Oregon has $122 million invested in Russia. Will it join other states in divesting?

PORTLAND, Ore. (KGW) — The Russian invasion of Ukraine has spurred governors in states across the country to divest holdings connected to Russia.

The Oregon State Treasury holds roughly $122 million in Russian assets including bonds, public equity and currency, according to the state agency.

“We support the people of Ukraine. I’ve asked my team to fully evaluate the portfolio’s exposure to investments in Russia and to identify our options as institutional investors,” said state Treasurer Tobias Read in a statement to KGW.

A list of holdings comprising Oregon’s Public Employee Retirement System (PERS) assets showed the state has $36 million invested in the Russian Federation and Russian Government Bonds. As of June 2021, the state also had $28 million invested in Sberbank of Russia, a state-owned bank in Russia. Oregon’s pension fund was also invested in Gazprom, a Russian state-owned energy company and Mosenergo, a Russian power generating company.

The Oregon State Treasury’s overall portfolio is worth more than $135 billion.