Tennessee’s State Treasurer and Joe’s Wines and Liquors clarified where they stand on Ukraine this week.
Tennessee has “no direct investment exposure to countries such as China and Russia,” Tennessee Treasurer David Lillard said in a letter issued this week. Lillard said he was responding to news articles about other state pension plans working to review their investments in Russia. However, Lillard said, “I want to reassure you that this is not a concern for Tennessee.”
“I want to reassure you that this is not a concern for Tennessee.”
Tennessee Treasurer David Lillard
Lillard said his office uses two indexes to screen nations for investments by the state: the Global Democracy Index, developed by The Economist magazine, and the Corruption Perceptions Index, created by Transparency International.
“Countries that score badly on the combination of corruption and democracy are eliminated as possible investment options,” Lillard said. “For more than a decade, the screening has protected [Tennessee Consolidated Retirement System — TCRS] from making direct investments in countries such as China and Russia.”
Joe’s Wines and Liquors sent an email to its customers this week in response to numerous questions about Russian and Ukraine products. The note explains what products the store carries and what it does not.
We do not have any on the shelf right now, and things will stay that way.
Joe’s Wine and Liquor via email
For instance, Smirnoff and Stoli, maybe the two most recognizable vodka brands, were Russian products but have not been Russian-owned nor Russian-made “for decades now,” Joe’s said.
“We sell Khor Vodka, which is made in the Ukraine, and is a top-three vodka worldwide in terms of sales,” Joe’s said in the email. “We will have it stacked up in the store [Tuesday, February 28th] morning if you’d like to try it out and show your support.
“Russian Standard is our only truly Russian Vodka, and it is owned by a Russian oligarch. We do not have any on the shelf right now, and things will stay that way.”