California Government Might Divest From All Russian Assets
Sacramento, CA — California’s Senate Majority Leader is pushing forward legislation to divest state government from all Russian assets immediately.
Democrat Mike McGuire announces that the bill has wide “bipartisan support.” It comes in response to the Russian attacks against Ukraine. McGuire estimates that California has over $1-billion in Russian investments, with most of it tied to pension funds.
McGuire says, “We all must mobilize to stop Russia in its tracks. California has unique and remarkable economic power in this circumstance. As the fifth-largest economy in the world, we must use this power for good.
The White House has also announced economic sanctions against Russia in response to its invasion of Ukraine.