ANDREW CUTLER
Publisher/Editor
KATHRYN B. BROWN
Owner
ERICK PETERSON
Hermiston Editor/Senior Reporter
SATuRdAy, MARCH 19, 2022
A4
Founded October 16, 1875
OUR VIEW
Why was
it prudent
for Oregon
to invest in
Russia?
W
hen Russia invaded
Ukraine, the state of Oregon
was an investor in Russia.
Oregon investments to earn money
for the state’s public employees retire-
ment fund had millions in Russian
government bonds; Russian Federation
bonds; Sberbank, the largest, Russian
state-owned bank; Gazprom, the
Russian state-owned energy company;
and Mosenergo, a Russian power
generating company.
The total was about $137 million.
And Oregon can’t get the money out.
State Treasurer Tobias Read
announced on March 3 that Oregon
would dispose of money. It has not
been able to, his staff told us.
The situation is effectively that the
state can’t sell, likely couldn’t find a
buyer and would only get pennies on
any dollar if it could sell and find a
buyer. The Moscow Exchange was shut
down. The ruble has plummeted in
value.
“One of the big issues is that while
we do have holdings included on the
sanctions list, the market for selling
them is effectively closed – in some
cases, no one could buy them from us
even if they wanted to,” said Rachel
Wray, the public information director
for the Oregon Treasury Department.
“In addition, Russian authorities have
taken separate actions that have raised
barriers to potential transactions.”
It seems time to rethink Oregon’s
state investment policy. State law says
Oregon should “make the moneys as
productive as possible” and “invest-
ment funds shall be invested and the
investments of those funds managed
as a prudent investor would do.” That
apparently has been interpreted to
mean investing in Russia is just fine,
despite that it is led by an autocratic
leader and has a recent history of
aggression.
A few lowlights:
In 2007, Russia planted a flag in the
seabed of the North Pole asserting a
claim to billions in oil. It also launched
a cyber attack against Estonia.
In 2008, Russia supported sepa-
ratist movements in Georgia. It later
deployed tanks in Georgia claiming it
was there to keep the peace. More than
2,000 people were killed.
In 2014, Russia invaded Crimea.
Crimea surrendered essentially with-
out a shot. It’s now effectively part of
Russia.
Even with that history, Oregon has
investments that support the Russian
state. They may have been excellent
investments for those whose minds
are only full of dreams of avarice.
But where the state of Oregon puts its
money is a statement of values. And in
your name, as a “prudent investor” the
state put its money in Russia.
Where are the leaders calling for a
reevaluation of state investment policy?
We hear crickets.
YOUR VIEWS
Support Christine
Drazan for governor
I recently became a supporter of
Christine Drazan after meeting her at a
meet and greet sponsored by state Rep.
Bobby Levy. Christine impressed me by
her commitment to service, her willing-
ness to stand up for Oregonians and her
natural leadership abilities.
Christine is a fighter. As the House
Republican Leader, she stood up to Kate
Brown and Tina Kotek and won. She led
a unified caucus to oppose tax increases,
stop cap-and-trade in its tracks and
protect our rights and freedoms.
Christine understands the challenges
we face and how to fix them. She is the
only candidate in this race with the expe-
rience to start putting our state back on
the right track on day one.
As governor:
Christine will end Kate Brown’s state
of emergency and repeal her mask and
vaccine mandates on her first day in
office.
She will repeal Kate Brown’s uncon-
stitutional cap-and-trade program.
Christine will support our police offi-
cers and hold criminals fully accountable
for their crimes.
She will keep our schools open full
time and in person, get back to the basics
in the classroom, give parents a forum to
be heard and leave the politics at home
where it belongs.
She will lead efforts to cut taxes, get
the government off the backs of our small
businesses and make Oregon a more
affordable place to live and raise a family.
Here’s the good news: We have a
unique opportunity in this election to
bring real change to our state.
Debbie Radie
Irrigon
Aggression in
Ukraine serves no one
Ukraine is at an unattainable position
— invaded by a very large world power
and being pounded by rockets, missiles
and air bombardment, this small coun-
try of courageous people is forced to the
negotiation table with a cruel adversary.
How can they sit across from a murder-
ous mob and talk about a fair settlement
of the dispute while their country is
being destroyed from every direction?
“Commit to never join NATO, elim-
inate your constitution, accept the annex-
ation of Crimea” are just some of the
preconditions to just maybe stop the war
of aggression by Russia.
The NATO countries and the rest
of the world for that matter remain
cautious about how to help Ukraine. If
the prospect of a nuclear world ending
conflict was not our reality, Russia and
its corrupt and ineffective war yield-
ing hordes would already have been
defeated before crossing its borders. The
danger of an itchy finger pressing the
“button” and initiating World War III is
scary beyond our imagination but still is
a possibility.
The fact that we have an old and stable
hand such as President Joe Biden at the
White House is a blessing for this coun-
try and the rest of the world — as well
as the surprising leadership of Ukraine’s
young President Volodymyr Zelenskyy,
who courageously and maturely encour-
ages his people during the destruction of
their cities and country.
May the world survive this disaster,
as continuation of this naked aggression
serves absolutely no one on the planet.
Carlos “Charlie” Wysling
Bend
CONTACT YOUR REPRESENTATIVES
U.S. PRESIDENT
Joe Biden
The White House
1600 Pennsylvania Ave. NW
Washington, DC 20500
Comments: 202-456-1111
GOVERNOR
Kate Brown
160 State Capitol
900 Court St.
Salem, OR 97301-4047
503-378-4582
U.S. SENATORS
Ron Wyden
221 Dirksen Senate Office Bldg.
Washington, DC 20510
202-224-5244
La Grande office: 541-962-7691
Jeff Merkley
313 Hart Senate Office Building
Washington, DC 20510
202-224-3753
Pendleton office: 541-278-1129
REPRESENTATIVES
Bobby Levy, District 58
900 Court St. NE, H-376
Salem, OR 97301
503-986-1458
Rep.BobbyLevy@state.or.us
Greg Smith, District 57
900 Court St. NE, H-482
Salem, OR 97301
503-986-1457
Rep.GregSmith@state.or.us
U.S. REPRESENTATIVE
Cliff Bentz
2185 Rayburn House Office Building
Washington, DC 20515
202-225-6730
Medford office: 541-776-4646
SENATOR
Bill Hansell, District 29
900 Court St. NE, S-415
Salem, OR 97301
503-986-1729
Sen.BillHansell@state.or.us