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NJ Gov. Phil Murphy mulls state action on Russia-linked Lukoil gas stations


New Jersey Governor Phil Murphy, the governor of New Jersey said Monday that state officials are considering taking action against several Russian-linked individuals. LukoilHe is threatening to close financial ties to the country in response to Ukraine’s invasion.

Murphy stated that they are trying to decide what to do about the stations in CNBC’s SquawkBox.

The Democratic Governor last week signed a proclamationInstructing state agencies that they review their power to suspend Russian-owned business licenses, and of companies investing directly in Russian or Belarusian entities.

Murphy indicated that New Jersey has 33 Lukoil gas stations. Murphy said that most of the Lukoil stations are franchised by New Jersey businesses.

“But, that’s an excellent example of something that you know, is not in New Jersey. Murphy stated that we will have to solve this problem.

Lukoil is Russia’s biggest energy producer and has over 200 stations in America. The Americans are calling for boycotts of those stations as Russian President Vladimir Putin waged war on Ukraine.

Murphy admitted that the Lukoil stations in New Jersey, and elsewhere, are operated and franchised by residents.

After the Newark council, days later, the governor has made a Lukoil hedge unanimously voted to push to suspend the licensesOne of two Lukoil stations located in New Jersey’s largest city.

Jersey gas station supporters have condemned the actions and claimed that they are only going to harm small-business owners in America.

Lukoil in a statement last week called for “the immediate cessation”Russia’s conflict in Ukraine. American oil imports from Russia are under pressure. President Joe Biden is known for backing crippling economic sanctions and the ultra-rich Russian oligarchs. Meanwhile, the crude oil price is rising. are spiking on the volatility.

Murphy has pledged to continue to work with Russia to disengage his state from its business.

“We are looking to verify whether we have any pension investments. It’s likely that it is de minimis, and there will be a new law this week to reduce that number to zero. Murphy stated Monday that the United States wants to ensure there is no further engagement with Russia.

“This is not a war of choice. It’s coming from a warmongering thug. We’re going all out to say that it’s not in New Jersey,” said the governor.

He stated that “We have the highest number of Ukrainians in American states and we carry this as a badge o honor. We’re going stand strong with our Ukrainian brothers, sisters in all ways we can.”