Idaho state government moves to sever financial ties to Russia
Work has begun to sell off Russia-related state investments.
The state of Idaho is looking to sever its financial ties with Russia as a way to make a political statement about the war in Ukraine.
There are at least three related measures moving in the legislature in Boise.
A House committee on Tuesday approved a resolution that encourages the state’s Endowment Fund Investment Board to sell all of its Russian-related assets.
It’s a ceremonial bill because that work has already begun, says Rep. Bruce Skaug [R-Canyon County].
“We are in process. I’ve talked to the treasurer and she’s told me it’s a little bit difficult. For instance, you buy a general large fund, an ETF that invests in multiple companies and it’s hard to sort out which ones might have some Russian holdings," he said.
A related bill directs the administrators of the state’s Public Employees Retirement System to also dispose of any Russian assets in its portfolio. That bill received a committee hearing on Monday.
A separate resolution praises the courage of the Ukrainian people and urges the state and federal governments to enact appropriate sanctions against Russia. It has unanimously passed the House and may be approved this week in the Senate.