On the recordNovember 8, 2023
I appreciate the sentiment, and I am with Mr. Hoyer on providing support for Ukraine, but the 8H license is actually the loophole. It is the exception to the sanctions. I give President Biden credit and Secretary Yellen credit and Wally Adeyemo credit for the sanctions on Russian banks and the Central Bank. The problem is the huge loophole they have created with the general license. What my amendment proposes to do--and I just came from a meeting with Deputy Treasury Secretary Adeyemo, a great patriot--but what we are trying to say is the price cap is not working; close the loophole, sanction Russian energy exports. I offer that as a bipartisan amendment.
