Gov. Gianforte Formally Launches Process to Divest Russian Assets

• March 02 2022

HELENA, Mont. – Governor Greg Gianforte today formally launched the process of divesting Russian assets held by the State of Montana. 

In a memo to all state agency directors, the governor cited Vladimir Putin’s “vicious war against the sovereign, democratic Ukraine,” Ukrainians courageous defense of their country, and recent international sanctions imposed on Russia. 

The governor wrote, “While I have spoken with many of you informally, I write today to formally request you conduct a swift, thorough review of assets and operations that may benefit the Russian government, its supporters, and any institutions aiding Russia in its war against Ukraine.” 

“With the collapsing Russian economy and the crashing ruble,” the governor continued, “I ask all state agencies and appropriate boards to review investments and quickly identify assets connected to the Russian government, its supporters, and any institutions aiding Russia in its war against Ukraine.” 

Working with the governor’s office, the Montana Board of Investments to date has identified approximately $15 million in assets tied to Russian interests, which the board is currently in the process of divesting. 

The governor concluded, “The State of Montana will not support Russia’s war against Ukraine through our assets or operations. We will do all we can to remove any benefit that supports or advances Russia’s vicious war machine. Montana stands with Ukraine.” 

Gov. Gianforte’s full memo can be found here. 

###