In the wake of Russia’s invasion of Ukraine, and after getting enormous pressure from the public, the State Investment Board convened a special teleconference meeting today to discuss its Russian holdings.
In the meeting, Lt. Governor Brent Sanford said that the state has been able to divest nearly 40% of its Russian assets, decreasing the total amount from $15.9 million to $10 million.
One obstacle that could prevent the board from further divesting is that the Russian government has imposed capital constraints on the ability of foreign investors to remove the capital from Russia.
After holding a roughly 45-minute executive session closed off from the public, the board reconvened and passed a motion to continue trying to liquidate all Russian holdings.
As far as we know, there was no discussion regarding the SIB’s controversial Chinese investments.
KX News will bring you more coverage on the special meeting starting tonight at 5.