Iran

July 21, 2009

L.A. county passes motion to divest from Iran

By Tom Tugend

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The Los Angeles Board of Supervisors passed a motion Tuesday morning requesting the county pension fund to divest itself of any assets or funds from any companies doing business with Iranian companies active in energy resource development.

The motion, introduced by Supervisors Michael D. Antonovich and and Zev Yaroslavsky, passed unanimously by a 4:0 vote, with Supervisor Mark Ridley-Thomas absent.

No one spoke in opposition to the divestment motion, but several speakers from the Iranian Jewish community expressed their strong support. A sizeable delegation of young Iranian Jews were in the audience, rallied by Thirty Years After, consisting of young Iranian Jewish professionals.

In arguing for his motion, Antonovich said, “Iran has been identified by the State Department as the chief sponsor of international terrorism. Economic sanctions, risk warnings, credit restrictions and other measures announced by the United States, European nations, and the United Nations, make business in Iran’s oil and natural gas sector an increasing fiduciary risk.”

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