The Arizona Board of Regents this week ordered the presidents of the state’s three public universities to sell any Russian investments they hold as quickly as possible because of the unprovoked war it is waging against Ukraine.
ABOR oversees Northern Arizona University, Arizona State University and the University of Arizona.
In a statement, the board said it condemned “in the strongest possible terms Vladimir Putin’s illegal invasion of the sovereign nation of Ukraine and apparent targeting of civilian populations.”
Presidents of the three schools told ABOR they have halted programs their schools have with universities in Russia and their foundations are selling any Russian assets they hold.
NAU’s foundation has about 40 percent of its assets in non-U.S. stocks, but just .01 percent of those were in Russian firms. The ASU Foundation has about .05 percent, and the U of A’s foundation has $25 million in emerging market funds, of which 6 percent is invested in Russia.
Colleges across the U.S. are pulling students from study abroad programs in Russia, ending research partnerships and cutting financial ties to condemn the invasion of Ukraine.
At the same time, colleges have promised to support Russian students on their campuses, opposing calls from some in Congress to remove them from the country.
The moves are mostly symbolic, and U.S. colleges have little power to sway Russia or squeeze its finances.