Forbes urges Scottish businesses to stop trading and investing in Russia
Holyrood’s Finance Secretary said firms have a ‘moral responsibility’ to boycott Russia as part of efforts to end the invasion of Ukraine.
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Your support makes all the difference.Scotland’s Finance Secretary has urged businesses to withdraw investments and stop trading in Russia in a bid to “cripple Putin’s economy”.
Kate Forbes said companies had a “moral responsibility” to boycott Russia despite the financial implications it may cause them as part of concerted efforts to end the invasion of Ukraine.
Ms Forbes also said the Scottish Government would support the UK Government if it chose to expel the Consul General of Russia from his Edinburgh consulate.
We all have a moral duty right now to consider what else we can do to impact on the Russian economy
Speaking at the launch of the National Strategy for Economic Transformation, Ms Forbes said economic sanctions “need to be further strengthened” and called for any Scottish businesses operating in Russia to cease trading there.
Ms Forbes told the PA news agency: “We all have a moral duty right now to consider what else we can do to impact on the Russian economy, cripple Putin’s economy and ultimately try to stop at Putin’s aggression in relation to Ukraine.
“So every Scottish business should be considering carefully what more it might be able to do.
“I am not disputing that there won’t be some short-term economic pain as a result of that, that is in no doubt.
“But no short-term economic pain compares to the pain that is being experienced by Ukrainian households right now who are either fighting for their lives or fleeing for their lives.”
Addressing business leaders and representatives at the Michelin Scotland Innovation Parc in Dundee, Ms Forbes said: “While there will be some economic impact in the west – in fact any truly meaningful sanctions would have to have impact here as well as in Russia – any price paid in Scotland, the UK or Europe will be far less than that being paid by the people of Ukraine.
“Any business based here that is still investing in or active in Russia should be aware that in a globalised economy, business has a moral responsibility to play its part and to make clear that aggressor states will not benefit from international trade and investment.
“The Russian invasion of Ukraine reminds all of us who seek to plan for the long term, that, as with the pandemic, the world in which we operate can change quickly, dramatically and, at times, unexpectedly in just days or even hours.”