Minnesota lawmakers plan bipartisan divestment from Russia

ST. PAUL, Minn. (AP) — A bipartisan coalition of legislative leaders has announced a deal to divest Minnesota’s pension funds from Russia over its invasion of Ukraine. Minnesota joins governors and lawmakers across the country in putting financial pressure on the Russian Federation.

The state’s pensions funds were estimated to be worth around $53 million before Russia’s invasion of Ukraine.

The legislation would also codify an executive order from Democratic Gov. Tim Walz that prohibits state agencies from doing business with Russian companies.

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Leaders say they expect the bill to pass both chambers within the next couple weeks after going through the committee process.