The “Ban on Corrupt Oil Deals with Russia” bill has been introduced in the U.S. Congress, targeting the revocation of general licenses issued by the Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department. This legislation aims to prohibit future licenses as well.
Additionally, the bill restricts the U.S. International Development Finance Corporation (DFC) from investing in the Russian energy sector and mandates that the Trump administration implement sanctions against this industry.
Representative Miks, the leading Democrat on the Foreign Affairs Committee, criticized the diesel agreement, asserting that it would not lower costs for American citizens.
“It will provide Putin with millions of dollars to continue killing Ukrainian civilians without repercussions,” he stated, further accusing Trump of aligning with Putin for personal gain.
Miks urged his colleagues to support the bill, listing 17 co-sponsors including Don Bacon, Ted Lieu, Sarah McBride, and Debbie Wasserman Schultz.
Context
- On October 9, Trump held a phone call with Putin, following which he announced an agreement for the supply of Russian diesel to the U.S. and global markets. The temporary general license from OFAC is valid until April 7, 2027.
- Ukrainian President Volodymyr Zelensky criticized this deal, after which Trump remarked that “it’s time for Ukraine to get a new president” and that the country needs a “new leader capable of negotiating.”
