May 19, 2024
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Linking Northern and Central NJ, Bronx, Manhattan, Westchester and CT

Governor Stops NJ From Doing Business With Russia, Belarus

With the Jewish community’s attention focused on the Russian invasion of Ukraine and the unfolding humanitarian crisis, any substantive act of opposition to Russia in our area is noteworthy. On March 10, New Jersey Governor Phil Murphy signed bipartisan legislation that forbids public entities from doing business with Russia or with businesses tied to Russia or Belarus. Assemblyman Gary Schaer sponsored the legislation in the New Jersey State Assembly (A-3090), and Senator Paul Sarlo sponsored the legislation in the New Jersey State Senate (S-1889).

“New Jersey will not fund international conflict; we will act in cooperation with the Biden administration to make the Russian invasion financially untenable,” Schaer (D-Passaic and Bergen) was quoted as saying in a press release. “Violating Ukraine’s democratic right to self-governance must have consequences. My heart is with the people of Ukraine, and the diaspora community in New Jersey. Our state will stand with Ukraine in its fight for freedom.”

During these times of uncertainty, New Jersey is committed to using its resources to force an end to Russia’s illegal violation of Ukraine’s sovereignty. The legislation bans public entities from investing pension funds, accepting public contracts or partnering with Russian and Belarus financial institutions.

“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, in the release. “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.”

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