Members of the Senate Democrats sent two separate letters to Governor Mike Dunleavy and Permanent Fund Board Chair Craig Richards requesting immediate divestment of state resources from Russian state-owned companies or the Russian government. This includes a review of all state contracts to ensure Alaska doesn’t do business with Russian state-owned companies and $162 million in the Permanent Fund – which incorporates 0.2% of total assets under management.
Democratic Sen. Bill Wielechowski (Anchorage) said:
“Alaska should stand with the people of Ukraine and join the numerous other countries, states and businesses that are divesting from investments in Russia. By divesting our assets, we send a message to Putin and the rest of the world that we will not support Russia’s attempt to overthrow a sovereign country.”
Since Russia invaded Ukraine on February 24, 2022, countries around the world implemented sanctions on or divested assets away from Russia. On February 27, 2022, Russian President Vladimir Putin put nuclear forces in Russia on high alert. The Alaska Senate Democrats believe, under Alaska Statutes 44.99.120 and 44.99.125, that the state is required to take action to reduce the risk of nuclear war. In 2009, the Permanent Fund Corporation divested assets from Sudan for its genocide campaign in Darfur.
Democratic Sen. Tom Begich (Anchorage) said:
“Russia’s actions have put most of the world on alert. The threat of nuclear war in Europe is far too real for Alaska to sit by and do nothing. Alaska has a role to play, and we can do that through removing all investments from Russia. It is just one small piece of the puzzle to oppose Putin’s destabilization of eastern Europe.”
A copy of the letter to Governor Mike Dunleavy can be found here. A copy of the letter to the Permanent Fund Corporation can be found here.