Minnesota to divest from Russia over Ukraine war

March 31, 2022

ST. PAUL, Minn. (AP) — Minnesota state government will divest its assets in Russia to show its solidarity with the people of Ukraine, a bipartisan expression of moral outrage that supporters say is worth the cost.

The Minnesota Senate voted 67-0 Tuesday to mandate that the state sell off its investments in Russia and neighboring Belarus, which has supported Russia’s month-old war in Ukraine. Those assets are mostly held by the state’s public employee pension funds.

“It is extremely important that we show Ukraine we stand with them in joining an ever-growing number of democracies in standing up to the atrocities happening in the Ukraine,” said the bill’s chief author, Republican Sen. Karin Housley, of Stillwater, who was dressed in Ukrainian blue and yellow.

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The unanimous vote, which followed unanimous approval in the House last Thursday, sends the bill to Democratic Gov. Tim Walz for his signature.