PA Lawmakers Clamp Down on Russian Business

The Russian invasion of Ukraine is spurring Pennsylvania lawmakers to draft legislation to require the state Treasury Department and the state’s three public pension funds to divest holdings connected to Russia. Meanwhile, the state Treasury Department said it began divesting its holdings in all “Russian-based companies” last week. It described the holdings as “minimal” and expected to finish the process by Monday’s end. Divestiture legislation was being drafted Monday in the House by Majority Leader Kerry Benninghoff, R-Centre, and in the Senate by state Sen. Sharif Street, D-Philadelphia.