Senators Elizabeth Warren, Jeanne Shaheen and Chuck Schumer issued a statement urging the Trump Administration to allow the U.S. Department of the Treasury’s General License 134 to expire and not be renewed. They argued the licence removed sanctions risk for any person purchasing Russian oil loaded on vessels as of 12 March 2026 and amounted to sanctions relief that benefits Russia. The senators cited estimates that Russia and its enablers were making an additional USD 150 million per day, or more than USD 4 billion to date, and argued Treasury’s action helped the Kremlin and its evasion network increase profits despite what they described as a prolonged failure to impose counter-evasion sanctions. The statement questioned whether the licence provided relief for U.S. consumers or the global energy crisis, referenced continued Russian strikes on Ukraine, and pointed to a sanctioned Russian official seeking renewal as evidence of the benefit to Russia. It also asserted Treasury did not meet notification requirements to Congress under the Countering America’s Adversaries Through Sanctions Act and noted that, despite Treasury Secretary Bessent describing the measure as temporary and not financially significant for Russia, Russia’s cancellation of planned budget cuts indicated direct benefit.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-04-10
U.S. Senate Committee on Banking, Housing and Urban Affairs Democrats urge Trump Administration not to renew Treasury General License 134 on Russian oil
Senators Elizabeth Warren, Jeanne Shaheen and Chuck Schumer urged the Trump Administration to let the U.S. Treasury’s General License 134, which they say removes sanctions risk for buyers of certain Russian oil, expire without renewal. They argued the licence constitutes sanctions relief that has generated billions of USD in additional revenue for Russia, questioned its benefits for U.S. consumers or energy markets, and alleged Treasury failed to meet congressional notification requirements under the Countering America’s Adversaries Through Sanctions Act.