Divest from Iran
The Los Angeles Times reported last week on a push by two California officials to divest from Iran.
[They] are pushing insurers and the state’s two major pension funds to sell more than $6 billion worth of holdings in companies doing business in Iran. Insurance Commissioner Steve Poizner is expected Wednesday to ask hundreds of state-licensed insurance companies to pull money out of 50 foreign-owned corporations he said are involved in Iran’s nuclear, military and energy sectors.
The push follows moves by the Treasury Department to impose sanctions as a way of forcing the regime to curb its nuclear program. The sanctions have largely targeted the Iranian Revolutionary Guards Corps (IRGC). Secretary of State Hillary Clinton said in Doha last week that the U.S. feared the IRGC was gradually seizing control of the state, with the potential to transform it into a military dictatorship.
According to RAND the IRGC
[controls] an array of subsidiary companies that have penetrated virtually every sector of the Iranian market—from construction and real estate to laser eye surgery and automobile manufacturing. Reportedly, the IRGC also operates illicit smuggling networks that constitute a vast shadow economy.
Tactics like sanctions and divestment are not failsafe mechanisms, as the regime has found ways to disguise some of its business dealings. Nevertheless, they are important resources to help curb the nuclear threat, when applied to Iranian business interests, as well as when applied to any company doing business with the regime.
You can read the Los Angeles Times article here.


