JUNEAU — Gov. Sean Parnell is calling for the divestment of state investments in companies that either do business in Iran or with Iran’s ruling government.
Parnell sent letters this week urging a “policy of divestiture” to the executive director of the Alaska Permanent Fund Corp., the state Revenue commissioner and the chair of the Alaska Retirement Management Board.
“I understand some believe free markets, rather than government policy, should direct our investment choices, but this very real threat requires action,” Parnell wrote. He cited nuclear concerns raised by the International Atomic Energy Agency and a hostile Iranian stance against Israel.
“No free markets exists when one nation builds a nuclear arsenal while it continually and steadfastly advocates for the eradication of an entire nation, with our own not so far behind,” he wrote.
Israel has argued that an Iran with nuclear weapons would threaten its survival. The country has cited the Iranian government’s calls for the destruction of the Jewish state and support of anti-Israel militant groups.
Parnell said sanction “comes as a last resort, an option our state has historically refused when presented. However, the time to stand on the principles of life and liberty is at hand, and we must step up along with our country and other states.”
The Senate is currently considering legislation requiring the state to divest from companies that have investments in Iran. Materials provided to the Senate State Affairs Committee, as part of the hearing process, cited similar policies in at least 22 states and the District of Columbia, plus a unanimous U.S. Senate vote to sanction financial institutions that associate with the Central Bank of Iran.
According to a Legislative Research Services memo, Alaska has an estimated $79 million invested in companies that are invested in Iran. Those companies include China-based China Petroleum and Chemical, South Africa-based Sasol Ltd. and Russia-based Gazprom OAO.
The $79 million represents about 0.1 percent of the state’s overall investments.
Sen. Bill Wielechowski, lead sponsor of the legislation, SB131, said he’s glad the governor is following lawmakers’ lead, but Wielechowski said he plans to continue pursuing his measure because it is an important policy to have in law.
Comments (5)
Add commentI get the Iran nuclear thing
But now Parnell wants to divest from countries that "are hostile" to other countries? I guess we'll be down to investing in Switzerland.
This just looks like more pandering to the Israel lobby to further Parnell's congressional ambitions.
Is that including oil
Is that including oil companies? Almost all of them are in business with Iran...
Getting the PFD out of Iran
Getting the PFD out of Iran seems to be a fairly smart idea since it seems Iran is next on the list to get leveled. If we destroy their economy our PFD will take a hit.
NWO Tool
Parnell, Tool of the New World Order elite. Could he make his pathetic sycophantic reactionary policies any more clear? Austerity for Alaskans is not enough for him. Now he wants us to scratch open another war, this time with Iran, and send our children into another butchering melee with a country that has not and could not threaten the U.S.A in any real way.
Slippery Slope!
Divestment is a slippery slope to get on! Where does it stop? Today, it's don't invest in Iran.....tomorrow, don't invest in tobacco companies.....the next day, don't invest in McDonald's until their menu is healthier.
And this divestment would do NOTHING to Iran. If the Iranian investments are good ones (they should be, otherwise why are we in them), the very next investor in line will gladly scoop up our profitable securities. No money loss to the Iran companies or business partners, no punishment at all.
At best, this is a symbolic gesture against Iran's policies.....but what this actually is is the governor pandering to his Israeli and war-hawk base.
Sure did like Parnell for the first month he was in office.....since then, not so much, actually not at all!