Rep. Axne Backs Additional Penalties for Russian Aggression and Support for Ukraine

Statement

Last week, Rep. Cindy Axne (IA03) voted to advance several pieces of legislation to support Ukraine, penalize Russia on the world stage and sanction Russian leaders out of the Financial Services Committee.

The legislation will help ensure Ukraine has the resources it needs to continue defending itself from unprovoked attacks by Russia and continue to cut off Russia and its leaders from any assets within the U.S.

"The people of Ukraine need to know the U.S. has their backs as they continue to push back against unprovoked attacks by Russia," said Rep. Axne. "We also need to make sure we are doing everything we can to cut off any assets Russia and its leaders have in the U.S. and to send a strong message that they need to end this war. These bills continue our work to support Ukraine and penalize Russian leaders for their actions."

The bills that Rep. Axne voted for in the Financial Services Committee include:

The Russia and Belarus Financial Sanctions Act clearly applies sanctions on Russia and Belarus to actions by foreign subsidiaries of U.S. financial institutions.

The Ukraine Comprehensive Debt Payment Relief Act would provide financial relief to Ukraine by supporting suspending debt service payments for Ukraine internationally. In 2022 alone, Ukraine is projected to owe $4.6 billion in payments on its existing debt.

The Nowhere to Hide Oligarchs' Assets Act would expand the ability of the Financial Crimes Enforcement Network (FinCEN) to identify Russian oligarchs' and other illicit assets within the U.S., especially in real estate.

The Isolate Russian Government Officials Act would restrict Russian officials' ability to participate in international groups like the G-20, and hurt Russia's standing on the world stage.

The Russia and Belarus SDR Exchange Prohibition Act would restrict Russia's and Belarus' ability to use economic support they've received through the International Monetary Fund.

Rep. Axne has also voted to restrict trading with Russia and Belarus, ban energy imports from Russia and send $13 billion to Ukraine for humanitarian, military and economic support.

Source