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US Congressman Schiff, colleagues support bill banning Turkish investments

US Congress member Adam Schiff and nine of his colleagues from California sent a letter to California State Senate President Pro Tempore Kevin De León in support of California Assembly Bill 1597, which would divest California’s public pension funds from investment vehicles that are owned, controlled, or managed by the Turkish government.

US Congressman Schiff, colleagues support bill banning Turkish investments

US Congressman Schiff, colleagues support bill banning Turkish investments

STEPANAKERT, JUNE 22, ARTSAKHPRESS: “California has acted in the past to prohibit new investments by its pension funds in sectors that are inimical to our state’s values, such as the 2015 state law mandating divestment from coal companies,” the Congress members wrote in the letter. “The narrowly drafted AB 1597 proposal is an appropriate use of that authority, blocking future investments directly owned by the Turkish Government, such as government bonds.”

“Given the recent assault on peaceful protestors in Washington, D.C. by Turkish President Recep Tayyip Erdogan’s personal security forces, as well as Turkey’s continued denial of the Armenian Genocide, divestment by California is an appropriate response,” the Congress members also wrote.

 


     

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