In a special board meeting on Monday, the Arizona Board of Regents instructed the presidents of Arizona’s public universities to exit any investments in Russian assets as quickly as possible. The board also instructed the board’s executive director to exclude Russian assets from the board’s retirement plan.
“The Arizona Board of Regents condemns in the strongest possible terms Vladimir Putin’s illegal invasion of the sovereign nation of Ukraine and apparent targeting of civilian populations, with one million refugees already in its wake,” said ABOR Chair Lyndel Manson. “With today’s action, the board repudiates Putin’s aggression and ensures Arizona’s public university enterprise divests of any Russian assets.”
The presidents reported to the board that they have halted or redirected any programmatic engagements their universities have with Russia. They also reported university foundations are eliminating or redirecting any investments in Russian assets.
“As this humanitarian tragedy and assault on democracy continues to unfold, it is vital we understand the totality of our engagement in Russia so we can take any appropriate and necessary action,” said Regent Larry E. Penley.