COLUMBUS – Governor Mike DeWine says the state government of Ohio has no contracts with Russian businesses now and will not have any in the foreseeable future.
“I want to assure Ohioans that our state has no contracts with Russian businesses now, and will not have any contracts for goods and services going forward. We will not support Russia with Ohio taxpayer dollars,” he said in a statement released Wednesday by his office.
DeWine and Attorney General Dave Yost are urging the state’s five public employee retirement funds divest themselves of Russian financial holdings to punish Russia over its invasion of Ukraine.
“Ohioans stand with the people of Ukraine and all of the freedom-loving people of the world against this unprovoked and unconscionable invasion that has led to so much suffering and destruction,” DeWine said.
Yost says the nonbinding move is to punish Russia over its invasion of Ukraine but he also points out that Russian assets are likely to devalue, given the country’s growing isolation, and widespread bankruptcies could affect the pension funds.
DeWine also called for the state insurance fund for injured workers to divest itself of Russian assets.
Russia’s invasion of Ukraine has thrown business plans into disarray and forced a growing number of the world’s best-known brands to pull out of a country that’s become a global outcast.
Auto shipments stopped, beer stopped flowing, cargo ships dropped port calls and oil companies cut their pipelines.
Investors have been drawn to Russia in search of lucrative profits they thought were worth the risks but that calculation has changed after Russia’s invasion.
A second round of talks aimed at ending the fighting is expected Thursday between Ukraine and Russia.
The U.N. refugee agency says 1 million people have fled Ukraine since Russia invaded the country a week ago, setting off the swiftest exodus of refugees this century.
Britain’s Ministry of Defense says that a Russian military column heading for Kyiv has made “little discernible progress” over the past three days and remains over 19 miles from the center of the city, delayed by Ukrainian resistance, mechanical breakdowns and congestion.