In this image taken from footage provided by the Ukrainian Defense Ministry Press Service, a Ukrainian soldiers use a launcher with US Javelin missiles during military exercises in Donetsk region, Ukraine, Wednesday, Jan. 12, 2022.
Ukrainian Defense Ministry Press Service via AP
Defense contractors Lockheed Martin and Raytheon manufacture weapons that are heading to Ukraine.
At least 19 members of Congress or their spouses hold stock in these companies.
Some lawmakers sit on congressional committees that regulate defense policy.
Some members of Congress stand to personally profit off Russia’s war on Ukraine.
At least 19 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 the US is preparing to send billions of dollars in defense 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 …read more
Source:: Business Insider