NY State representatives push to keep Iran divestment in place

Three years ago, the state enacted legislation mandating identification of persons or entities that invest more than $20 million in goods, services or credit in the Iranian energy sector.

March 10, 2016 17:44
2 minute read.
Anti-Iran protest

Anti-Iran protest. (photo credit: MIKE SEGAR / REUTERS)


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NEW YORK - State Senator Thomas Croci and Assemblywoman Nily Rozic called this week for the immediate passage of a legislation they drafted to prevent the repeal of the existing Iran Divestment Act, which includes sanctions against the financial and energy sectors of the Islamic Republic of Iran.

“This bill is about ensuring New York State can exercise its legal authority in prohibiting companies from doing business in Iran’s energy sector,” Nily Rozic, the first Israeli-born member elected to the State Legislature, said. “In keeping existing sanctions against Iran, we are sending a strong message that the State will not stand for any threat against the security of its citizens and disruption of global stability.”

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Three years ago, the state enacted legislation requiring the State Office of General Services to identify persons or entities that invest more than $20 million in goods, services or credit in the Iranian energy sector.

Senator Croci said that in essence, the new bill aims to increase the state’s citizens’ protection by strengthening its alliance with ally countries.

“New York taxpayers do not deserve to have their tax dollars used to support nations that seek to boycott United States allies, such as Israel,” he said. “ I am proud to support this bill and I hope that the Assembly and Governor will act quickly on this legislation that will put a stop to state contracts and investments with those that don’t support American allies.”

This fall, Senator Croci applauded the State Senate’s passage of legislation prohibiting New York state from entering in any contract with any company or individual involved the BDS movement’s efforts to boycott Israel.

That legislation had been introduced by State Senator Michael Gianaris who told the Jerusalem Post at the time that “the goal is to make a strong statement that New York stands with Israel and that any efforts to undermine the legitimacy of our strongest ally in the region will not be successful.”


Assemblyman Phillip Goldfeder, who lead a bipartisan coalition calling on the Governor to continue state sanctions against Iran, joined Croci and Rozic in their push and said that a “Iran is a leading sponsor of terrorism as well as a major threat to global stability, and the recent Iran Deal has only emboldened them to continue their dangerous activities.”

“When Washington fails to act, our great state must be prepared to stand up to this terrorist menace,” Goldfeder continued.

Several other New York lawmakers have also expressed support for the bill.

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