Crapo: Congress Should Act Quickly on Bipartisan Legislation to Suspend Trade Relations with Russia

Washington, D.C.--Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) issued the following statement regarding President Biden’s request for Congress to vote to suspend permanent normal trade relations (PNTR) with Russia. 

“The President’s announcement today makes it clear that the Senate needs to immediately pass strong legislation that bans Russian energy imports, revokes favorable trade relations with Russia and Belarus, and provides the Administration with authority to raise tariffs on the other nearly half of imports that Russia sells to the United States.  The ban must continue until Russia ceases its aggression, stops threatening our NATO allies and partners, and recognizes a free and independent Ukraine, including with respect to the ability of its people to choose their own government.  Senator Wyden (D-Oregon) and I introduced legislation (S. 3786) that carries out these objectives, and reflects an agreement reached by the top Senate Finance Committee and House Ways and Means Committee leaders earlier this week.  Congress should work quickly to pass this legislation.”   

Earlier this week, Ranking Member Crapo and Senate Finance Committee Chairman Ron Wyden (D-Oregon), introduced legislation (S.3786) reflecting a bipartisan, bicameral agreement to ban the import of energy products from Russia, and to suspend normal trade relations with both Russia and Belarus.