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State Representative Ryan Winkler
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-7026
For more information contact: Matt Swenson 651-297-8406
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STATE LAWMAKERS PASS IRAN DIVESTMENT BILL
ST. PAUL, MN - The Minnesota House and Senate passed a bill today (HF111) cutting off Minnesota’s investments in foreign oil companies doing businesses in the Iranian energy sector. The bill has garnered bipartisan support in both houses and is expected to be signed into law by Governor Pawlenty in the coming days.
“Minnesota made an important decision today to end economic support for Iran’s nuclear program," said Rep. Ryan Winkler (DFL - Golden Valley) who authored the bill in the House. “This is our state’s most effective contribution to helping deter the Iranian nuclear threat.”
The bill requires the State Board of Investment to divest state resources from any foreign business that has done more than $20 million of business in the Iranian energy sector since 1996. It is intended to ensure Minnesota investment funds aren’t indirectly contributing to a repressive and aggressive regime.
“The State of Minnesota is now supporting the Obama administration foreign policy of pursuing both international pressure and opening the door to negotiations with Iran,” said Winkler. “We’re joining 14 other states and President Obama in protecting important national interests.”
The Minnesota divestment proposal is modeled after federal legislation and similar initiatives in 14 other states. These laws are focused on Iran’s energy sector because the revenue from Iran’s oil and gas industry directly funds its nuclear program as well as its support for international terrorism.
News Items
- Statement on Budget Forecast - (Posted: 2012-12-05 00:00:00)
- Statement on Final I-35 W Bridge Settlement - (Posted: 2012-11-13 00:00:00)
- Rep. Winkler: Tea Party Activists Can’t Be Trusted to Reform Our Elections - (Posted: 2012-11-01 00:00:00)
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