraine and to the government of Syria; and (2) contracts, memorandums of understanding, cooperative agreements, grants, and loans and loan guarantees between DOD and Rosoboronexport.