Gov. Whitmer Calls for Michigan to Join Global Sanctions on RussiaGov. Gretchen Whitmer asks Michigan state leaders to “align our state-level actions” with international sanctions by divesting pension plans and other funds from Russian investments.
By Main Street Sentinel Staff
In the wake of Russia’s invasion of Ukraine, Governor Gretchen Whitmer on Monday called on the State of Michigan Investment Board to hold a special meeting to divest the state’s Retirement Systems pension plans from Russia. Whitmer has also asked the State Treasurer to do the same with trust funds under her direction.
In a letter to State Treasurer Rachael Eubanks, Whitmer expressed support for the growing movement to stand up to Russia with financial sanctions.
“Last week, the world watched with horror as President Vladimir Putin launched an illegal and destructive war against the people of Ukraine,” said Whitmer. “These heinous attacks are aimed at overthrowing Ukraine’s democratic government and violate international law. Since then, the federal government and our international allies and partners have announced significant sanctions targeting Russian financial institutions, state-owned enterprises, and other government-related activities. Michigan supports these national and international sanctions and should align our state-level actions.”
On February 24, Putin ordered an invasion of Ukraine by Russian Armed Forces, a move predicted by political analysts and that earned condemnation from much of the world. Days before the invasion began, tensions were heightened when Putin ordered troops into the eastern Ukraine regions of Donetsk and Luhansk, recognizing them as independent states.
Sanctions from across the globe since the incursion into Ukraine have had a significant impact on the Russian economy, and in her letter to Eubanks, Whitmer said that she was watching for ripple effects that might have negative repercussions for Michigan.
“As the situation in Ukraine progresses, I will continue to stay in touch with top leaders in the federal government on behalf of Michiganders,” Whitmer said. “Michiganders may feel concerned about the impacts this situation will have on Michigan’s economy. For that reason, I will continue to monitor any potential disruptions to our supply chains and prices to protect Michiganders’ pocketbooks and put Michiganders first.”