Hit Iran Where It Hurts

[New York Post] Dick Morris and Eileen McGann - The sanctions adopted by the UN are too weak, too puny, and too late to have any deterrent effect on Iran's drive to build a nuclear bomb. But there is something we can do: We can stop investing in companies that help Iran exploit the oil and gas resources on which its economy depends. Sarah Steelman, Missouri's state treasurer, has pulled state pension fund investments from any company that abets terrorism. Steelman's first targets were the Swiss giant UBS Finance and the French firm BNP Paribas Finance. UBS got the message and pulled out of Iran. Former Pentagon official Frank Gaffney's group, disinvestterror.org, has targeted Royal Dutch Shell, with extensive holdings in the Iranian offshore oil fields of Soroush and Nowruz, where its investments have raised Iran's total oil output by 8%. Companies should persuade their banks to join the disinvestment project. Unions should direct their pension funds to do the same.

2006-12-28 01:00:00

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