Just three days after the U.S. Senate voted overwhelmingly to advance the late Senator Lindsey Graham’s sweeping sanctions bill designed to force Russia to end the war in Ukraine, Vice President JD Vance called Ukrainian President Zelensky and asked him to stop bombarding oil tankers and terminals in the Russian Black Sea port of Novorossiysk.
A key backer of the Graham bill, Republican Katie Britt of Alabama, defended the statute passionately on the Senate floor. “We’re going to cut off the flow of money to [Russian dictator Vladimir] Putin,” Britt declared emphatically. But the international partnership that owns the tankers and terminals Vance asked Zelensky to spare, the Caspian Pipeline Consortium (CPC), generates more than $1.4 billion a year for, among others, the Russian Federation, which owns or controls nearly a 50-percent share.
It’s not technically Russian oil that passes through the CPC’s thousand-mile pipeline and sprawling terminal complex—it’s crude from the vast oilfields in western Kazakhstan. But Russia profits handsomely from dividends, transit tariffs, and port fees. What’s complicated—and the reason Vance picked up the phone—is that U.S. energy giants Chevron and ExxonMobil also own significant shares of the Caspian pipeline.
