Legislation introduced to divest state pensions from Russian investments

In response to the Russian invasion of Ukraine, a bipartisan coalition of legislators in both the Minnesota House and Senate introduced legislation to divest Minnesota’s state pension fund from Russia and codify Governor Walz’s Executive Order barring Minnesota from contracting with Russian companies into law.

Prior to Russia’s invasion of Ukraine, the estimated worth of Minnesota’s state pension fund investments in Russia was approximately $53 million. Once in committee, the legislation will be amended to also sanction Belarus for its complicity in the Russian invasion.

Earlier this month, Governor Walz issued Executive Order 22-03, condemning the Russian government, and supporting the people of Ukraine by ending support to Russian aligned entities. (SF 3928)

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