In response to the Russian invasion of Ukraine that began in February, Senator Karin Housley (R-Stillwater) authored important legislation that divests Minnesota’s state pension fund from Russia and Belarus, and codifies Governor Walz’s 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. Sen. Housley presented this bill on the Senate Floor today, garnering unanimous bipartisan support.

Governor Walz issued Executive Order 22-03 on March 4, condemning the Russian government’s aggression against Ukraine and supporting the people of Ukraine by ending support to Russian entities. Prior to Russia’s invasion of Ukraine, the estimated worth of Minnesota’s state pension fund investments in Russia was approximately $53 million.

“Thousands of Ukrainians have suffered so much loss and heartache at the hands of Putin’s callous aggression—they have been stuck in the middle of a war no one wanted, and it is heart-breaking that these atrocities have been occurring every day for over a month. Across the world, leaders have stepped up to sanction Russia and its economy. Today, the Senate joined the House to unanimously vote for divesting assets from Russia. We are sending a message that Minnesota stands with Ukraine and all free democracies—we support Ukraine’s right to peacefully exist, and we firmly stand against the violence and atrocities being committed by Putin and his war machine,” said Housley.  

The companion bill passed in the House on a unanimous vote. With the Senate’s subsequent unanimous vote today, the legislation now heads to the Governor’s desk, where it awaits signature before becoming law.