US Must Reimpose Sanctions On Russian Companies If They Fail To Comply - Senator

WASHINGTON (UrduPoint News / Sputnik - 17th January, 2019) US Congress must regularly report on the three Russian companies being waived from sanctions and reimpose the measures if the parties fail to comply, US Senator Sherrod Brown said in a press release.

Earlier on Wednesday, the US Senate failed to advance a resolution to block the US Treasury Department from lifting sanctions on three Russian companies: En+, Rusal and Eurosibenergo.

"If Treasury now moves to implement it, I will insist on regular reporting to Congress on its enforcement," Brown said on Wednesday. "If any of the parties fail to comply, the administration must snap back sanctions."

The Treasury announced the plan on December 19, saying it would roll back sanctions on EN+, Rusal and JSC Eurosibenergo after the three firms agreed to sweeping structural changes that will reduce the ownership of Russian businessman Oleg Deripaska and improve transparency.

Deripaska himself will remain on the US sanctions list, and his assets will remain sanctioned, and other sanctions on Russia will remain in place, the Treasury has said.

The legislation, penned by Democratic Minority Leader Chuck Schumer, aimed to prevent the Treasury Department from moving ahead with its plan to lift sanctions on the three Russian firms.

Brown said the Treasury's decision will allow Deripaska to serve a key role on decisions made by the Kremlin. He added that the move will also allow Deripaska to profit financially.

If both houses of Congress cannot pass a measure to block the decision, the Treasury Department will be able to move ahead with its plan to lift the sanctions.