Warren Statement on Reporting on EXIM’s Backing Off Investments in Kazakh Mining Project Backed by Trump Sons

Warren Statement on Reporting on EXIM's Backing Off Investments in Kazakh Mining Project Backed by Trump Sons

Washington, D.C. - Today, U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, released the following statement on reports that US government lenders, including the Export-Import Bank (EXIM), are planning to deny $1.6 billion in financing for a Kazakh mining project in which President Donald Trump's sons are investors:

"This reporting, coupled with EXIM's troubling lack of transparency, raises serious questions as Republican and Democratic members of the Banking Committee work to reauthorize the Bank's charter. EXIM's leadership has failed to establish clear safeguards to ensure the Bank never becomes another vehicle for corruption benefiting President Trump and his family. It's time for Congress to act to ensure the bank serves our businesses and our economy, not the Trump family's bottom line."

Ranking Member Warren has repeatedly pressed EXIM leadership for answers about potential corruption, conflicts of interest, and the misuse of taxpayer funds. Warren has warned that Congress must ensure strong safeguards against corruption and conflicts of interest as lawmakers work to reauthorize the Bank's charter.

• In June, Warren pressed EXIM President and Chairman John Jovanovic to provide complete responses to questions about the Bank's ethics safeguards, including whether Trump family-linked entities had sought or received EXIM financing.
• In July, Warren probed EXIM and other federal agencies over reports that a Trump family-backed Kazakhstan mining venture was seeking nearly $2 billion in federal assistance, including up to $900 million from EXIM.

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