Neoconservative hawks who championed the invasion of Iraq are leading a new campaign to persuade state and local governments, as well as other institutional investors, to "divest" their holdings in foreign companies and U.S. overseas subsidiaries doing business in Iran. they call their divestment strategy the "nonviolent tool for countering the Iranian threat." The initiative, is also backed by major pro-Israel and Jewish groups, including the American Israel Public Affairs Committee, the American Jewish Committee, the Anti-Defamation League, and local Jewish Community Relations Councils whose membership is worried that Israel will be threatened by a nuclear-armed Iran. Potentially at stake are billions of dollars controlled by state pension funds and other institutional investors that have invested money in companies – based mostly in Europe and Asia – operating in Iran. New York pension funds alone own nearly one billion dollars of stock in three Fortune 500 companies tied to Iran.
2007-05-11
07:35:11
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6 answers
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asked by
rare2findd
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Politics & Government
➔ Politics
On the other hand, the administration has opposed the pending legislation both because it would reduce the president's flexibility in conducting foreign policy and because imposing sanctions will almost certainly produce a backlash in foreign capitals that would undermine Washington's ability to sustain a united front with its allies and other powers against Iran at the U.N. and in other forums. But this might well turn the full weight of sanctions not against Iran but against our allies that are instrumental in our coalition against Iran," Undersecretary of State Nicholas Burns has said.
"On one hand, we're asking Europe, Russia, China and Japan to work together with us on this, and, on the other hand, we're beating their companies over the head with a stick," NFTC President William Reinsch told IPS..
2007-05-11
07:36:00 ·
update #1
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hummm. Does this include Hallburton ?
And why oh why is there so much involvement from Jewish groups. I have a problem with them being involved in anything further having to do with the Iran and Iraq. This is despite their ‘location’ in the region. I would offer that they are looking for a ‘legitimate’ reason to sever ties with Iran – given rather obvious long range plans to attack Iran.
Their motives are so very transparent.
2007-05-11
07:36:42 ·
update #2
I don't need a lesson on neoconservatives.
Now. Thank you.
2007-05-11
08:04:13 ·
update #3