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.

Powered by WorldNow

23 Kenney Drive
Cranston, R.I., 02920

Telephone: 401.455.9100
Fax: 401.455.9140

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.