House Passes Iran Divestment Bill
On October 14, 2009, the House of Representatives approved the Iran Sanctions Enabling Act of 2009, which permits state and local governments to divest any public funds from companies that do more than $20 million a year in business with Iran's energy sector. The bill, introduced by Rep. Barney Frank (D-MA), is meant to pressure Iran's government over its nuclear program. NIAC President and Ploughshares Fund grantee Trita Parsi warned that sanctions are likely to hurt the Iranian people rather than the Iranian government, a fate the Obama administration wants to avoid. The bill must still be passed by the Senate, which rejected a similar bill in 2007, before it can go to the President's desk.
