Mar 21, 2022, 9:28pmUpdated 3h ago
By: News 12 Staff
Rep. Ritchie Torres is trying to hold businesses accountable by introducing legislation that would require companies to disclose if they have business ties to Russia.
Torres is introducing the “Reveal Risky Business in Russia Act.”
The goal is to hold companies accountable and to also disincentivize countries from doing business with oppressive governments.
The announcement came Monday, citing Ukrainian President Zelenskyy’s speech to Congress last week, during which he asked companies to exit Russia and stop cooperating with the Russian government.
Rep. Torres says, “The majority of Americans, 52% of Americans are invested in the stock market, either individual stocks or in their retirement accounts or 401Ks. And those Americans have a right to know which corporations do business in Russia at the expense of investors and the American people.”
According to the Yale School of Management, around 400 companies have withdrawn from Russia over the last three weeks.