,Lib Dems demand Cardiff Council removes Russian investments

Lib Dems demand Cardiff Council removes Russian investments

Following the horrific news of Russia invading Ukraine, Local Liberal Democrat Councillor Rhys Taylor has written to Cardiff Council to ask that it’s pension fund sell any shares it may hold in companies that have invested in Russia.

“Like so many other local people, I am sickened by what is happening on the streets of Ukraine and our own pension fund should make its feelings clear by divesting any assets it holds in companies with Russian investments.

“I believe our council’s pension fund should also take a stand, and if it does hold any shares in Russian companies – or those who have invested in Russia - to divest without delay.

“Others have taken action – the Church of England is divesting its £20 million in shareholdings in Russian companies and BP is selling its 19.75% stake in Russian oil giant Rosneft, and Shell is divesting from Gazprom. I encourage local government pension schemes to divest any shares they hold”.

Leader of the Welsh Liberal Democrats, Jane Dodds MS added:

"Vladimir Putin must pay a terrible price for his entirely unprovoked decision to invade Ukraine. We must stand with the people of Ukraine, and enact the most punitive of severe sanctions upon the Russian regime.

“It’s time to end the era of Russian interference in this country. Welsh companies, public bodies and pension funds should be looking closely at their financial links to Russia and doing the right thing.”

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