Senate Republicans Introduce Russia Sanctions Bill
More than 30 Senate Republicans introduced a bill Feb. 15 that would impose new sanctions against Russia and expedite certain U.S. arms sales as President Vladimir Putin threatens to invade Ukraine. The bill, titled the Never Yielding Europe’s Territory Act, would mandate post-invasion sanctions against the Russian-backed Nord Stream 2 pipeline and various Russian government officials, military leaders, oligarchs and banks. The bill would also impose sanctions on members of Putin’s inner circle regardless of whether an invasion occurs.
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Sen. Jim Risch of Idaho, the top Republican on the Senate Foreign Relations Committee and the bill’s lead sponsor, introduced the legislation after negotiations stalled on a bipartisan bill that would have also imposed pre- and post-invasion sanctions against Russia. Both Risch and Sen. Bob Menendez of New Jersey, the committee's top Democrat, said last week that negotiations on the sanctions package were almost complete but that they were running out of time (see 2202080048).
“Rather than simply restating authorities the president already has, the NYET Act takes immediate action to permanently stop Nord Stream 2, sends a powerful deterrent message, imposes heavy economic and military costs on Russia, strengthens U.S. allies and partners, and supports Ukraine via new authorities, funds, and tools,” Risch said.
Menendez called the Republican-backed bill a partisan move that undermines negotiations. "It’s a shame that Senate Republicans have decided to choose partisan posturing instead of working to reach consensus on a comprehensive bipartisan proposal that would demonstrate a united front to deter Putin from re-invading Ukraine," Menendez said. He added that the bill is "largely a reflection of what Democrats had already agreed to" during negotiations. "There is still hope for a diplomatic breakthrough," Menendez said, "and there is still time to reach bipartisan agreement so the U.S. Congress can help impose the swiftest and harshest of responses for any unprovoked, unjustified actions by Russia."
The Republican-backed bill includes a host of sanctions aimed at Russia's financial sector, including post-invasion sanctions against Promsvyazbank, VTB Bank, Sberbank, Gazprombank and other major Russian banks. People and companies that knowingly transact with those banks could also face sanctions, as would those contributing to Russia’s “destabilization” or “malicious cyber activities” against Ukraine.
Another provision would mandate post-invasion sanctions against Russia’s extractive industries, including its oil, metals and mineral sectors. The bill’s broad language would authorize President Joe Biden to sanction “any other sector or industry” in Russia if the president deems it in the interest of U.S. national security.
Another measure would allow the president to bypass certain congressional reviews for defense exports to more quickly approve certain Ukraine-related license applications. The expedited reviews would apply to both items and defense services involving weapons, munitions, machinery and other defense-related articles.
House Republicans said they planned to introduce a similar bill to unleash “devastating consequences” against Russia if it invades Ukraine.