Kirk Calls for Additional Pressure on Russia
Sector-Wide Sanctions Would Further Squeeze Russian Economy
Advanced Missile That Took Down MH17 Was Launched from Pro-Russian Rebel Territory
CHICAGO, IL - U.S. Senator Mark Kirk (R-Ill.) called for the Administration to impose hard-hitting, sector-wide sanctions against the Russian energy and financial sectors following the attack of Malaysian Airlines Flight 17 yesterday over Eastern Ukraine. 298 individuals, including at least one U.S. citizen, lost their lives and pro-Russian separatists are believed to have perpetrated the attack using an advanced, surface-to-air Russian missile system.
Tougher sanctions must be implemented if Russia continues to coordinate with separatists in Ukraine and refuse a ceasefire. Senator Kirk spoke with CNN anchor John Berman this morning regarding the tragedy:
Background:
- Senator Kirk and 37 GOP Senators sent a letter to President Obama on March 26, 2014, requesting that any plans to share sensitive missile and defense information be canceled immediately, which can be read here.
- Russia, like Iran, is a petrostate heavily dependent on energy revenues to prop up its economy.
- In 2012, 52% of Russia’s budget was represented by oil and gas revenues.
- On May 14, 2014, Senator Kirk penned an op-ed in the Chicago Sun-Times calling for more aggressive sanctions against the Russian government, similar to sanctions in place against the Iranian regime.
- As part of the Russian Aggression Prevention Act, S. 2277, which Senator Kirk cosponsored, Republicans already outlined the next steps, which should include:
- Cut all senior Russian officials, their companies, and their supporters off from the world’s financial system.
- Target any Russian entities owned by the Russian government or sanctioned individuals across the arms, defense, energy, financial services, metals, or mining sectors in Russia.
- Ban Russian banks from the U.S. banking system.
