WASHINGTON, Dec. 16 -- Sen. Chris Coons issued the following press release:
Today, U.S. Senators Chris Coons (D-Del.), Dave McCormick (R-Pa.), Elizabeth Warren (D-Mass.), and Jon Husted (R-Ohio) introduced the Decreasing Russia Oil Profits (DROP) Act of 2025,requiring targeted sanctions on anyone, anywhere dealing in Russian oil. Drawing on recommendations from bipartisan national security experts, the DROP Act fills a key gap in U.S. sanctions posture towards the individuals and companies around the world who import and move Russian-origin oil - the most important source of revenue propping up the Kremlin's war spending. The bill would provide for limited exceptions that promote U.S. and Ukrainian interests, such as exceptions for countri...