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Sarlo Welcomes Successful Sanctions of Companies Doing Business with Russia


TRENTON – Senator Paul Sarlo, the author of the state law enacted in March that prohibits the state government in New Jersey from doing business with Russia or Belarus, welcomed the prohibitions put in place for 157 companies by the Treasury Department. The law also requires the state’s pension system to divest from businesses with ties to the two countries.


“The fact that 157 different companies have been captured by the prohibition shows that the State of New Jersey can have a voice and an influence against Russia’s brutal and illegal invasion of Ukraine,” said Senator Sarlo. “This sends a message that we continue to stand with the people of Ukraine in their courageous fight against tyranny and oppression. The law also helps to degrade the finances of Russia and Belarus, and the profiteering oligarchs who support them, by restricting outside investments to both countries. We want Russia and Belarus to continue to pay a price for their unjustified and illegal aggression against Ukraine.”