California Democratic Rep. Adam Schiff held at least $16,000 in Russia-linked investment funds in 2016, according to a review of House financial disclosures.
On Friday, Schiff compared any threat from the Russian Federation to one from North Korea.
Forming a working group on cyber interference in elections with Russia is akin to inviting North Korea to lead one on nonproliferation. https://t.co/KICb2aTkxb
— Adam Schiff (@RepAdamSchiff) July 7, 2017
And that was a day after neurotically accusing President Donald J. Trump of “capitulating” to Russian President Vladimir Putin.
— Adam Schiff (@RepAdamSchiff) July 6, 2017
Schiff’s Russia-connected investments rested in pharmaceutical multinational AbbVie and an iShares MSCI Emerging Markets ETF. Schiff’s most recent 2016 House financial disclosure report reveals that Schiff had at least a thousand dollars in the iShares fund and another $15,000 in AbbVie.
According to a year-end 2016 SEC filing from AbbVie:
The company… continues to do business with foreign governments in certain oil-exporting countries, which have recently experienced a deterioration in economic conditions, including Saudi Arabia and Russia. Outstanding net governmental receivables were $122 million related to Saudi Arabia and $110 million related to Russia as of December 31, 2016.
In 2014, Schiff called for particular sanctions on Russia’s energy sector to cripple the Eurasian country’s economy.
We need to prepare sanctions on Russia's energy, mining & banking industries, things that would cripple their economy http://t.co/f708eo1YaZ
— Adam Schiff (@RepAdamSchiff) April 14, 2014
Interestingly, according to a review of the iShares’ ETF’s mid-2016 portfolio, Schiff seems to have held stakes in a dozen Russian energy firms. The emerging-markets ETF was particularly weighted toward Gazprom, of which the Russian government itself owns half. Gazprom produces almost all of Russia’s natural gas.
As far as we know, President Trump has no financial ties to the Russian government. Maybe Rep. Schiff should investigate his own “capitulation” to the country he says is “assaulting public officials.”
Investment firm BlackRock—which, as GotNews revealed in May, oversaw fellow Russia hysteric Rep. Maxine Waters’ Russia-linked investments—managed Schiff’s iShares fund.
Schiff and former Democrat Rep. Jane Harman wrote a Washington Post op-ed in December claiming: “If Russia is not held accountable [for alleged election hacking], Moscow will continue its assault on our democratic institutions and public officials, undermining us at home and benefiting our adversaries abroad.”
In December, on Twitter, Schiff opposed the nomination of current State Secretary Rex Tillerson due to Tillerson’s business connections with Russia as a former CEO of ExxonMobil.
Stay tuned for more.
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