State and local leaders outraged by Russia's invasion of Ukraine wield what power they have to inflict symbolic and economic pain, however small. Next, Maryland could sell off the pension system’s $100 million investment in Russian-linked entities.
“It would not only be financially unwise to maintain any assets tied to Russian entities, but it would continue to embolden a brutal dictator and the legion of oligarchs who have turned a blind eye to a regime defined by fear, violence, and anti-democratic values,” Franchot wrote.Maryland senators also sought to make a statement, including introducing a formal resolution encouraging residents to boycott Russian products.
“Vladimir Putin is a ruthless aggressor. The United States and the State of Maryland have a sovereign duty to stand up for democracy. The State of Maryland must use the tools at our disposal to support Ukraine,” Senator Hough said.Senate President Bill Ferguson endorsed swift action by state leaders.
“Certainly the people of Maryland stand with the people of the Ukraine,” he said. “It’s pretty horrific to see what is happening, truly a travesty beyond imagination almost.”
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