Georgia State GOP Leaders Aim To Cut Investments In Russian Assets

Georgia Recorder

February 28, 2022

Top Georgia Republican officials condemned the Russian invasion of Ukraine and pledged to divest any taxpayer money benefiting Russia within the state’s retirement systems.

“Last week, our office began reviewing and taking actions to ensure Georgia taxpayer dollars are not being used to subsidize Russia,” Katie Byrd, spokeswoman for Gov. Brian Kemp, said in a statement.

One investment agreement has been identified so far, but Byrd did not provide details about the agreement, including the amount of money involved. She said the state would be fully divested by mid-week.

Americans woke up last Thursday to learn Russia had invaded parts of Ukraine in what Russian President Vladimir Putin called a “special military operation.” The invasion has been roundly condemned under the Gold Dome, even as at least one far-right Georgia politician, Congresswoman Marjorie Taylor Greene, spoke at a white nationalist conference Friday where the crowd chanted Putin’s name.

“It’s interesting to note that even Russia’s own citizens have turned against their government’s incursion, protesting in the streets and being detained as a result of their protest and not cheering on this senseless barbaric violence,” House Speaker David Ralston, a Blue Ridge Republican, said to the chamber Monday.

Ralston received a bipartisan standing ovation Monday when he announced House budget analysts were exploring whether Georgia holds any investments in Russian equities or other investments through its retirement systems.

“I don’t know about y’all, but I don’t want one penny of a Georgian’s money going to subsidize Vladimir Putin,” Ralston said. “While our role in international affairs is limited, we make clear that our people stand with those who want to live in peace.”

Republican Lt. Gov. Geoff Duncan called Putin a brutal dictator.

“I call on this country, I call on this state, I call on these chambers to stand in support of the Ukrainian people as they fight for freedom,” Duncan said.

Georgia will also play a role in the country’s response. President Joe Biden announced last week that 7,000 American troops will deploy to Europe, many of them coming from Fort Stewart’s 1st Armored Brigade Combat Team, 3rd Infantry Division, in southeast Georgia.

“These young men and women are now in harm’s way, and this is a time we all must come together and support this effort,” said Rep. Al Williams, a Midway Democrat.

“Regardless of political affiliation, this is now an American question: Do we, the builders of the greatest democracy in the history of the world, stand for what we have spoken about for many generations,” Williams said.

Rep. Angelika Kausche, a Johns Creek Democrat who grew up in West Germany during the Cold War, said the Russian invasion has hit home for her another way.

“When I talk to friends and family in Germany, they are more than concerned – they’re scared. They talk about World War III and that includes the possibility of a nuclear war,” Kausche told her colleagues Monday. “We need to rein in Russian autocratic aggression sooner rather than later for the sake of all of us because our freedom depends on it.”

Georgia Recorder Senior Reporter Stanley Dunlap contributed to this report.

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