Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, released the following statement in response to the Russian invasion of Ukraine:

“I join with President Biden and our allies in condemning Russia’s invasion of Ukraine and stand in solidarity with the people of Ukraine. The Biden Administration’s latest sanctions and other strict measures in response to Russia’s unprovoked invasion and violation of international law make it very clear that the U.S. is prepared to use the comprehensive array of economic tools at our disposal. The sanctions, in particular, will impose a harsh, significant cost to Russia and its financial system for attacking Ukraine. These sanctions will be effective in damaging Russia’s banking and trading options, isolating the Kremlin from the global financial system, and putting intense pressure on the Russian economy.

“In 2016, Putin tried to undermine free and fair elections here in the U.S.– actions that led me and many other Members in Congress to demand Putin and his enablers be held accountable, including through the imposition of sanctions on Russia’s sovereign debt. Putin’s most recent move is yet another sign that he will stop at nothing to quash democracy and security.

“The Russian people have a rich culture and proud history, but Putin’s actions are turning their nation into a pariah state, where the country, its economy, and its leaders will be cut off from the international financial system and from global markets and investments. No bank, no sector, and no oligarch will be able to hide or outlast this forceful allied response to Russian aggression.”

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On February 1, 2017, Congresswoman Waters, Ranking Member of the Committee on Financial Services, spoke strongly against H.J. Res. 41, a Congressional Review Act resolution designed to roll back important anti-corruption rules.

On April 17, 2017, Congresswoman Waters released a statement on reports that ExxonMobil applied for a waiver from U.S. sanctions on Russia.

On May 23, 2017, Congresswoman Waters sent a letter sent a letter to Treasury Secretary Steven Mnuchin requesting that the Department’s Financial Crimes Enforcement Network (FinCEN) provide any records to the Committee that detail President Trump’s financial ties to Russia, as well as those of his family members and associates.

On May 24, 2017, Congresswoman Waters and other Committee Democrats requested information from Deutsche Bank on a Russia money laundering scheme and Trump accounts.

On July 14, 2017, Committee Democrats introduced a resolution of inquiry to follow the Trump money trail, and to investigate any financial dealings between the President and his associates and Russia, and to uncover any evidence of illicit activity that may have compromised the President and this country.

On November 30, 2017, the Committee on Financial Services held a hearing entitled, “Evaluating the Effectiveness of U.S. Sanctions Programs.”

On January 8, 2018, Congresswoman Waters gave a statement at a press conference highlighting House Republicans’ refusal to address Russia’s threat to our democracy and national security.

On January 31, 2018, Congresswoman Waters sent a letter to Treasury Secretary Steven Mnuchin and Secretary of State Rex Tillerson, demanding answers as to why no action had been taken to hold Russia accountable.

On February 7, 2018, Congresswoman Waters pressed Treasury Secretary Steven Mnuchin on the Trump Administration’s inaction on the Russia sanctions, which passed with broad bipartisan support by Congress in 2017 to punish Russia for interfering in our democracy.

On September 26, 2018, the Committee on Financial Services held a hearing entitled, “Administration Goals for Major Sanctions Programs.”

On January 8, 2019, Chairwoman Waters and six Committee Chairs of the House of Representatives called on the Trump Administration to explain the easing of sanctions on businesses tied to Russian oligarch Oleg Deripaska.

On January 16, 2019, Chairwoman Waters outlined an agenda in her first policy speech as Chairwoman of the House Committee on Financial Services. Chairwoman Waters urged sanctions against Russia for its actions.

On January 14, 2019, Chairwoman Waters released a statement on the U.S. Treasury Department’s decision to remove sanctions on the three Russian companies connected to Russian oligarch Oleg Deripaska.

On January 17, 2019, Chairwoman Waters released a statement applauding House passage of H.J. Res. 30, a Resolution of Disapproval to reverse the U.S. Department of the Treasury’s decision to lift sanctions on companies owned by Russian oligarch Oleg Deripaska.

On January 29, 2019, Chairwoman Waters; Congressman Adam Schiff (D-CA), Chairman of the Permanent Select Committee on Intelligence; and Congressman Eliot L. Engel (D-NY), former Chairman of the Committee on Foreign Affairs, sent a letter to former Treasury Secretary Steven Mnuchin, requesting all documents and records pertaining to the Treasury Department’s decision to ease sanctions on businesses tied to Russian oligarch Oleg Deripaska.

On April 9, 2019, the Committee on Financial Services held a hearing entitled, “The Annual Testimony of the Secretary of the Treasury on the State of the International Financial System.” Chairwoman Waters in her opening statement called for answers on the Treasury Department’s actions to delist companies associated with Russian oligarch Oleg Deripaska.

On May 6, 2019, Chairwoman Waters and Congressman Eliot L. Engel (D-NY), former Chairman of the House Committee on Foreign Affairs, took the Trump Administration to task for its failure to produce a report that is now four months past a statutory deadline detailing actions to crack down on human-rights abusers in Russia . In a letter to former Secretary of State Mike Pompeo and former Treasury Secretary Steven Mnuchin, the lawmakers demanded that the administration comply with the Russia Magnitsky Act, including the provision requiring an annual report to Congress detailing actions taken under the law to sanction Russian officials for human rights violations.

On May 15, 2019, the Committee on Financial Services held a hearing entitled, “Assessing the Use of Sanctions in Addressing National Security and Foreign Policy Challenges.”

On July 12, 2019, Chairwoman Waters and Congressman Brad Sherman introduced the Waters and Sherman Amendment to NDAA Sanctioning Russia for 2018 Election Interference, which passed the House.

On March 14, 2019, Chairwoman Waters offered H. Res. 206, a resolution she introduced to shed light on money laundering and terrorism finance, on the House floor. The resolution was passed by a voice vote.

On April 16, 2021, Chairwoman Waters released a statement applauding the Biden Administration’s new Russia sanctions.

On June 16, 2021, the Committee on Financial Services held a hearing entitled, “Schemes and Subversion: How Bad Actors and Foreign Governments Undermine and Evade Sanctions Regimes.”

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