Treasury Secretary Steve Mnuchin

Democrats have barely begun to dig into the Trump administration's move to lift sanctions on Russian oligarch and Vladimir Putin ally Oleg Deripaska, but it already stinks.

First, Democrats want to know why a billionaire Republican donor with alleged business ties to Treasury Secretary Steve Mnuchin also happens to be a major investor in the behemoth aluminum company Rusal, which is owned by Deripaska.

“We are seeking an explanation as to how you managed your own potential conflicts of interest arising from your personal and professional relationships with major Rusal shareholder Len Blavatnik, a key beneficiary from your decision to delist Rusal,” wrote Democratic Rep. Elijah Cummings and Sen. Ron Wyden, who chair the committees of jurisdiction on the issue.

Last month, Mnuchin abruptly announced Treasury would lift the sanctions it had first imposed on Deripaska and his companies last April for engaging in "malign activities." When Mnuchin "briefed" congressional members on the decision earlier this month, Speaker Nancy Pelosi shredded the briefing as "stiff competition" for "one of the worst classified briefings we have received from the Trump administration."

The Treasury Department also misrepresented the deal from the outset, initially suggesting Deripaska would have to fully "sever his control" of the sanctioned companies. In fact, he and his allies retained majority ownership of the parent company that owns Rusal, EN+, while being freed from hundred of millions in debt. In other words, the deal was a boon to Deripaska.

But Mnuchin's alleged conflicts of interest aren't the only red flag. Among the new board members EN+ announced Monday is Christopher Burnham, a member of Trump's transition team and former Deutsche Bank executive.

Remember Deutsche Bank? That’s the financial institution that lent Trump hundreds of millions after American banks had been scared off by his crushing debt load. Deutsche Bank also just became the subject of a congressional inquiry by House Democrats. Salon reports that when EN+ announced the addition of Burnham, the company cited his work in the Bush administration and at Deutsche Bank—but somehow left out his position on the Trump transition team.