WASHINGTON —The Coalition for a Prosperous America (CPA) announced its support for increased sanctions on Russian companies and institutions – including capital markets sanctions and secondary sanctions on those who seek to help Russia circumvent U.S. sanctions. CPA commends the actions being taken to excise Russian companies from U.S. markets – but more must be done to ensure Americans are not supporting Russian companies like Gazprom, Sparebank, Lukoil, and other Russian assets in U.S. equities markets.
“The immediate and cascading impacts of President Biden’s and allied nations’ sanctions to date are starting to be realized as we see the financial turmoil hitting the Russian economy,” Michael Stumo, CEO of Coalition for a Prosperous America said. “We must continue an all-of-the-above approach to cut off Russian resources, protect American interests, and punish the aggressors of this absurd crisis.”
CPA recommends the White House take continued action and immediately do the following:
- Immediately sign a new executive order targeting specific capital markets sanctions on certain key Russian industries and companies such as the Russian military and cyberspace industrial complex
- Protect retail and institutional investors and pensioners from funding Moscow’s agenda via capital markets sanctions.
- Establish secondary sanctions to thwart Chinese or any other entities or individuals from helping Russia circumvent sanctions