New Jersey lawmakers pass bill to prohibit Russian investments

Robert Walker

TRENTON, NJ – Democrats and Republicans in Trenton united in solidarity with Ukraine as the country continues to be attacked and bombed by Russian forces. Now heading into its second week, the brutal Russian campaign, directed by President Vladimir Putin continues to make the nation of Ukraine a warzone.

Now, acting in response to Russia’s unprovoked attack on Ukraine, the Senate approved a bill sponsored by Senator Paul Sarlo and Senator Declan O’Scanlon that would prohibit public investments with Russia. The Senate also expressed its overwhelming, bipartisan support for Ukraine by voting for a resolution condemning Russia for its unjustified invasion and expressing New Jersey’s solidarity with the people of Ukraine.

“We won’t stand by while Russia conducts an unjustified war against Ukraine without taking action,” said Senator Sarlo (D-Bergen), the committee’s chair. “These economic prohibitions will make them pay a price by cutting off sources of revenue here in New Jersey. If other states follow our lead, it will make the sanctions imposed by countries throughout the world even more effective. We should try to bleed Putin and his oligarchs dry of their profiteering.”


“It’s clear that Vladimir Putin has little fear that the people of his nation will learn the truth of the atrocities being committed under his command in Ukraine when they only have access to censored media that spews lies and fake news,” said Senator O’Scanlon (R-13). “While Putin might be able to control the flow of information within Russia, he won’t be able to shield his nation from the economic impact of sanctions and divestment undertaken by governments across the world, including the State of New Jersey. These unified actions are not intended to hurt peaceful Russian citizens, but to send a strong message to the oligarchs and others in positions of power that their leader has crossed a line with his war in Ukraine that the international community will not tolerate.”

The Senate vote was 39-0.

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