Congress Encourages Divesting from Iranian Energy Sector

October 14, 2009 -- Washington, DC - Today, a strong, bi-partisan majority in the House of Representatives voted to pass the Iran Sanctions Enabling Act of 2009 (HR 1327). This legislation would ease the path for state and local governments and pension plans to divest themselves of investments in Iran's oil or natural gas sectors. Congressman Charlie Gonzalez (TX‑20), a co-sponsor of the legislation, issued the following statement on the 414-6 vote.

"Recent actions by the Iranian regime have troubled us all. If an investor is uncomfortable having her money in Iran's economy, she should be able to pull her money out. The same goes for local governments and pension plans. By removing some of the hurdles that would prevent that, this bill would allow the Obama Administration or the international community to effect strong sanctions without hurting our governments or pensioners."

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Since taking office, the Obama Administration has looked on economic sanctions as a significant part of its Iran policy, and the imposition of further sanctions, whether at the United Nations or from the United States, is a distinct possibility.

Source: Congressman Charlie Gonzalez