As other investors leave Russia, Alaska has no plans to sell its $210 million in assets.
State law and policy requires the Alaska Permanent Fund Corp. to make decisions based only on financial gain or loss. Corporation board chairman Craig Richards said divesting from Russia for political reasons would likely require an act of the Alaska Legislature, an executive order from Gov. Mike Dunleavy, or a regulatory change by the Alaska Department of Revenue.
“So I think the board looks for direction on these types of issues to those that are policymakers,” he said. Legislators in several states, including Georgia and Pennsylvania, introduced divestment legislation on Monday, according to the Associated Press. The governors of Washington, Colorado and New York issued executive orders requiring divestment.
Senate Minority Leader Tom Begich, D-Anchorage, said he believes the state is required to divest, based on the language ofGiven the threats of Russian President Vladimir PutinDunleavy announced no action on Monday, and an official said none was planned.
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