In response to the Russian invasion of Ukraine that began in February, the Senate unanimously passed legislation that divests Minnesota’s state pension fund from Russia and Belarus. Notably, this bill also codifies an Executive Order barring Minnesota from contracting with companies headquartered in Russia. This legislation has had strong bipartisan support and is championed by the Minnesota Ukrainian American Advocacy Committee and the Jewish Community Relations Council of Minnesota and the Dakotas. Prior to Russia’s invasion of Ukraine, the estimated worth of Minnesota’s state pension fund investments in Russia was approximately $53 million. 

“The people of Ukraine are suffering as they continue battling against an unprovoked invasion. We must stand with them as they bravely fight for their country. Innocent lives are being lost – these atrocities and war crimes will not go unanswered. The Senate joined the House in voting unanimously to divest Minnesota dollars from Russia and Belarus in response to their inexcusable actions. The people of our state support Ukraine and its citizens. We stand for freedom, democracy, and the right to exist peacefully. We will not tolerate indiscriminate aggression against a free country and its people,” said Sen. Zach Duckworth (R-Lakeville).

The legislation was signed into law by Governor Walz on April 1.