Sanctions backer Frankel tells broker to unload $4,276 in Russian holdings in her IRAby George Bennett | March 26th, 2014
U.S. Rep. Lois Frankel, D-West Palm Beach, who joined colleagues on the House Foreign Relations Committee Tuesday in approving a sanctions bill against Russia for its Ukrainian aggression, said today she has asked her broker to get rid of holdings in six Russian companies that a Morgan Stanley account manager purchased for her Individual Retirement Account.
The Russian holdings of Frankel and five other members of Congress were noted by The Huffington Post Tuesday.
“I support, and voted for, the bipartisan sanctions against Russia for their aggressive actions against Ukraine,” Frankel said in a statement released today.
“My holdings were purchased by a Morgan Stanley Account Manager, for many clients, long before the current crisis and are among hundreds of stocks in said portfolio that are managed by that manager. The total value of these Russian-related positions have a total value of $4,276. I have requested my broker to liquidate those interests forthwith,” Frankel said.