SANCTION PUTIN, NOT AMERICAN COMPANIES

The Issue: The U.S. Senate Foreign Relations Committee in late 2019 approved legislation that would impose new sanctions on Russia. Known as the Defending American Security from Kremlin Aggression Act, or DASKA, the measure targets Russian banks, its sovereign debt and the country’s oil and gas sector. Like many government initiatives, it was passed with the best of intentions: punishing Russia for election interference, aggression toward Ukraine and other bad behavior. But good intensions sometimes lead to unintended, even grave consequences. This is one of those times.

And, it is often small businesses that are disproportionately impacted by actions that lead to unintended consequences. In the global marketplace, small and mid-size businesses account for 97.5% of U.S. exporting firms, and millions of small firms make up the critical supply chain of larger companies whose global footprint drives innovation, jobs and … Read More

FACT SHEET: DASKA targets U.S. companies, not the Kremlin

DASKA: The Defending American Security from Kremlin Aggression Act (DASKA) is a Russia sanctions bill recently passed by the U.S. Senate Foreign Relations Committee. It attempts to punish Russia for election interference and other bad behavior. Yet DASKA actually cracks down on the hundreds of U.S. companies that do business in Russia.

This crack down will also impact thousands of U.S. small business suppliers to key industries, like aerospace, agri-business, consumer goods and energy. These small and mid-size businesses are the heart and soul of many communities whose presence and jobs are critical to the vibrancy and health of local markets.

DASKA inadvertently harms U.S. companies instead of Russia. Congress must ACT NOW to fix DASKA so it punishes Putin, not U.S. businesses.

Unfortunately, despite good intentions, the legislation would cause serious unintended consequences for U.S. businesses. Some proponents have … Read More