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Connecticut has $22 million invested in Saudi Arabia

Conn. Gov. Ned Lamont
Jessica Hill
Associated Press
Connecticut Governor Ned Lamont

The state has $22 million invested in Saudi Arabian oil and government bonds, according to a Connecticut treasury spokesperson.

Governor Ned Lamont is not concerned with Connecticut's investments in Saudi Arabia.

Saudi Arabia is currently facing criticism from the Biden administration for cutting oil production. They say it could be an attempt to help Russia use energy as a way to fight Ukraine and its allies.

Lamont is targeting his Republican opponent Bob Stefanowski, who has business ties to the country.

"The point is that somebody is running for public office and getting paid by the Saudis, and people have a right to know. I can see why my opponent had something to hide," Lamont said.

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Stefanowski has consulted on a green energy project with the country since 2019. At the time, the country was criticized by the U.S. for the assassination of journalist Jamal Khashoggi.

"Just because you meet with a country doesn’t mean you agree with all their policies and procedures," Stefanowski said.

The treasury spokesperson did not indicate whether the state will reconsider its deals with Saudi Arabia.

Molly is a reporter covering Connecticut. She also produces Long Story Short, a podcast exploring public policy issues across Connecticut.