Wyden Questions Treasury Department Over Russia Sanctions Flip-Flop
Trump Administration Must Fully Enforce Sanctions on Russia for Invading Ukraine, Wyden says, After Top U.S. Officials Waffle Over Sanctioning Putin’s Government
Washington, D.C. – Senate Finance Committee Ranking Member Ron Wyden, D-Ore., asked Treasury Secretary Scott Bessent to fully enforce sanctions on Russia, and to confirm the Trump Administration’s commitment to follow the law and punish Russia for its unprovoked invasion of Ukraine, in a letter today.
The letter comes as Bessent, Secretary of State Marco Rubio and Donald Trump have offered conflicting statements about sanctioning Russia over recent months.
“The United States imposed sanctions on the Russian Federation in response to its war of aggression against Ukraine, which sought to deny Ukraine and its people their collective rights to independence, sovereignty, and territorial integrity,” Wyden wrote to Bessent. “I ask that you reaffirm your commitment to stringently enforce these sanctions and answer questions about how you envision other measures pursued by this administration, including agreements with Ukraine, potentially working in conjunction with these sanctions.”
During his confirmation hearing before the Senate Finance Committee, Bessent pledged to fully enforce Russia sanctions, calling the invasion of Ukraine, “one of the greatest tragedies of my adult life,” and said he would be “100 percent on board with taking sanctions up—especially on the Russian oil majors—to levels that would bring the Russian Federation to the table,” if Trump agreed.
But in March, Bessent said he would be open to allowing Russia to rejoin the international banking system and otherwise relaxing economic restrictions on Vladimir Putin’s nation.
Wyden requested Bessent answer the following questions about Russia sanctions and the U.S.-Ukraine Reconstruction Investment Fund Agreement:
1) What actions has Treasury taken with our allies to ensure that existing sanctions against Russia are being effectively coordinated and enforced?
2) Do you believe that further sanctions on Russia, including additional sanctions that target Russian oil majors, are warranted to pressure Russia to end its war of aggression against Ukraine?
3) How will the Fund Agreement serve as a “security shield” for Ukraine?
4) Do you believe that the Fund Agreement is sufficient to prevent Russia from once again invading Ukraine in the near and long term?
5) How will Treasury ensure that no state or person who financed or supplied Russia’s illegal war on Ukraine will benefit from the investments contemplated under the Fund Agreement?
6) Will you continue Treasury’s implementation of commitments made by G7 leaders to curtail Russia’s use of the international financial system to support its war against Ukraine?
7) Would Treasury allow Russian banks to rejoin SWIFT absent a comprehensive peace agreement with Ukraine that fully addresses Russia’s unprovoked invasion of Ukraine?
The text of the letter is here.
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