Illinois State Senate unanimously approves legislation banning state investment in Russia

SPRINGFIELD — The Illinois State Senate unanimously approved legislation prohibiting the investment of state funds in Russia Wednesday.

The proposed law, House Bill 1293, would require the state to divest or withdraw any existing investments in Russian banks and companies and prohibit such investments moving forward on top of several other stipulations.

The legislation would also do the following:

With the State Senate’s 50-0 vote of approval Wednesday, the proposal’s next stop is the Illinois House of Representatives for final action.