Reaction to the Russian invasion of Ukraine has been as vocal, impassioned and indignant in Westchester, Fairfield and throughout New York and Connecticut as was seen anywhere in the world. Government leaders, businesspeople and community activists demonstrated their disgust with what Russian President Vladimir Putin ordered while taking practical steps to collect funds and supplies for the Ukrainian people.
Ukrainian President Zelenskyy was able to continue contacts with the Ukrainian people and the outside world on TV and the internet even while a 40-mile-long Russian convoy moved closer to the capital city of Kyiv, which along with other cities had been hit by missiles, artillery and aerial bombardment. Street-by-street fighting was reported in many areas. Hundreds of thousands fled to bordering countries that had geared up to handle refugees while other Ukrainians took up arms to join with the military in defending their country.
Sunday, Feb. 27 was a day of prayer for Ukraine in Westchester. Both Westchester County Executive George Latimer and Yonkers Mayor Mike Spano issued invitations for people to gather at St. Michael the Archangel Ukrainian Catholic Church in Yonkers to show of support for Ukraine and its people.
“We are here in a human capacity,” Latimer said. “We see the humanity here in the Ukrainian community of Yonkers, in Westchester County, and by extension, the world. We are praying, all of us, for justice to be done in Ukraine. We will continue to pray for peace in Eastern Europe and across the globe.”
Father Kiril Angelov, pastor of the church, said, “Being together here at Saint Michael the Archangel shows we are praying together. I am convinced prayer will win.”
The church has been open since 1899 and includes more than 400 families in the parish.
Later that day, New York Gov. Kathy Hochul signed an Executive Order banning New York state from doing business with Russia in the wake of the invasion and requiring g that New York remove money and other assets from any institution or company that is determined to be Russian. The order remains in effect for as long as federal sanctions against Russia remain in effect.
“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.”
In Connecticut, State Treasurer Shawn T. Wooden announced that the state”™s pension funds will pull public funds from Russian-owned assets. As of Feb. 24, $218 million in Connecticut pension fund monies were invested with Russian entities.
“The world”™s condemnation is clear, and economic sanctions have paralyzed the Russian economy,” Wooden said. “We cannot stand idly by as the humanitarian crisis unfolds and Russian markets crumble, and I cannot continue to invest these pension funds in a way that runs counter to the foreign policy and national interests of the United States.”
The Purchase-based credit card giant Mastercard blocked Russian banks from using its network to process credit card payments. Credit card company VISA did the same.
Mastercard”™s CEO Michael Miebach said, “Given the unfolding emergency, we are also working with our partners to direct funding and humanitarian aid where it can provide the greatest impact. Today, we announced a $2 million contribution to the Red Cross, Save the Children and our employee assistance fund for humanitarian relief. We will actively pursue additional opportunities to assist aid organizations to play our part in supporting the global relief effort.”
Sen. Kirsten Gillibrand of New York, who is on the Senate Armed Services Committee and Select Committee on Intelligence, said, “Together with our allies, the U.S. must impose crushing sanctions on Russia and strengthen the defenses of our NATO allies. The world must be united and resolute against this act of aggression.”
U.S. Rep. Mondaire Jones said, “The free world stands united in condemning Vladimir Putin”™s aggression towards the people of Ukraine, their freedom, and their sovereignty. Russia must be held accountable for its actions.”
U.S. Rep. Sean Patrick Maloney, expressed his support for Ukraine, saying, “Russia”™s invasion of Ukraine is an illegal violation of Ukrainian sovereignty that cannot be tolerated. I stand with the people of Ukraine and condemn Russia for this senseless invasion and the tragic loss of innocent life caused by their unjustified aggression towards Ukraine.”
Dutchess County Executive Marc Molinaro said, “President Putin”™s unilateral actions in Ukraine are indefensible and dangerous. By sending Russian troops to territories in Ukraine, Putin is starting a war of aggression and a war of choice, all to expand territorial Russia. It violates international law and international norms to respect sovereign national boundaries. It will not end well. War in Ukraine will lead to a humanitarian disaster and have far reaching impacts throughout the world.”
Connecticut”™s U.S. Sen. Chris Murphy said in a Tweet, “Every new hour Russia is unable deliver a decisive blow, the will to fight grows in Ukraine.”
Sen. Richard Blumenthal said, “Putin”™s decision to invade is an evil, panicked move of weakness and will be his defining mistake. The Ukrainian people will fight for as long as it takes to secure their nation from this foreign tyrant, and the United States will stand with them.”
U.S. Rep. Jim Himes said, “By invading Ukraine, Vladimir Putin has chosen to violate international law and ignore the warnings of the United States, NATO, and the community of free nations. This decision will bring terrible consequences for him and his supporters in the form of sanctions and other crippling measures. He should immediately withdraw all troops or risk an escalation in consequences that will not end well for him or his regime.”
Russia”™s economy immediately began to feel the strain on economic sanctions imposed by the free world. Both the New York Stock Exchange and NASDAQ halted trading in Russian stocks, and stock prices tumbled in Moscow before the Russian market was forced to shut down. The value of the Russian Ruble sank and Russian banks were selectively kicked out of the international banking system SWIFT through which about 11,000 banks worldwide electronically make and receive payments.
In a background briefing call, a senior White House official told the Business Journal and other news media, “If one of these de-SWIFTed Russian banks wants to make or receive a payment with a bank outside of Russia, such as a bank in Asia, it will now need to use the telephone or a fax machine. In all likelihood, most banks around the world will simply stop transacting altogether with Russian banks that are removed from SWIFT.”
The White House official also said that the Russian Central Bank, the single-most important financial institution in Russia, was being blocked from using its reserve funds to support the Russian currency. Russia had stockpiled about $630 billion in currency reserves to which it was being denied access.
