{"id":136957,"date":"2022-03-01T22:45:59","date_gmt":"2022-03-02T06:45:59","guid":{"rendered":"http:\/\/new.thepinetree.net\/?p=136957"},"modified":"2022-03-01T22:45:59","modified_gmt":"2022-03-02T06:45:59","slug":"governor-newsom-calls-for-state-sanctions-on-russia","status":"publish","type":"post","link":"https:\/\/new.thepinetree.net\/?p=136957","title":{"rendered":"Governor Newsom Calls for State Sanctions on Russia"},"content":{"rendered":"<p>Sacramento, CA&#8230;.Moving to support the Ukrainian people and protect the interests of Californians, Governor Gavin Newsom today <a href=\"https:\/\/www.gov.ca.gov\/wp-content\/uploads\/2022\/03\/2.28.22-Investments-Letter.pdf\">sent a letter<\/a>\u00a0to the leaders of the California Public Employees\u2019 Retirement System (CalPERS), California State Teachers\u2019 Retirement System (CalSTRS) and the University of California retirement system calling for the state to leverage its sizeable global investment portfolio to sanction the Russian government.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/dailytide.com\/wp-content\/uploads\/2020\/12\/cagov.jpg\" alt=\"\" width=\"225\" height=\"218\" class=\"alignnone size-full wp-image-7257\" \/><\/p>\n<p class=\"xmsonospacing\">\u201cRussia\u2019s brazen and lawless military assault on Ukraine demands our support for the Ukrainian people and exacting an immediate and severe cost upon the Russian government,\u201d the Governor wrote. \u201cThe California Constitution is explicit in the fiduciary duties that are required of us on behalf of the hundreds of thousands of Californians who have invested in these systems. These fiduciary obligations and our moral imperative before these atrocities demand that you act to address Russia\u2019s aggressions and immediately restrict Russian access to California\u2019s capital and investments.\u201d<\/p>\n<p class=\"xmsonospacing\">The combined assets of CalPERS, CalSTRS and the UC retirement system amount to $970 billion \u2013 equivalent to 60 percent of Russia\u2019s gross domestic product last year. Over $1.5 billion of these California investments are held in a various financial instruments linked to Russia\u2019s financial markets.<\/p>\n<p class=\"xmsonospacing\">The Governor called for the funds to halt the flow of money from the state to Russia, ban the purchase of Russian debt and conduct an assessment to ensure their actions protect the interests of current and future retirees. The Governor also requested recommendations from CalPERS, CalSTRS and the UC on additional measures that can be implemented to protect the state\u2019s investments amid global financial sanctions on Russia.<\/p>\n<p class=\"xmsonormal\">A copy of the letter can be found\u00a0<a href=\"https:\/\/www.gov.ca.gov\/wp-content\/uploads\/2022\/03\/2.28.22-Investments-Letter.pdf\">here<\/a>.<\/p>\n<p dir=\"ltr\">###<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sacramento, CA&#8230;.Moving to support the Ukrainian people and protect the interests of Californians, Governor Gavin Newsom today sent a letter\u00a0to the leaders of the California Public Employees\u2019 Retirement System (CalPERS), California State Teachers\u2019 Retirement System (CalSTRS) and the University of California retirement system calling for the state to leverage its sizeable global investment portfolio to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":97806,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_cbd_carousel_blocks":"[]","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[20,5,1],"tags":[],"class_list":["post-136957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-government","category-news","last_archivepost"],"jetpack_featured_media_url":"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2020\/03\/CaGov-seal.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/136957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=136957"}],"version-history":[{"count":1,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/136957\/revisions"}],"predecessor-version":[{"id":136958,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/136957\/revisions\/136958"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/media\/97806"}],"wp:attachment":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=136957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=136957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=136957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}