Corker, who chairs the committee, told CNN that senators would hold open hearings as well as classified, closed-door briefings.

"We are going to systematically walk through the entire Russia issue and fully understand what has transpired," Corker said.

Corker's decision makes the Foreign Relations panel the third Senate committee to probe allegations that Russia tried to influence the U.S. election. The Intelligence and Armed Services committees are also expected to conduct their own investigations.

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A spokeswoman told The Hill that the committee will begin with hearings in early January. "The committee plans to systematically look at this issue in the broader context of our overall Russia policy and will begin with both a classified briefing and an open hearing on Russia," the aide added. The Washington Post reported Friday that the CIA concluded Russia intervened in the election to try to help the real estate mogul.