Donbass People's Militia Terrorist Designation Act of 2014 - Expresses the sense of Congress that the Donbass People's Militia (an armed militia with allegiance to the Donestsk People's Republic, a self-proclaimed state in Eastern Europe) has met the criteria for designation as a foreign terrorist organization, and the Secretary of State should so designate it.
Requires the Secretary to report to Congress the reasons why if he does not designate the Donbass People's Militia as a foreign terrorist organization within 60 days.
Directs the President to subject to sanctions any person in the United States or subject to U.S. jurisdiction who knowingly provides material support or resources to the Donbass People's Militia or its affiliates, associated groups, or agents.
Prohibits the Secretary from issuing any visa to, and directs the Secretary of Homeland Security (DHS) to deny U.S. entry to, any member or representative of the Donbass People's Militia or its affiliates, associated groups, or agents.
Authorizes the removal from the United States of any alien who is a member or representative of the Donbass People's Militia or its affiliates, associated groups, or agents in the same manner as an alien who is inadmissible under certain terrorist grounds.
Requires any U.S. financial institution that knowingly has possession of or control over funds in which the Donbass People's Militia or its affiliates, associated groups, or agents have an interest to: (1) retain possession of or control over the funds, and (2) report the funds to the Office of Foreign Assets Control of the Department of the Treasury.