Senate Democratic Leaders Release Joint Statement on Trump Administration's Weakening of Sanctions on Russian Oil in Attempt to Dampen Economic Impacts of Trump's Iran War

Senate Democratic Leaders Release Joint Statement on Trump Administration's Weakening of Sanctions on Russian Oil in Attempt to Dampen Economic Impacts of Trump's Iran War

Washington, DC - Senators Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, Jeanne Shaheen (D-NH), Ranking Member of the Senate Foreign Relations Committee, Senate Democratic Leader Chuck Schumer (D-NY), Jack Reed (D-RI), Ranking Member of Senate Armed Services Committee, Ron Wyden (D-OR), Ranking Member of the Senate Finance Committee, Sheldon Whitehouse (D-RI), Ranking Member of the Senate Environment and Public Works Committee, Chris Coons (D-DE), Richard Blumenthal (D-CT), Michael Bennet (D-CT), Chris Van Hollen (D-MD), Andy Kim (D-NJ), and Ruben Gallego (D-AZ) issued the following statement in response to President Trump's rushed decision to issue licenses that weaken sanctions on the purchase of Russian oil as his war on Iran raises prices for key commodities:

"The President launched a reckless and poorly conceived war against Iran that has put U.S. servicemembers, diplomats, and citizens in danger. This war has resulted in huge spikes in gas prices for Americans, who are now paying more at the pump than at any point in either of President Trump's two terms-only compounding the affordability crisis our country is facing. In turn, this self-made global energy shock is serving to enrich Putin and line his war coffers by offering him windfall profits. Instead of changing course, the President is only making this situation worse by handing Putin, his shadow fleet, and traders still dealing in sanctioned oil a free pass to increase oil shipments to Russia's second-largest importer. The new channels for evasion the President is opening, coupled with dramatically higher global energy prices, are giving Putin a huge financial boost and the means to continue his bloody war in Ukraine."

"The President's decision is particularly galling in light of public reporting that Russia is assisting Iran in targeting Americans in the Middle East. Sadly, this is the inevitable outcome of President Trump pushing America into a conflict with no apparent strategy and no endgame. Now is not the time to clear the way for sales for Russian oil majors and Russian-owned and shadow fleet vessels."

"The Trump Administration issued a sweeping general license that eases sanctions against Russian oil companies and the shadow fleet. This move flies in the face of a requirement under the Countering America's Adversaries Through Sanctions Act, passed overwhelmingly by the Senate, to notify Congress 30 days before taking such an action. The Administration is nevertheless allowing these entities-and even vessels sanctioned for links to Iran's Islamic Revolutionary Guard Corps-to sell and transport the commodity Russia depends on most to finance its aggression."

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