Seeking to tighten the financial squeeze on Russia over its war against Ukraine, governors and lawmakers in numerous U.S. states were taking actions Monday to pull state investments from Russian companies while encouraging private entities to do the same.
The effect of sanctions by U.S. states often pales in comparison to national ones, but state officials said they wanted to show solidarity with Ukraine and do what they could to build upon the penalties imposed on Russia by the U.S. government and other Western nations.
Georgia House Speaker David Ralston, a Republican, got a bipartisan standing ovation Monday when he told representatives he would seek to have the state’s retirement funds quickly divested from any Russian assets.
“I don’t know about y’all, but I don’t want one penny of Georgians’ money going to subsidize Vladimir Putin,” Ralston said. “While our role in international affairs is limited, we make clear we stand with those who want to live in peace.”
Some actions have been largely symbolic. The capitols in Arizona, Pennsylvania and Tennessee and the governor’s mansion in South Carolina were lit with the blue and yellow colors of Ukraine’s flag. Minnesota Gov. Tim Walz, a Democrat, and Ohio Gov. Mike DeWine, a Republican, issued a joint statement condemning Russia’s invasion of Ukraine as co-chairs of the presidentially appointed Council of Governors.
Other state actions have potential teeth.
On Monday, the Indiana House passed legislation that would block Russian-controlled businesses and nonprofits from acquiring property in Indiana for one year. It now goes to the Senate.
Governors in Connecticut, New Jersey, Virginia and Washington also have ordered a review of whether any state money is going to Russian companies or investments supporting the Russian government. A North Dakota investment board was due to meet later this week to discuss its investments in Russia.
“If our state can put one brick in the wall around Putin, it will be a good thing, and we intend to do all that we can in this regard,” said Washington Gov. Jay Inslee, a Democrat.
Several states have expressed a willingness to provide housing to Ukranian refugees. The Washington state House and Senate each have added amendments to their budget proposals setting aside $19 million to provide services and temporary housing to refugees who come from Ukraine.
