(Bloomberg) -- The House approved a symbolic effort to force the Trump administration to keep sanctions on three companies linked to a close ally of Russian President Vladimir Putin.
The 362-53 bipartisan vote Thursday on the Democratic resolution came only after a similar measure failed in the Senate. That resolution introduced by Senate Minority Leader Chuck Schumer fell short of the 60 votes needed to advance, despite getting support from 11 Republicans. Thursday is the deadline for both houses to pass such a measure.
As a result, the Treasury Department will be able to move forward with its plan announced Dec. 19 to lift sanctions against three companies controlled by Russian oligarch Oleg Deripaska -- United Co. Rusal, En+ Group Plc and EuroSibEnergo JSC.
House Majority Leader Steny Hoyer, who introduced his chamber’s resolution to disapprove the Treasury action, has said "serious questions" remain about the move to relax sanctions on the companies owned by Deripaska, who has ties to Putin and is a client of former Trump campaign manager Paul Manafort.
The Treasury plan would keep intact earlier U.S. sanctions against Deripaska himself, but would remove financial restrictions on the three companies following an agreement to reduce Deripaska’s ownership stake to about 45 percent of each company. Aluminum producer Rusal is among the largest companies the U.S. has ever put on its sanctions designation list, and the action caused its shares to plummet.
Democrats are questioning the administration’s motives at a time when Special Counsel Robert Mueller is continuing his investigation of Russian interference in the 2016 presidential election and possible connections to Trump’s campaign.
--With assistance from Laura Litvan.
To contact the reporter on this story: Daniel Flatley in Washington at dflatley1@bloomberg.net
To contact the editors responsible for this story: Joe Sobczyk at jsobczyk@bloomberg.net, Laurie Asséo, Justin Blum
©2019 Bloomberg L.P.
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