New York’s pension systems want to dump nearly $300 million invested in
the Moscow stock market, but can’t because Russia has blocked foreigners
from selling shares.
Since Russia began its invasion and brutal attacks on Ukraine, the
trustees of all five NYC employee pension systems have voted to divest
from $185.9 million in Russian companies and securities.
Of the city’s money locked into Russian companies, the Teachers
Retirement System holds the most – $90 million, followed by the Police
Pension Fund ($42.2million); NYCERS, whose members include correction,
clerical and sanitation workers ($31.1 million); the NYC Fire Pension
Fund ($19.5 million); and the Board of Education Retirement System,
($3.1 million).
But Russia has stymied the New York pension systems and others across
the country which want to divest. Moscow closed its stock market to
foreigners on Feb. 25 – a hard-ball move seen as retaliation for a US
and European freeze on Russian central bank assets.
https://www.foxbusiness.com/politics/russia-blocks-ny-pension-systems-from-dumping-300m-in-moscow-stocks