Senator Reichlin-Melnick & Assemblyman Sayegh Introduce Legislation To Sever All New York State Business Ties to Any Company Doing Business in Russia
Stop Russian Aggression Act Will Sever All Business Ties to Russia
YONKERS, NY — May 13, 2022 — At a news conference at the Ukrainian Youth Center in Yonkers, New York State Senator Elijah Reichlin-Melnick (D-Rockland/Westchester) and New York State Assemblyman Nader Sayegh (D-Yonkers) urged support of legislation they have introduced known as the “Stop Russian Aggression Act.”
In response to Russian President Vladimir Putin’s invasion of Ukraine, the legislation will block the awarding of New York State contracts to any company conducting business in Russia. Further, the legislation instructs the New York State Comptroller to begin the process of divesting the state retirement system pension fund from any investment in companies that do business in Russia.
“Russia’s unprovoked and illegal invasion of Ukraine demands the strongest possible response,” said Senator Reichlin-Melnick. “New York State does not invest in or support companies that do business in North Korea or Iran, and Vladimir Putin’s reckless actions have now put Russia in the company of these rogue nations.”
“Governor Kathy Hochul and Comptroller Thomas Dinapoli have pledged to divest public funding from Russian businesses,” said Assemblyman Nader Sayegh. ”However, the legislation Senator Reichlin-Melnick and I are asking our fellow legislators to support goes further, severing State business ties with any firm conducting business in Russia.”
Speaking in support of the legislation, Congressman Jamaal Bowman said, “We have to stop Vladimir Putin at all costs and one of the first steps to stopping Putin is to choke off their economy.”
The Stop Russian Aggression Act was introduced in both the Senate and Assembly this week. Senator Reichlin-Melnick and Assemblyman Sayegh are inviting fellow Senators and Assembly members to co-sponsor the legislation.
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