top of page

TCC Letter: Thanking Comptroller Hegar for Planning to Divest Holdings with Ties to Russia

The Honorable Glenn Hegar

Texas Comptroller of Public Accounts

P.O. Box 13528, Capitol Station Austin, Texas 78711-3528

March 11, 2022

Dear Comptroller Hegar,

We write to express our unreserved support for your decision to review all state contracts, procurements, investments, and endowments in order to divest from holdings with ties to Russia or Russian nationals.

The Russian state has orchestrated an unconscionable and unprovoked military assault on Ukraine, brutally targeting civilians, as well as critical infrastructure including nuclear power plants, air and sea ports, and even residential buildings. It is incumbent on all of us who cherish freedom, individual rights, and the rule of law to do whatever is in our power to punish Russia for its actions and to support the Ukrainians as they bravely attempt to repel Vladimir Putin’s forces.

As you have correctly recognized, continuing to treat Russia and Russian companies as legitimate economic partners would ignore the reality that faces us all. As The Wall Street Journal editorialized recently:

The fall of Soviet communism in Europe and China’s economic development tempted many to think the West would only face opponents like us—motivated by economic self-interest and ready to make a deal. For years those rivals have told us they have other plans, and told us what they are willing to do. Mr. Putin is demonstrating that it’s time to stop lying to our ourselves about the mission of the deadly serious men who run these threatening regimes.

At a state government level, one of the most important things that we can do is to ensure that we are not partnering with Russian companies through our state contracts or investments. We thank you sincerely for the actions that you are taking to divest any state holdings with ties to Russia, and we stand ready to support your actions with legislation if necessary. Please let us know how we may be of assistance to you in these efforts.

Thank you for your strong leadership and for your service to the state of Texas.

View Signees by downloading the letter below.

TCC Russia Divestment Letter Hegar
Download PDF • 855KB


bottom of page