In an executive order signed Sunday, New York Governor Kathy Hochul forbade the state from doing business with Russia, while also canceling investments.
“We have said we’ll open up our hearts, our homes, our resources to the people of Ukraine, to say, ‘We stand with you,’” Hochul said, welcoming Ukrainian refugees in response to Russia’s invasion, noting at a press conference in Albany that her state is home to the largest Ukrainian population in the U.S.
Federal estimates show that around 140,000 of the more than 1 million people in the U.S. who report Ukrainian ancestry live in New York. “If you need a place to stay, you want to come over here, we will help you become integrated into our community,” she said, “as we have been open so to so many other refugees in the past, including those from Afghanistan most recently.”
According to the executive order, the state “will not permit its own investment activity, whether directly or indirectly, to aid Russia as it commits these human rights violations and atrocities.” Hochul ordered state agencies to divest money and assets from investments in companies or institutions determined to be a “Russian or supporting entity.” And she forbid the state from doing business with such entities.