Europe, Government, Oregon

Oregon will divest Russian investments, Treasurer Read says

Oregon will dispose of about $137 million invested with the Russian government and Russian companies over the country’s invasion of Ukraine, state Treasurer Tobias Read announced Thursday.

The money is tied up in Russian bonds, public equity and currency and with Russian companies represents about 1/10th of 1% or the $135 billion in total funds administered by the state treasury, a spokeswoman said.

Read’s announcement follows moves by other states to pull investments from Russia and Russian companies, as well as the Oregon Liquor and Control Commission’s Monday direction to Oregon liquor stores to remove Russian vodka from their shelves.

“The situation in Ukraine is serious, tragic, and growing more desperate by the day. I stand with Ukraine,” Read said in a statement. “I have directed my staff at Oregon State Treasury to work with relevant federal agencies and regulatory authorities to dispose of assets in . . .

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