Wyden outlines Finance Committee’s next steps to hold Russia accountable for Ukraine invasion

WASHINGTON (KTVZ) — Senate Finance Committee Chair Ron Wyden, D-Ore., released the following statement Tuesday on the next steps to hold Russia accountable for its invasion of Ukraine:

“The key to holding Vladimir Putin accountable for his unprovoked invasion of Ukraine is following the money, and rooting out billions in illicit assets stashed around the world by Putin and his cronies.

“As chair of the Senate Finance Committee I’ve had a long-time interest in illicit finance and sanctions policy, and I’m going to push for every possible economic tool to make Putin pay for his actions. While the Treasury Department has done a remarkable job to implement tough sanctions, there are several key areas Congress needs to address and should support. 

  • First, the IRS Criminal Investigations Unit has been starved of resources. This unit plays a critical role in going after illicit Russian assets, and Congress needs to give these experts the resources they need for these highly complex investigations. The committee is also taking a hard look at loopholes and preferences in our tax system that allow Putin’s oligarchs to hide assets and avoid taxes on the assets they’ve stashed in the United States. 
  • Second, we need to make sure tariff treatment of Russia reflects its pariah status. Permanent normal trade relations are extended to countries as they join the World Trade Organization (WTO) and agree to abide by…

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