How U.S. Money Ends Up in Russia – Rolling Stone

How U.S. Money Ends Up in Russia – Rolling Stone

The nation’s two biggest public pension funds — the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS) — together hold stock in sanctioned Russian companies worth nearly $715 million, according to their most recent annual filings.

Daniel Fried, a former U.S. ambassador to Poland, was stunned to learn of the scale of pension fund investments in companies he helped sanction as State Department coordinator for sanctions policy in the Obama administration.

3 public pension fund, holds nearly $30 million worth of shares in sanctioned Russian firms.

It includes tough penalties on Russian banks and energy companies and the so-called “nuclear option” of barring Americans from buying new issues of Russian sovereign debt.

Sberbank shows up on the list of the 50 biggest international stocks held by the New York City Board of Education Retirement System, which serves retired New York City educators, as well as the retirement portfolios of teachers in Ohio, Illinois and Kentucky, to name but a few.

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