Blocking Sanctions Relief for Companies Linked to a Russian Oligarch (H. Joint Res. 30)

What is H. Joint Res. 30?

(Updated April 6, 2019)

This bill would disapprove of the Treasury Dept.’s December 19, 2018, decision to relax sanctions on three Russian companies connected to Russian oligarch Oleg Deripaska: EN+ Plc, JSC EuroSibEnergo, and United Co. Rusal Plc. Deripaska is allegedly under investigtion by Special Counsel Robert Mueller, and the Treasury Dept.’s decision wouldn’t affect the existing sanctions against Deripaska as an individual.

Under the Countering America’s Adversaries Through Sanctions Act of 2017, Congress is able to consider a privileged resolution disapproving of sanctions relief announced by the administration. Given when the Treasury Dept. announced the sanctions relief, Congress has until January 17, 2019, to pass the resolution.

s a joint resolution, this bill would need to pass both chambers of Congress and be signed into law by the president. It could also become law after a presidential veto if both chambers of Congress approve the resolution by a two-thirds margin.

Argument in favor

This bill would wisely reverse the Trump administration’s flawed decision to offer sanctions relief to three companies connected to a Russian oligarch named Oleg Deripaska, who is linked to Paul Manafort and is under investigation by Special Counsel Robert Mueller.

Argument opposed

The Treasury Department’s decision to lift sanctions on the three companies connected to Oleg Deripaska didn’t change the fact that he is personally sanctioned and will continue to be. This bill is an attempt to show non-existent impropriety.

Impact

EN+ Plc, JSC EuroSibEnergo, and United Co. Rusal Plc; and the Treasury Department.

Cost of H. Joint Res. 30

A CBO cost estimate is unavailable.

Additional Info

In-Depth: House Majority Leader Steny Hoyer (D-MD) introduced this bill to reverse the Treasury Dept.’s sanctions on companies related to Russian Oligarch Oleg Deripaska:

“Today, I am introducing a resolution to prevent the Treasury Department from lifting sanctions on businesses controlled by Oleg Deripaska, a Russian oligarch who has been sanctioned for his close relationship to President Putin and activities aimed at harming the interests of the United States.  While I understand the Treasury Department’s efforts to reduce Mr. Deripaska’s ownership stake in Rusal, thereby calming the global aluminum market, numerous serious questions remain regarding this settlement. Secretary Mnuchin’s briefing last week raised more questions than it answered, and, notwithstanding the good faith efforts of individual Treasury officials, I cannot help but view this action in the context of the Trump Administration’s repeated deference to Russia.

It is imperative that Congress has the opportunity to vet in full any settlement regarding Mr. Deripaska, including whether the proposed settlement sufficiently restricts Mr. Deripaska’s control of key companies.  Mr. Deripaska has been key to much of the malign activities Russia directs against the United States, and the Congress must protect the American people against foreign interference and corruption.”

The Trump administration opposes this bill, and Treasury Secretary Steve Mnuchin briefed lawmakers in both chambers of Congress to explain the sanctions relief.

In the Senate, this bill’s companion fell short of the 60-vote threshold required to limit debate in a 57-42 vote, in which 11 Republicans joined all present Democrats in voting for the bill.

Media:

• House Majority Leader Steny Hoyer (D-MD) Press Release
  
• Countable (Context)