Iran General NewsMass. pension fund divests of companies with Iran ties

Mass. pension fund divests of companies with Iran ties

-

Reuters: The Massachusetts public employees pension fund has divested all of its stakes in companies with major ties to Iran’s energy industry, joining a campaign to pressure the country to stop developing nuclear weapons, state Treasurer Steve Grossman said on Tuesday.

(Reuters) – The Massachusetts public employees pension fund has divested all of its stakes in companies with major ties to Iran’s energy industry, joining a campaign to pressure the country to stop developing nuclear weapons, state Treasurer Steve Grossman said on Tuesday.

The decision by the nearly $50 billion Massachusetts fund, called Pension Reserves Investment Management, follows similar divestitures by other states including New York, Florida and Georgia, Grossman said by telephone.

“Massachusetts’s efforts are very much in concert with the sanctions being imposed by Washington and Europe,” he said in a statement.

The six companies that were divested, in accordance with a new state law are: L’Air Liquide, Daelim Industrial Co., Gazprom Hyundai Heavy Industries Ltd, Sasol and Siemens Ltd.. The shares had a total value of about $100 million, Grossman said.

“The cost to the portfolio has been minimal,” he said.

New York is considering additional ways of further isolating Iran. Companies and individuals that invest in Iran’s energy sector would be barred from doing business with New York state and its counties, cities and towns, under a bill proposed by the Democratic Assembly speaker.

(Reporting By Joan Gralla; Editing by Leslie Adler)

Latest news

Khamenei’s Disgraceful Campaign Against Piranshahr and Javanrud, Who Will Be the Loser?

On the 67th day of Iran’s revolution, the Iranian regime attempted to put a halt to the protests in...

Iran: Expensive Medicine, Cheap Human Life

A look at the equipment and weapons that the Iranian regime has been using against its people to suppress...

Who Is Abolqasem Salavati Iran Regime’s Killer Judge?

Last week, it was announced that the case of several people who were arrested during the Iranian People's uprising...

Iran Revolution Characteristics

More than two months have passed since the start of the latest round of protests in Iran against the...

Iran’s Regime Is Unable To Eradicate Protests

Totalitarian governments, whether be it a monarchy or a clerical regime, and their international supporters are pursuing the same...

Ten Percent of Iran’s Nation Is Ready To Sacrifice Itself for Freedom

According to estimates by the Iranian regime’s main opposition group, the People’s Mojahedin Organization of Iran (PMOI/MEK), more than...

Must read

The Truth About Iran’s Resistance Economy

Iran Focus London, 11 May - A high-ranking member...

Iran conservatives win parliament majority -state TV

Reuters: Conservatives won a majority in Iran's parliamentary vote,...

You might also likeRELATED
Recommended to you