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Economy

Michigan lawmaker wants US stock market to stop trading with Russian-based companies

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Rep. Bill Huizenga
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Republican Congressman Bill Huizenga (MI-2) says Russian-based publicly traded companies should not benefit from free markets while Russia occupies Ukraine.

The New York Stock Exchange and Nasdaq announced on Monday that they both would temporarily suspend trade of Russian-based stock.

"That is, I think, an important step that the exchanges on their own volition have taken. And we want to encourage that," he said.

But Huizenga says that’s not enough.

He’s calling on the U.S. stock markets to permanently ban trade with Russian-based companies. He says that trade should only resume once Russia has left Ukraine.

Huizenga serves on the House Financial Services Committee, which covers issues related to banking, housing and international finance.

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