20 members of Congress personally invest in top weapons contractors that’ll profit from the just-passed $40 billion Ukraine aid package

Business Insider

Some members of Congress stand to personally profit off Russia’s war on Ukraine. At least 20 federal lawmakers or their spouses hold stock in Raytheon Technologies and Lockheed Martin, which manufacture the weapons Western allies are sending Ukraine to fight Russian invaders, according to an Insider analysis of federal financial records. The stock holdings by members of Congress come as Congress, on Thursday, approved $40 billion in defense and other aid to Ukraine. Both companies’ stock — especially that of Lockheed Martin — have risen since Russia invaded Ukraine on February 24. Among the weapons the US and NATO members have dispatched to Ukraine are the so-called “fire and forget” Javelin and Stinger missiles that troops carry on their shoulders during battle. The joint Raytheon/Lockheed Martin-made Javelin missile is touted as “the world’s premier shoulder-fired anti-armor system” capable of destroying battle tanks. Raytheon’s Stinger missiles are designed to shoot down helicopters and other low-flying aircraft. Raytheon advertises the Stinger as “rapidly deployed by ground troops” and credited with “more than 270 fixed- and rotary-wing intercepts.” Among those investing in the defense contractors is Republican Rep. John Rutherford of Florida who purchased between $1,001 and $15,000 worth of Raytheon stock on February 24 — the day Russia invaded Ukraine. Rutherford sits on the House Appropriations Committee that’s in charge of federal government spending. In that role he serves on the subcommittee for Homeland Security as well as the Military Construction, Veterans Affairs, and Related Agencies subcommittee. “What we’re seeing in Ukraine is the tragic consequence of an evil & aggressive dictatorship,” Rutherford tweeted on February 24. “Putin invaded a sovereign nation for no legitimate reason, & he must be held accountable. The U.S. and our allies must impose the maximum possible sanctions & leave nothing off the table.” Rutherford’s office did not return Insider’s requests for comment. Rutherford’s office previously said the congressman’s stocks are managed by a third party. Another Republican, Rep. Marjorie Taylor Greene of Georgia, bought between $1,001 and $15,000 in Lockheed Martin shares on February 22.

Two days after her purchase, Greene wrote in a Twitter thread: “War is big business to our leaders.” In a statement to Insider, Greene said her investment advisor made the purchase and noted it was only one among several other new purchases.

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