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Nearly Half of California Legislature Signs Urgent Bill to Divest State Funds from Russia

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The following is a press release issued by the Office of California State Senator Mike McGuire

Ukrainian tanks roll into position [Picture from the Ukrainian National Guard Twitter account]

Since announcing plans Monday to introduce legislation to divest state public funds from Russia and Russian-state entities following the unprovoked war against Ukraine, an overwhelming show of support has poured in resulting in nearly half of all legislators in California signing on to coauthor the bill. 

SB 1328 requires public pensions systems – including the two largest in America, STRS and PERS – to divest from Russian and Belarusian assets and companies. 

“The State of California has incredible economic power and strength and we must use this clout for good. The people of California will not stand idly by while an autocratic thug attacks the innocent people of Ukraine and attempts to destroy their country,” Senate Majority Leader Mike McGuire said. “Democrats and Republicans alike are working together on SB 1328. The Golden State stands strong for Ukraine and we’ll do everything in our power to usher in debilitating economic consequences on Russia for this horrific and bloody war.”

California is the world’s fifth largest economy and enhanced action taken by the State can help the people of Ukraine by putting additional financial pressure on the already beaten-up Russian economy.

It’s believed California has Russian investments approaching $2 billion, primarily in its pension funds. At this point there can be no excuse to invest in and support Putin, his oligarchs, and the Russian economy. 

Russia’s economy, not even in the top 10 of world economies, is one of their big pressure points, and California should use its power to exert influence where it can.

“The free world has a moral obligation to help the people of Ukraine. This creates a legal one as well. By requiring California’s capital to divest from Russian assets, we can play a real role in helping defend democracy internationally,” said SB 1328 Coauthor Assemblymember Chad Mayes.

SB 1328 also asks private companies based in California to divest their investments in the Russian economy. In addition, the legislation would block the awarding of state contracts to any company that is conducting business with Russia.

The legislation, with 57 co-authors (and growing), can be found here.

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6 COMMENTS

  1. First off we are not a democracy, we are a corporate state. Russia and Ukraine are both being used in our struggle to control LPG supplies to NATO countries. Russia wants Germany to use their less expensive LPG we like our monopoly. America starts most wars because we are a war economy. Just like divorce there are always two sides to every story. What next? We force China and Russia into creating a world alternitive to the US dollar and the dollar goes by by just like German Mark in early 1930. TheDonald can then become America’s savior just like Adolph did.

  2. I would never support any act of war or aggression, but for someone to say that the Russians have been totally unprovoked is either totally clueless or just lying. Russia was promised that NATO would not expand east, that has not happened. Whatever the truth is, we in the west are not getting it. Look at all these virtue signaling politicians that have always voted in favor of US wars of aggression! Ha! Some of us still remember our history, especially living in the US. Remove the log out of your own eye before you point out the sliver in someone else’s. What’s with the neo-Nazi’s in eastern Ukraine???? Why would anyone support any group that aligns with Nazi ideology??? Why would anyone believe that the Russians would destroy nuclear reactors in Ukraine when the prevailing winds are predominantly blowing to the east into Russia????? Good luck trying to figure out the situation in Ukraine. One thing we have all learned from the COVID experience is that we now know without a doubt who we cannot trust, US corporate media and US politicians.

      • “The date February 9, 1990 will be forever remembered among historians as a ‘day of infamy’ as far as NATO-Russia relations are concerned. That was the date when U.S. Secretary of State James Baker famously assured Soviet leader Mikhail Gorbachev, during talks on German unification that the Western military bloc would not advance “one inch eastward” towards Russia’s borders.”

        I’m not in support of Russia or their leadership, the US has been selling weapons to Ukraine for years, along with engaging in military exercises on the Russia Ukraine border. What would Americans say if Russia was arming Canada and Mexico???? Running drills on our northern and southern borders???? There are always two sides to every story, not saying that there isn’t any propaganda coming out of Russia but you have to admit that the west/US is doing the exact same thing. Russian vilification has been going on for decades. Is this justified??? I really don’t know, I’ve never been to Russia and know very little about their people and culture. What I do know for sure is that the US/western media cannot be trusted.

      • First, an “assurance” from appointed officials that are only around 4-8 years is hardly a promise, that would be in writing. If they believed that I got a bridge to sell the russians. The NATO directive has changed drastically in 30yrs. At that time it was about countering the Warsaw Pact…and “democratizing” the east, subsequently it’s been about consuming Soviet satellite states and has been for 20yrs. I have been to Russia and yes their vilification is warranted.

  3. January sixth we moved out on the streets chasing the runaway American dream
    We pushed our way past the barricades where no riot squad was seen
    Stole pages from Boston Tea Party time
    Cause the vote we rejected pushed us all over the line
    Qanon’s in town to turn the nation back
    Because its pure crap, a corporate trap
    Draining the swamp has begun
    Cause Trump loves us The Donald he was born to run

    Donald called us in he wants to be our friend
    to fullfill our dreams and visions
    Wrap our heads around his endless Tweets
    and clamp our hands on some emblems
    Together we could break this trap
    But we ran from the cops and not look back
    When Donald would’nt walk to the wire
    As his Twitter account will soon expire
    Now we’re gonna learn how it feels
    To lose our rights and sleep without meals

    Around the capitol F-150 trucks scream up the bolevard
    We our selfi sticks we love to share our pics
    ans show the world we’re oh so hard
    Like a circus park our leaders huddle with their panties in a twist
    Only five will die but the battle cry is “white boy you don’t exist”
    Cause Trump loves us but maybe it is time to run

    The hallways jammed with comic heros in a last ditch power grab
    Together Donald we can live with you madness untill we lose our own badness
    That keeps the poor man low
    Soon you’ll have your monster wall with towers and an orange suit
    and you won’t play when your allowed in the sun
    Trump lost us now is is our time to run
    Douglas Wayne Coulter Jan 2021

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Matt LaFever
Matt LaFeverhttps://mendofever.com/
I like to think of myself as a journalist for the everyman. Journalism has become a craft practiced largely by the urban elite. It’s time to take it back. I have been an Emerald Triangle resident since 2006 and this is year ten in Mendocino County. Please, email me at matthewplafever@gmail.com if you know a story that needs to be told.

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