WGXC-90.7 FM

State senator calls for NY to divest from Russia

Feb 25, 2022 1:00 am

Nick Reisman is reporting for State of Politics state Sen. Elijah Reichlin-Melnick, a Democrat, on Thu., Feb. 24, proposed legislation designed to punish Russia for its invasion of Ukraine by having New York sever economic ties with the country.  Reichlin-Melnick's proposal would ban the awarding of state contracts to any company that is conducting business with Russia. At the same time, New York State Comptroller Tom DiNapoli's office would be authorized to begin divesting the state's pension fund from companies that have business interests in Russia. “Russia’s unprovoked and illegal invasion of Ukraine demands the strongest possible response. 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...," Reichlin-Melnick said. The proposal was made as international sanctions were being issued following the attack. President Joe Biden at the White House Thursday announced that U.S. sanctions would include actions against Russian banks and make Putin a pariah on the international stage. Read the full story at nystateofpolitics [dot] com.