Thompson Votes to Pass Bill to Further Isolate Russia from the Global Economy

Press Release

Posted: March 12, 2022

Washington – Today, Rep. Mike Thompson (CA-05) voted to pass the bipartisan, bicameral Suspending Energy Imports from Russia Act to further isolate Russia from the global economy by banning the importation of Russian energy products, seeking to suspend Russia from the World Trade Organization, and reauthorizing the Magnitsky Act to allow the U.S. government to sanction human rights offenders, freeze their assets, and ban them entering the country.

“As Vladimir Putin continues to wage an illegal invasion against Ukraine, we must take every step we can to shutter the Russian economy and cut off Russia from the global economy,” said Thompson. “I am proud to cosponsor the Suspending Energy Imports from Russia Act to ensure the United States is not providing economic resources to Russia or their puppet governments as they attack the people of Ukraine while we safeguard our national energy security. Congress must take swift action to isolate Russia from our economy while we address rising gas prices for families across the country.”

Specifically, the Suspending Energy Imports from Russia Act:

  • Bans the import of Russian oil and energy products into the United States. This will cut off a major source of revenue for Putin. Separately, as we work to diminish the Russian economy, we remain laser-focused on bringing down energy costs for American families and our partners.
  • Takes steps to review Russia’s access to the World Trade Organization and explore how we can further diminish Russia in the global economy.
  • Reauthorizes and strengthens the Global Magnitsky Human Rights Accountability Act so that the United States can impose further sanctions on Russia. In 2012, the Congress took bipartisan action with the Magnitsky Act to impose sanctions on human rights abusers in Russia, while also normalizing trade relations. This standard was expanded in 2016 to apply globally: broadening the human rights abuses that can be punished with sanctions and bolstering coordination with our partners. Our new bill extends Global Magnitsky so that the United States can continue to punish Russia for its heinous attacks on Ukrainian civilians and its violation of Ukraine’s sovereignty and territorial integrity.