March 18, 2022
Pressure is mounting on Koch Industries, the conglomerate run by the rightwing billionaire Charles Koch, to pull out of Russia after it was revealed it was continuing to do business in Russia through three wholly-owned subsidiaries.
Hundreds of companies including Coca-Cola, KPMG, McDonald’s, Netflix and Starbucks have paused operations in Russia following its invasion of Ukraine. But, as news site Popular Information revealed, three Koch subsidiaries are still operating in the country: Guardian Industries, a glass manufacturer; Molex, an electronic components manufacturer; and Koch Engineered Solutions, a provider of industrial products.
“Koch Industries is shamefully continuing to do business in Putin’s Russia and putting their profits ahead of defending democracy,” the Senate majority leader, Chuck Schumer, and Senator Ron Wyden, said in a joint statement. “As the democracies of the world make huge sacrifices to punish Russia for Putin’s illegal and vicious invasion of Ukraine, Koch Industries continues to profit off of Putin’s regime.”
“It must stop,” Schumer wrote on Twitter, adding that he and Wyden were “exploring legislation to add Russia to existing laws denying foreign tax credits for taxes paid to North Korea & Syria.”
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