Republican Lawmaker Andrew Learned has shared a document that revealed what’s invested from Florida’s pension plan funds.
The document reports the state pension fund had lost $200,722,906.45 in assets invested in Russian companies over two months ago.
The loss was also exacerbated by sanctions globally imposed on the Russian country due to the invasion that President Vladimir Putin's administration was inflicting on Ukraine.
The state of Florida reportedly had $300 million invested in Russia-based companies before the war. Now over $200 million has been lost.
In a string of tweets, Republican Lawmaker Learned pointed out that the state increased its holdings in Russia.
This increase was made between June and December 2021, leading to Florida slashing two-thirds of this investment.
He highlighted how backing the Russian President Vladimir Putin made a massive mess for investments -- particularly those belonging to the state of Florida.
A MeidasTouch.com report on this whole debacle alleges how Governor Ron DeSantis refused to divest a total of $300 million earlier on while there was still some time.
Several states have been issued with orders to either divest assets in Russian-based entities or review and terminate state contracts with Russian firms.
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