Lawmakers Ask 6 Banks and Ports to Preserve Records on Russian Diesel Shipments to U.S.

Key Facts

Democratic lawmakers in Congress asked banks and port authorities to preserve any records they have related to potential imports or other deals involving Russian diesel, according to Axios. The request comes as the first tanker carrying Russian diesel to the United States under an agreement announced by President Donald Trump set sail, according to the Kremlin, as reported by the Associated Press. The letter warned that importing the fuel into the United States raises legal questions and could lead to legal action and congressional investigations. One of the official letters was addressed to Goldman Sachs Chairman David Solomon on October 24, 2026, and requested that records of any proposed or completed Russian diesel import be preserved. The letters do not establish that a formal investigation has begun, but they widen political scrutiny to include financial institutions and ports that may be connected to the shipment or its arrangements.

The recipients included Goldman Sachs, Citi, Bank of America, Wells Fargo, Morgan Stanley and J.P. Morgan, as well as the port authorities of Houston, Beaumont and Corpus Christi in Texas, and the Port Authority of New York and New Jersey. Senator Jeanne Shaheen led the letter, which was signed by Senators Chris Coons, Elizabeth Warren, Ron Wyden and Sheldon Whitehouse, and Representative Greg Meeks. It was also signed by retiring Republican Senator Thomas Tillis. The letter to Goldman Sachs requested written confirmation that records-preservation measures had been implemented by October 28, 2026. It also asked the firm to state whether it had participated in, or had knowledge of, a potential or completed deal. The request puts document preservation at the center of the current effort, alongside the warning about potential legal consequences, without itself establishing that any of the named entities was involved in importing the diesel.

The letter cites the 2022 Ending Russian Oil Imports Act, which it says generally prohibits imports of Russian-origin energy products, including diesel fuel. It lists conditions related to a cessation of hostilities, no threat to NATO countries and Ukrainians' right to choose their government as relevant to an exemption from the ban. It warned that companies importing products in violation of U.S. law could face civil and criminal liability, and that criminal penalties could include those who knowingly purchase Russian diesel or facilitate its import. The letter said: "Companies that import products in violation of U.S. law may expose themselves to criminal and civil liability." It also cited Section 216 of the CAATSA law, saying that any license that materially changes U.S. foreign policy toward Russia is subject to congressional review, and alleged that the administration had not met this requirement.

Against the backdrop of the dispute, Axios said Trump announced an agreement earlier in October to increase Russia's exports to global and U.S. markets, and that the Treasury Department lifted sanctions to help make it possible. The Treasury's Office of Foreign Assets Control issued General License No. 135 on October 9, authorizing transactions for the sale, delivery, offloading and import of Russian diesel through April 7, 2027. The license includes exceptions concerning the deduction of funds from accounts held by certain Russian entities at U.S. financial institutions. This places the license at the heart of the dispute between the administration and lawmakers over the scope of permission for diesel-related transactions. Lawmakers and other critics said the deal could conflict with the 2022 law banning imports of Russian oil, gas and petroleum products.

The Kremlin said the first tanker carrying Russian diesel to the United States had set sail under the agreement and that regular supplies would continue, the Associated Press reported, citing spokesman Dmitry Peskov. Kpler said the tanker was headed to New York, with arrival expected on November 7, and would be the first shipment of Russian diesel to reach the United States since July 2023. The report quoted Russian Deputy Prime Minister Alexander Novak as saying the first shipment amounts to 40,000 tons, or about 300,000 barrels. That equals about 7% of U.S. daily consumption of nearly 4 million barrels of diesel, according to figures Novak cited. Ukrainian President Volodymyr Zelensky called the deal "a weak decision by strong partners."

The Associated Press said energy policy experts believe the deal is unlikely to materially reduce high fuel prices, despite Trump's expectation that millions of additional tons would arrive in the coming months. Separately, the letter asked Goldman Sachs to confirm that it had preserved records and answer questions about participation in or knowledge of the deal by October 28, 2026. That response remains the next specified deadline in the oversight process, which began with the request to retain documents. Axios said some of the Democratic signatories could take leadership roles on congressional committees if the party regained control of one or both chambers. That could give the opposition to the deal a further oversight role later, according to the report.