Quigley, Keating, Fitzpatrick & Kaptur Introduce Bill Calling on U.S. Companies to Stop Operating in Russia

Today, Members of Congress Mike Quigley, Co-Chair of the Congressional Ukraine Caucus, Rep. Bill Keating, Rep. Brian Fitzpatrick, and Congresswoman Marcy Kaptur, introduced the bipartisan Stop Putin For Profits Act. This bill calls on U.S. companies still operating in the Russian Federation to reconsider their continued presence, which helps to support the Russian economy, given Russia’s war of aggression against Ukraine.

 The continued operations of U.S. companies in the Russian Federation undermines the efforts taken by the United States and its allies to enact punitive measures against Russia for the invasion and attempted occupation of sovereign Ukrainian territory. A team at the Yale School of Management compiled a list of 27 U.S. companies that continue to operate in Russia despite the horrific crimes taking place in Ukraine. According to the same database, 47 U.S. companies are holding off new investments and development but are continuing substantive business inside Russia. The bill makes clear that Congress condemns the continues presence of these companies in Russia, given the role they play in supporting Vladimir Putin’s financial ability to wage a war in Ukraine.

 “The United States has supported Ukraine militarily throughout the Russian invasion and our economic policies must mirror that position. This resolution seeks to ensure that not a single American dollar goes towards funding Putin’s war machine. American businesses must make a choice between turning a profit or doing their part to help end Putin’s assault on Ukraine,” said Congressman Mike Quigley.

“The continued presence of American companies operating in Russia is a critical threat to U.S. and allied efforts in Ukraine.  These companies are providing the revenue that Putin requires to continue his war against Ukraine,” said Ranking Member Keating. “This legislation calls on American companies that do not provide lifesaving or health related goods and services to stop operating in Russia and urges the State Department to issue a business advisory on the heightened risks associated with conducting business in Russia as they have for other dictatorial nations.”

“The global community must use every tool at its disposal to cut Vladimir Putin off from the resources he needs to carry out his criminal war in Ukraine,” said Congresswoman Marcy Kaptur. “The continued illegal invasion of Ukraine remains unacceptable — it is past time for U.S. companies that continue to conduct business in Russia to stop contributing to Putin’s capability to wage war on Ukraine. I am proud to support the Stop Putin For Profits Act, to build on existing sanctions and further isolate the Russian war machine so that Liberty may prevail.”

“As Vladimir Putin continues to wage his illegal invasion of Ukraine, the United States cannot continue to support companies that bankroll his brutal war,” said Congressman Fitzpatrick. “This resolution makes clear that this Congress stands with the brave Ukrainian freedom fighters over Putin, and I am proud to co-lead this bipartisan effort.”

Specifically, this legislation: 

• Condemns U.S. companies that continue to operate in Russia while Putin wages a war of aggression against Ukraine.
• Underscores that those companies who continue to profit for their presence in Russia are undermining US efforts to enact putative, financial sanctions against Putin’s regime.
• Supports and encourages Americans who choose to exercise their free speech rights by boycotting companies that do not provide lifesaving or health-related goods and services to the Russian people yet continue to operate in Russia.
• Encourages American companies who provide goods and services to democracy activists in Russia to create specific programs to continue to make those goods and services available to support democracy promotion initiatives.
• Commends companies that have already suspended operations in or withdrawn from markets in Russia in response to the Putin regime’s unlawful invasion of Ukraine.
• Calls on the U.S. Department of State to issue a business advisory on the heightened risks associated with conducting business in Russia, particularly business activity that could benefit the Putin regime.