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Frank, Gutierrez Letter Calling on Secretary Rice to Deny Export-Import Bank Support of Russian Energy Company

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Location: Washington, DC

House Financial Services Committee Chairman Barney Frank (D-MA) and Financial Services Subcommittee on Domestic and International Monetary Policy Chairman Luis V. Gutierrez (D-IL), sent a letter to U.S. Secretary of State Condoleezza Rice expressing their concern about the potential U.S. Export-Import Bank's support for Sakhalin II, an energy project controlled by the Russian government. The members cited that "in recent years, the Russian government has, in this and other cases, established a pattern of using questionable legal tactics in order to exercise control of private entities in the energy sector." The chairmen, citing both government policy and national interest, asked that the Secretary of State to deny the Export-Import Bank's support for Sakhalin II.


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