The Russian stock market has been closed since the invasion of Ukraine. Revenue Commissioner Lucinda Mahoney Mahoney says the state plans to sell its Russian assets when it can.
Commissioner of the Department of Revenue Lucinda Mahoney talks about the declining value of the state government’s Russian assets as Gov. Mike Dunleavy listens on Tuesday in the Capitol.
Revenue Commissioner Lucinda Mahoney said the value of state-held Russian stocks, bonds and other investments has declined from $267 million at the end of last year to a current estimate of no more than $15 million. “We believe that the financial conditions in Russia have and will continue to deteriorate, such that it makes it prudent to sell these securities and bonds,” she said at a news conference.
Dunleavy repeated his call last week for a series of steps aimed at punishing Russia. He also continued to criticize the Biden Administration for its handling of several proposed oil, gas and mining projects.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russia-Ukraine war: Russian military commander POW claims forces were told 'Nazis' had overtaken UkraineA Russian military commander and prisoner of war said he and his forces were led to believe they were invading the country because 'nationalists, Nazis have seized power.'
Read more »
Russia-Ukraine: Zelenskyy urges global boycott of Russian products if war continues: LIVE UPDATESUkraine President Volodymyr Zelenskyy, in an Instagram post Monday, is calling for 'new sanction steps against the war, for the sake of peace' if Russia continues its ongoing military action in Ukraine.
Read more »
Russia warns oil could hit $300 a barrel if US, EU cut off Russian oilRussia warns oil prices could hit $300 a barrel if the US and Europe reject Russian oil, says the move would have 'catastrophic consequences'
Read more »
Russia-Ukraine War: Day 14 has more fighting after U.S. bans Russian oilUkraine's president says he's open to talks with Russia, but still wants a no fly zone. U.S. and allies say they'll use less Russian oil.
Read more »
Russia-Ukraine war: Russian Defense Ministry admits use of conscripts in invasion, despite Putin's denialsRussian military defenses consist of conscripts despite Putin's insistence that the Kremlin military is only professional fighters.
Read more »