Chafee marks state's divestment from Iran - News, Weather and Classifieds for Southern New England

Chafee marks state's divestment from Iran

Posted: Updated:

Rhode Island is no longer going to invest in or contract with companies that do business in Iran.

A new state law requires the state to pull any pension investments in companies doing business in Iran. The state will also end any relationships with state contractors with a presence in the country. Companies would be given the option of ceasing their operations in Iran before the state takes action.

Gov. Lincoln Chafee and other state leaders held a ceremonial signing for the law on Tuesday.

State lawmakers passed the divestment law earlier this year. Supporters say it will help put financial pressure on Iran to drop its nuclear weapon development efforts and end its support for terrorist groups.

More than two dozen states have enacted similar laws.

  • Local PoliticsMore>>

  • Obama arrives in RI, heads to Newport fundraiser

    Obama arrives in RI, heads to Newport fundraiser

    Friday, August 29 2014 7:19 PM EDT2014-08-29 23:19:51 GMT
    President Barack Obama meets with Gov. Lincoln Chafee and U.S. Sen. Jack Reed at T.F. Green Airport in Warwick.President Barack Obama meets with Gov. Lincoln Chafee and U.S. Sen. Jack Reed at T.F. Green Airport in Warwick.
    President Barack Obama is on a fundraising blitz and Newport is one of his stops.
    President Barack Obama is on a fundraising blitz and Newport is one of his stops.
  • Lt. Governor candidates say priority is putting RI back to work

    Lt. Governor candidates say priority is putting RI back to work

    Friday, August 29 2014 4:01 PM EDT2014-08-29 20:01:33 GMT
    NBC 10's Bill Rappleye (left) speaks with Secretary of State Ralph Mollis, Cumberland Mayor Dan McKee and state Rep. Frank Ferri during a taping of "10 News Conference".NBC 10's Bill Rappleye (left) speaks with Secretary of State Ralph Mollis, Cumberland Mayor Dan McKee and state Rep. Frank Ferri during a taping of "10 News Conference".
    All of the candidates, Secretary of State Ralph Mollis, Cumberland Mayor Dan Mckee, and state Rep. Frank Ferri, say closing the skills gap and putting people back to work would be their first priorities.
    All of the candidates, Secretary of State Ralph Mollis, Cumberland Mayor Dan Mckee, and state Rep. Frank Ferri, say closing the skills gap and putting people back to work would be their first priorities.
  • Year ends with $68M surplus; most already used

    Year ends with $68M surplus; most already used

    The state of Rhode Island ended the last fiscal year with a $68 million surplus, though $59 has already been used to close a hole in the General Assembly's current year spending plan.
    The state of Rhode Island ended the last fiscal year with a $68 million surplus, though $59 has already been used to close a hole in the General Assembly's current year spending plan.
Powered by WorldNow

23 Kenney Drive
Cranston, R.I., 02920

Telephone: 401.455.9100
Fax: 401.455.9140
Email: news@wjar.com

Can't find something?

NBC 10 Outerwear Provided by:

NBC 10 Media Relations
Provided by:

Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.