Missouri Democrat wants state to cut financial ties to Russia over hacking scandal

With President-elect Donald Trump conceding last week that Russian operatives carried out cyber attacks in the U.S. during the presidential election, a Democratic state senator thinks it’s time for the state to cut all investments with the Russia.

Missouri Sen. Maria Chappelle-Nadal, a University City Democrat, filed a bill Wednesday that would prohibit state and local government agencies from contracting with or investing in individuals, partnerships, corporations or other organizations doing business with Russia.

She pointed to data from the Joint Committee of Public Employee Retirement to show the state employee retirement system has about $15 million invested in Russia. Another $2.7 million is invested in Russian stock holdings by the University of Missouri retirement system.

“Missouri taxpayers should not be forced to send their hard-earned dollars to a country that undermines and attacks America,” Chappelle-Nadal said.

State Treasurer Eric Schmitt pledged during the campaign last year to block any state investment dollars from going to companies that conduct business with countries designated as “state sponsors of terrorism” by the U.S. Department of State.

Chappelle-Nadal’s legislation would apply only to public investments and would not have any impact on private businesses.

Reached for comment on Chappelle-Nadal’s legislation, Schmitt’s spokesman said the treasurer is “focused on strictly enforcing our state’s long-standing terror-free investment policy which is guided by the Department of State’s list of designated state sponsors of terrorism.”

This story was originally published January 18, 2017 at 3:12 PM with the headline "Missouri Democrat wants state to cut financial ties to Russia over hacking scandal."