The move comes as state lawmakers consider a bill to bar public entities in New Jersey from doing business with the Russian government and companies with ties to it.
The move is New Jersey’s latest step to impose sanctions on Russia at the state level as the U.S. and other countries impose tough economic penalties on the country over the invasion.
As of Oct. 31, New Jersey’s pension fund had at least $226.6 million tied up in Russian equities and an additional $21.4 million in Belarus, according to the most recent data from the state division of investments. Sarlo, D-Bergen, said New Jersey would be the first step to take such a step. A big goal, he said, is to stop Russian oligarchs from winning incentives for real estate developments in New Jersey.
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