From Japan to the US, sanctions threaten top pension funds’ Russia assets
Norway’s announcement it would divest its sovereign wealth fund’s Russian holdings – totalling $2.8 billion as of end-December – as a consequence of Russia’s invasion of Ukraine has raised the prospect that other state-backed pension funds might follow their governments’ cues and offload assets en masse.
Japan’s Government Pension Investment Fund (GPIF) – the largest in the world by assets – had ¥213.1 billion ($1.9 billion) in exposures to Russia as of end-March 2021.
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