Washington Treasurer Mike Pellicciotti Calls for State Treasuries to End Russian Investments

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Responding to the ongoing crisis in Ukraine, Washington State Treasurer Mike Pellicciotti today joined a bipartisan coalition of State Treasurers calling for all levels of government to end the practice of public investment into Russian holdings.

“Americans must unify to oppose the authoritarian regimes that violently attack our shared democratic institutions and economic stability with every financial tool at our disposal,” said Pellicciotti. “We as State Treasurers must ensure that public finances and the benefits they provide for working families and retirees are not at risk due to the whims of tyrants.”

Last year, Pellicciotti updated Washington state investment policies to ensure that investments managed by the Office of the State Treasurer (OST) underwent an environmental, social, and governance review which would reflect Washington values.

This review confirmed that of the approximately $32 billion investment portfolio managed by OST, none are connected with Russian assets.