The US Senate will consider a resolution on Tuesday afternoon to block the Trump administration's decision to lift sanctions on Russian companies Rusal, En+, and Eurosibenergo, Senate Minority Leader Chuck Schumer said
WASHINGTON (Pakistan Point News / Sputnik - 15th January, 2019) The US Senate will consider a resolution on Tuesday afternoon to block the Trump administration's decision to lift sanctions on Russian companies Rusal, En+, and Eurosibenergo, Senate Minority Leader Chuck Schumer said."Later this afternoon, the Senate will move to consideration a motion to proceed to a resolution of disapproval on the Treasury Department's proposal to relax sanction on three companies owned and controlled by Russian oligarch Oleg Deripaska," Schumer said on Tuesday morning.
On December 19, the US Treasury Department announced that it intended to exclude En+, Rusal, and Eurosibenergo, all controlled by Deripaska, from the sanctions list in 30 days, since the businessman would reduce his stakes in them. Deripaska himself will remain on the list, and his assets will remain sanctioned.
Schumer said that the Treasury Department's proposal fails to sufficiently limit Deripaska's stake in the three companies as it would merely reduce his ownership to 45 percent.
The Senate minority leader also noted Deripaska's alleged relationship with Russian President Vladimir Putin as a cause for concern. He called it "deeply suspect" that the Trump administration would propose sanctions relief for Deripaska's companies before Special Counsel Robert Mueller finished his work.
"Why is the Trump administration proposing sanctions relief when President Putin has not made any move to curtail or constrain his malign activities around the globe?" Schumer asked.
In early April, the United States introduced new sanctions against Russia, in particular, adding Deripaska and the En+ Group, GAZ Group, Basic Element and Rusal to the specially designated list. The entities added to the list have their assets in the United States blocked, and US citizens are banned from any business with these companies.
The US Treasury initially gave a month to sell the shares and debt instruments of these companies and two months to complete existing contracts and cease engagement with them - the restrictions were to come into effect on May 7 and June 5, respectively. Then, the deadlines were repeatedly extended.
