University Of Michigan To Pull Russia Investments

ANN ARBOR, Mich. (CBS Detroit) -- The University of Michigan said it was pulling its investment out of Russia amid the war in Ukraine.

The university says its ending current investment and avoiding any future endeavors in the country. Officials cite high financial risk associated with Russia.

The university did not go into detail on what specific investments will be affected.

In a statement on March 7, U of M President Mary Sue Coleman condemned the invasion and "the ruthless attack on freedom."

"The grief, anger and hurt are devastating, and I feel such sorrow for the many members of our community whose loved ones and communities are in harm's way," Coleman said, adding support for Ukraine.

© 2022 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.