As the Russian invasion of Ukraine continues, Missouri Treasurer Scott Fitzpatrick has requested an emergency MOSERS meeting to discuss involvement and potential divestment of Russian holdings.
MOSERS, the Missouri State Employees’ Retirement System, holds about $13 million in Russian securities within funds worth more than $1 billion as part of its Global Emerging Markets allocation, according to the Treasurer’s Office.
“Vladimir Putin is a madman, and it’s time for the world to cut him off. In Missouri, that starts with MOSERS,” Fitzpatrick, a Republican, said. “When he is isolated and alone, Ukrainians and Russians will have their countries back. Missouri stands with the Ukrainian people.”
“I’m calling on all other Missouri pension plans to follow suit in ensuring no public funds are used to help prop up the Russian economy as long as these atrocities continue,” Fitzpatrick continued.
The move comes as the U.S. and several other counties have imposed sanctions on Russia as it has invaded Ukraine. Oil companies Shell and BP also recently announced divestment plans from Russian groups.
Fitzpatrick sent his letter to MOSER executive director Ronda Stegmann Monday.