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After Cortez Masto and Cornyn Push, Treasury Suspends Russia Tax Treaty

Washington DC U.S. Senators Catherine Cortez Masto (D-Nev.) and John Cornyn (R-Texas) applauded the U.S. Treasury Department proclamation to suspend the double taxation provisions of the United States' tax treaty with Russia, effective August 16, 2024. This follows bipartisan efforts by senators pushing the Biden administration to stop providing preferential tax treatment to Russian investors and businesses in response of Russia's illegal war in Ukraine and Vladimir Putin's the decision to suspend many of the provisions of the treaties for Americans investing in Russia. The US-Russia tax treaty was passed in 1994 to promote closer economic ties between Russia and the US after the collapse of the Soviet Union.

Suspending these treaty provisions is a critical step in ensuring that Russia continues to face severe consequences for its illegal occupation of Ukraine and its hostile actions toward the United States, and I will continue to work on it. the entire row to hold Russia accountable. said Sen. Cortez Masto.

There is no reason for the US to give any preferential tax treatment to Putin's authoritarian regime, Senator Cornyn said.I'm glad the administration responded to our call to suspend this antiquated and counterproductive tax treaty with Russia, and that should be welcome news to every American who values democracy, peace and freedom around the world.

Senators Cortez Masto and Cornyn have worked consistently to hold Russia accountable for their illegal occupation of Ukraine, supporting bipartisan economic sanctions that were signed into law and pushing for additional resources so that Ukraine can continue to resist them. Putin.

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2/ https://www.cortezmasto.senate.gov/news/press-releases/following-cortez-masto-and-cornyn-push-treasury-suspends-russia-tax-treaty/

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