New York Gov. Kathy Hochul late on Feb. 27 signed an Executive Order banning New York state from doing business with Russia in the wake of Russia’s invasion of Ukraine.
“Russia has chosen to attack democracy and we will stand with Ukraine as we condemn these atrocities,” Hochul said before signing the Executive Order in Albany. “Our state will not permit its own investment activity, whether directly or indirectly, to aid Russia as it commits these human rights violations. New York is home to the largest population of Ukrainians in the United States. They are our family and an attack on them is an attack on us all. We will make our statements and values known and show solidarity with Ukraine as we rebuke this assault on democracy.”
Hochul”™s order directs all state agencies and authorities to review their investments and business dealings and divest public funds from Russia. She said that the order will remain in effect as long as the federal government”™s economic sanctions on Russia remain in effect.
The Executive Order specifies that in addition to removing money and other assets from any institution or company that is determined to be Russian, any contracts with such institutions or companies must be terminated.
“New York stands firmly with Ukraine and strongly condemns Russia”™s activities against Ukraine,” the Executive Order states.
“We are having an attack on democracy the likes of which we have not seen since World War Two,” Hochul said. “So, we forcefully condemn these actions; we call for an immediate resolution. Let the people of the Ukraine resume their normal lives.”
