On March 19th the Club For Growth called on the Chamber of Commerce to help stop the U.S. Export-Import Bank from guaranteeing loans to “Russian oligarchs and companies with ties to the Russian mob.”
Club for Growth says the Export-Import Bank “once gave a loan to a Russian oil company with ties to the Russian mafia.” One such loan was approved last April guaranteeing “$489 million in credits to a Russian oil company whose roots are embedded in a legacy of KGB and Communist Party corruption.”
To be clear, Club for Growth president Chris Chocola said, “We don’t think the Export-Import Bank should exist at all, let alone even consider giving” loans to these types of Russian companies and figures.
We have no idea what happened with the Export-Import Bank’s discussions with Timchenko, but there’s certainly no reason why U.S. taxpayers should be footing the bill for subsidies to one of Vladimir Putin’s biggest allies… We hope the Chamber of Commerce will join us in asking the Export-Import Bank to immediately cease doing business with all Russian companies.
Follow AWR Hawkins on Twitter @AWRHawkins. Reach him directly at email@example.com.