The Indiana House of Representatives has unanimously approved an amendment designed to punish Russia for its invasion of Ukraine. Our partners at WIBC report the amendment from Rep. Ryan Dvorak (D-South Bend) would bar any businesses associated with the Russian Federation from purchasing real estate in Indiana.
The amendment was made to House Bill 338, which deals with foreign gifts and ownership of agricultural land. If signed into law, the moratorium on Russian entities would last for one year, beginning July 1.
In an interview with WIBC, Dvorak said the move could send a message to other states.
“I thought it was important that we show as the State of Indiana, we could hopefully set the stage for other states to put a moratorium in place to start denying a safe haven for this bloody Russian money,” said Dvorak. “As far as I know this is the first time that any state has passed any moratorium on Russian purchases of real property.”
Dvorak says it is important to bring as much financial pressure to the Russian government as possible and the amendment is designed to add to the federal sanctions that are being levied.
“We don’t have our own stockpiles of military equipment to send. But, we can join that fight in cracking down on this laundering of money that provides really the entire base of support for the Russian government.”
The House is expected to give a final vote on the bill next week.
You can listen to WIBC’s interview with Dvorak by clicking here.