NSW government could be forced to write off $30 million of tax payer funded investments that have been frozen by the Russians.
Matt Kean Treasurer of New South Wales had been trying to dump $75 million invested Russia after they declared war on the Ukraine.
Unfortunately the NSW Government has not been able to recover the entire $75 million because Russia has frozen the sale of equities and will likely write off the remaining $30 million.
Opposition Treasury spokesman Daniel Mookhey declared that the government should never have invested in Russia and that NSW should be also pulling investments out of Saudi Arabia as a priority.
Experience the premium benefits of MHV NEWS Gold with a complimentary 7-day trial. Enjoy an ad-free browsing experience, and continue for just $1 per month thereafter, with the freedom to cancel anytime.
Or enjoy 1 year Add Free for the low price of $10