Russia blocks NY pension systems from dumping $300M in Moscow stocks

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Russia blocks NY pension systems from dumping $300M in Moscow stocks
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New York’s pension systems want to dump nearly $300 million invested in the Moscow stock market, but can’t.

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New York’s pension systems want to dump nearly $300 million invested in the Moscow stock market, but can’t because Russia has blocked foreigners from selling shares.

“A vicious and unjust war continues to be waged on Ukraine, driving deaths, destruction and displacement of civilians. New Yorkers remain steadfast in solidarity with Ukrainians here in our city and abroad,” city comptroller Brad Lander, who oversees the pension systems, said in a statement. Of the city’s money locked into Russian companies, the Teachers Retirement System holds the most – $90 million, followed by the Police Pension Fund ; NYCERS, whose members include correction, clerical and sanitation workers ; the NYC Fire Pension Fund ; and the Board of Education Retirement System, .

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