North Dakota to dump state investments tied to Russia

FARGO, N.D. (KVRR) – The North Dakota State Investment Board has unanimously voted to jettison state investments with ties to Russia.

State Investment Officer Scott Anderson told the board that as of Thursday March 3, North Dakota had approximately $10 million in investments with “Russian entity exposure.”  Anderson said that figure had already been reduced by approximately $5.9 million since Feb. 28.

The divestiture won’t happen overnight.  Board member Troy Seibel said “it’s not as easy as clicking the ‘sell’ button.”

The investments were purchased on the secondary market, not directly from the Russian government.

The Russia-linked investments are held in the state pension pool, insurance pool and the Legacy Fund.