Both measures are designed to punish Russia for its invasion of Ukraine.
The bill and executive order came the day after Ohio Attorney General Dave Yost asked the pension funds to divest Russian assets.
“By requiring the state to cut all ties with Russia, we are doing our part to increase the financial strain on Russia,” Antani told the AP.
Antani’s bill contains an emergency clause so it would take effect immediately if signed into law.
DeWine’s executive order states that:
All state agencies, boards and commissions, state educational institutions and pension funds, to the extent practical, must divest any investment in and terminate contracts with a Russian institution or company.
All state agency procurement officers have specific standard contract language that prohibits the purchase of services from or investments in Russian institutions or companies and that all quotations, statements of work and other proposals for services affirm they are in compliance with this order. Thisis in addition to a 2019 executive order that prohibits the purchase of offshore services by the state of Ohio.
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