DiNapoli orders divestment from Russian companies

ALBANY, N.Y. (WHEC) — New York State Comptroller Thomas P. DiNapoli said that the state’s public pension fund plans to sell off its holdings in Russian companies.

He has estimated that the New York State Common Retirement Fund has more than 110 million dollars in Russian investments

In a press release on March 1, DiNapoli said that the "unconscionable and immoral invasion" of Ukraine has made Russia an "unacceptable investment risk."

“Russian President Putin’s violent and unpredictable foreign policy has rightfully brought on substantial sanctions and his war has made Russia an unacceptable investment risk. As Russia’s already weak economy plunges toward economic crisis, we are protecting our state pension fund by divesting our minimal investments there and restricting any further investments in Russian companies,” DiNapoli said.

The fund invests on behalf of more than a million current and retired state employees and their families.