BOSTON – Congressman Bill Keating, Ranking Member of the House Foreign Affairs Subcommittee on Europe, recently introduced a bill alongside Congresswoman Marcy Kaptur and Congressmen Brian Fitzpatrick and Mike Quigley calling on U.S. companies operating on Russian soil to cease operations in the country.
The Bipartisan Stop Putin For Profits Act condemns U.S. companies that continue to undertake business dealings in Russia during its war against Ukraine, stating that those who do so are undermining efforts to enact financial punishments against Putin’s regime.
The Bill commends companies that have already suspended or withdrawn from Russian markets in response to the ongoing war, and encourages Americans to boycott companies that do not provide life-saving or health-related services yet continue to operate in Russia.
“The continued presence of American companies operating in Russia is a critical threat to U.S. and allied efforts in Ukraine. These companies are providing the revenue that Putin requires to continue his war against Ukraine,” said Keating.
“This legislation calls on American companies that do not provide lifesaving or health related goods and services to stop operating in Russia and urges the State Department to issue a business advisory on the heightened risks associated with conducting business in Russia as they have for other dictatorial nations,” he said.
A team at the Yale School of Management created a list of 27 U.S. companies that continue to operate in Russia, as well as 47 U.S. companies that have suspended new investments and developments in Russia but continue to do business there.
“As Vladimir Putin continues to wage his illegal invasion of Ukraine, the United States cannot continue to support companies that bankroll his brutal war,” said Congressman Fitzpatrick. “This resolution makes clear that this Congress stands with the brave Ukrainian freedom fighters over Putin, and I am proud to co-lead this bipartisan effort.”
By, Matthew Tomlinson, CapeCod.com NewsCenter
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