Following sanctions and divestments by state and federal officials, the New York City Police Pension Fund announced it would direct city Comptroller Brad Lander to divest the fund's investments into securities issued by Russian companies.

The move was approved Tuesday by the fund's board of trustees, which includes Lander, Mayor Eric Adams, NYPD Commissioner Keechant Sewell and police union officials.

"In all pension fund matters, we have a fiduciary responsibility to act in the best interests of the fund's members. This divestment was necessary in order to protect those interests," Police Benevolent Association President Pat Lynch said in a statement. "The PBA stands with the people of Ukraine against this unprovoked attack. We join our members of Ukrainian heritage in praying for the safety of their friends and family in the conflict zone."

The New York City Police Pension Fund represents 36,000 active members and 43,000 retired members of the NYPD.

"Freedom cannot be denied, here or anywhere. That's why I stand in support of efforts to divest the city's pension funds from Russian assets in light of the ongoing invasion of Ukraine — an unprovoked and unjustified war," Adams said in a statement Tuesday, adding the move was not intended to hurt the Russian people, but instead punish Russian President Vladimir Putin. "Our administration is committed to standing with Ukrainians and refugees here and abroad while doing all we can to advance peace."

On Sunday, Lander, who oversees the city's $274 billion in pension funds, announced he would begin consulting the city's five pension plans to divest holdings in Russian assets identified by the federal government.

“The international community and the global financial institutions have rallied in support of Ukrainians facing an unjustified assault on their sovereignty and democracy. New Yorkers, including current and retired police officers, stand in solidarity with Ukraine and are proud to play a role in contributing to cutting President Putin and his enablers off from global financial markets,” Lander said. “It is our hope that the world’s response accelerates an end to aggression and a swift resolution that saves lives and supports the many people displaced by this violence.”

The NYC Police Pension Fund held $42.2 million in Russian securities as of the end of the business day Friday.