The leader of Leicestershire County Councils says he wants to cut financial links with Russia so that the council can “play our part, however small”, in bringing pressure on Vladimir Putin’s regime.
Council Nick Rushton has asked officers to review its contracts and pension fund investments to see what changes can be made.
So far the review has shown that that around £10 million of its pension pot – 0.15 per cent of the total fund – is invested with Russian companies.
Coun Rushton's call follows the international sanctions being imposed on Russia for the invasion of Ukraine and shelling of cities and civilian areas.
Russian forces have continued their bombardment of Ukraine’s towns and cities despite the announcement of limited local ceasefires. Previous attempts to create humanitarian corridors have ended with civilians being shelled as they tried to flee to safety.
Coun Rushton said: “Western governments are tightening the economic stranglehold on Putin’s regime with sanctions and we want to do our part to force him to end the appalling violence and destruction he has unleashed on Ukraine.
“That’s why I asked for all county council contracts to be reviewed, our pension investments examined, and our purchasing looked at so we can extract ourselves from the Russian economy and play our part, however small, in bringing further pressure to bear on the Russia’s government.
“I’m pleased the council’s connections to Russia are very small indeed.
“We don’t lend money to Russian banks, and never have.
“I want us to do all we can to bring further pressure to bear where we are able have some influence.
“That includes working, as quickly as we can with other local authorities, to remove the exposure we have through the pension fund.
“I urge all local authorities, public bodies and businesses in the county to take urgent action to review any interests they may have in Russia.
“It’s the right and moral thing to do."
The council said that Coun Rushton and deputy council leader Coun Deborah Taylor had already called for Leicestershire to be ready to do “absolutely everything it can” to offer safe refuge to Ukrainians who have been forced to flee the Russian military assaults.
The UN has said more than a million Ukrainians have fled the violence in their country so far.
The Home Office has been under pressure to do more to help after it revealed on Sunday that only “around 50” visas had been issued under the Ukraine Family Scheme as of 10am that morning.
Meanwhile concerns have been raised by some charities that aid shipments for Ukraine are being delayed from leaving the UK due to post-Brexit customs rules which some say are confusing and unclear.
