Sinema Backs Increased Financial Punishments Against Russia

Apr 7, 2022

Today, the Senate approved banning Russian oil and gas imports to the U.S. and stripping Russia of its preferred trade status

WASHINGTON – Arizona senior Senator Kyrsten Sinema applauded the Senate’s action banning Russian oil and gas imports to the U.S and stripping Russia of its preferred trade status, which places increased tariffs on imported Russian goods. 
“Today’s bipartisan Congressional action sends a clear message that the American people will not subsidize Putin’s illegal and unprovoked war. As Russia’s attacks continue on a free and democratic Ukraine, we must keep providing military and humanitarian support to Ukrainians, increase financial punishments on Putin and his regime, and boost our cyber defense against Russian threats. I stand ready to support policies that keep America safe, promote our country’s and our allies’ long-term security, and ensure our servicemembers’ safety,” said Sinema.
Earlier this week, the Senate passed the Sinema-backed Ukraine Democracy Defense Lend-Lease Act of 2022, led by Senator Cornyn (R-TX). This legislation increases the Administration’s capability to more quickly transfer military equipment to Ukraine, ensuring they have the tools to defend themselves. 
Sinema is also an original cosponsor of a Resolution honoring the women of Ukraine who have contributed to the fight for freedom.
Sinema has helped secure critical resources supporting Ukraine including:

  • Additional funding for the U.S. Department of Justice’s Ukraine Task Force in addressing cybercrime threats and ransomware cases, and to trade and seize the proceeds of crime including cryptocurrency.
  • $46.3 million for the Federal Bureau of Investigation for investigative and operational response to cyber threats; counterintelligence activities; cryptocurrency activities; and investigative support, including the establishment of a second Kleptocracy Asset Recovery Initiative (KARI) Team to focus on violations of Russian sanctions.
  • $19 million for the Financial Crimes Enforcement Network (FinCEN) to support development, coordination, implementation, and enforcement of targeted financial measures.

As a member of the Senate Banking Committee, Sinema has also secured and additional $161 million for FinCEN and $195 million for the Office of Terrorism and Financial Intelligence, modernizing outdated IT infrastructure and boosting staffing to increase sanctions enforcement against the Russian Federation and others.
In the Ukraine Supplemental legislation recently passed into law, Sinema also helped advance emergency food assistance, health care, and other urgent support through the USAID International Disaster Assistance program; funding for the European Command operations mission, personnel, and intelligence support; key economic assistance to respond to energy and cybersecurity needs; and an increase to the President’s current authority to transfer defense equipment to Ukraine and other allies.