US lawmakers warn banks and ports over Russian diesel and demand they preserve records

Letters to banks and ports

A group of US lawmakers has warned the heads of major banks, port authorities and fuel distributors of the potential consequences of facilitating imports of Russian diesel. The letters were reported on 26 October by Axios and Ukrinform, and the Senate Foreign Relations Committee published their full text.

The initiative was led by Senator Jeanne Shaheen, the committee’s ranking Democrat. The letters were also signed by Senators Ron Wyden, Sheldon Whitehouse, Chris Coons, Elizabeth Warren and Republican Thom Tillis, as well as Representative Gregory Meeks.

They were addressed to JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley, and to the port authorities of Houston, Corpus Christi and Beaumont in Texas and of New York/New Jersey. Citing public reporting and vessel tracking data, the lawmakers say tankers carrying Russian diesel could reach Beaumont and New York/New Jersey as soon as the end of this month.

What they demand

The lawmakers demand that recipients preserve all records on any proposed or actual imports of Russian diesel: contracts, invoices, shipping documents, vessel and port-call records, customs paperwork and payments, as well as communications with suppliers, intermediaries and US officials from 1 September 2026. Written confirmation is requested by 28 October.

According to Axios, if Democrats win control of one or both chambers of Congress in the 3 November elections, investigating the deal will be a priority.

The legal argument

The letters say the 2022 Ending Importation of Russian Oil Act generally bans imports of Russian energy products, including diesel, unless the president, after consulting Congress, certifies that Russia has ceased hostilities in Ukraine, poses no immediate military threat to NATO members and recognises Ukrainians’ right to choose their government. The authors also cite CAATSA, which requires congressional review of licensing actions that significantly alter policy towards Russia.

Companies that buy Russian diesel or facilitate its import may face criminal and civil liability, the lawmakers warn. “Granting Moscow the ability to freely sell Russian diesel in global markets damages America’s security interests and is a betrayal of the people of Ukraine,” the letter says.

The authors stress that criminal penalties may apply not only to the importer of record but to any company that knowingly buys Russian diesel or facilitates its import, meaning banks financing deals and terminal operators too. They urge recipients not to take part in purchasing, transporting, unloading, storing, financing or distributing such fuel until the statutory requirements are met.

The administration’s view

According to Ukrinform, citing Axios, the US Treasury considers the arrangements between the two leaders lawful, while the White House accused Democrats of focusing on investigations against Trump.

Background

Trump announced the arrangement on 9 October, after which the Treasury issued General License 135. As Ukrinform reported, Russia, with US consent, is to immediately supply 300,000 tonnes of diesel to the global market and significantly increase exports later. UA.briefly has previously covered Europe’s reaction to the deal.

Why it matters for Ukraine

Energy export revenue is one of the main sources of funding for Russia’s war. Any easing of restrictions on Russian fuel sales effectively increases the Kremlin’s resources. Congress’s stance, including bipartisan backing from some Republicans, could therefore become an important safeguard for maintaining sanctions pressure.