Four stories from over the past day:
(The ones from AFP and the AP are from after the vote; the ones from VOA and Bloomberg from before. See also a related new GI-Net press release/backgrounder.)
From AFP...
The US House of Representatives on Tuesday passed a bill ordering the naming of companies that do business in Sudan, which backers said would shame those who profit in the shadow of Darfur "genocide."
The legislation, passed by a crushing 418-1 majority, would also prohibit US government contracts with such firms and clear the way for federal and state pension funds to divest holdings in firms which invest in Sudan.
"No one should have to worry that they are supporting genocide, whether it's through their tax dollars or their pension fund," said California Democrat Barbara Lee, who introduced the measure.
"This bill is designed to wash the blood off of our federal contracts, protect the rights of states to divest their own public pension funds from companies doing business in Sudan, and increase the financial pressure on Khartoum to end the genocide in Sudan."
Brad Miller, a Republican representative from North Carolina said, when the bill was debated on Monday, that it would "hold up for public shame the companies that invest in Sudan" and shine a spotlight on those who "seek profit in the face of the genocide in Darfur."
"I refuse to fail the people of Darfur, as we failed the people of Rwanda," said Miller.
The huge majority in favor of the measure is much larger than the two-thirds margin needed to override any presidential veto of the legislation.
The Darfur Accountability and Divestment Act is similar to a current bill targeting investment in Iran, and modelled on legislation which helped state pension funds divest in firms involved in apartheid-era South Africa.
The Darfur conflict began in 2003, when an ethnic minority rose up against the Arab-dominated government in Khartoum, which then enlisted the Janjaweed militia group to help crush the rebellion.
An estimated 200,000 people have died in Darfur from the combined effect of war and famine since then.
The bill passed as the UN Security Council was to authorize later [on] Tuesday the deployment of a joint African Union-UN force in Darfur, and Britain threatened sanctions if the violence in the region did not stop.
The 15 council members were to endorse a revised Franco-British draft resolution mandating the 26,000-strong "hybrid" force, to be known as UNAMID, to take over peacekeeping in Darfur from 7,000 ill-equipped AU troops.
From the AP...
The House of Representatives voted [on] Tuesday to give legal protections to U.S. investors and state and local governments who decide to curtail investments in international corporations doing business in Iran and Sudan.
The bills, now heading to the Senate, provide safe harbor from lawsuits to managers of mutual funds and pension funds who divest funds from companies that invest more than $20 million (€14.6 million) in Iran's energy sector or in businesses that support Sudan's policies in Darfur.
The bills, said Finance Committee Chairman Barney Frank, a Democrat, will "empower Americans, in their individual capacities, through their state governments, through organizations, to express in a concrete way the overwhelming opposition in our country" to the genocide in Darfur and to Iran's pursuit of a nuclear weapons capacity.
The votes were 418-1 on Darfur and 408-6 on Iran divestment.
Under both bills, the federal government is to periodically update a list of companies that do business with Sudan or Iran's energy sector. They note that while U.S. companies are already barred from involvement in Sudan or Iran's energy sector, many Americans are unaware of the business connections of the foreign companies [that] they invest in.
The bills allow state and local governments to divest the assets of their pension funds and other funds under their control from any company on the list.
Rep. Barbara Lee, a Democrat and sponsor of the Darfur measure, said [that] 54 universities and 19 states have already taken steps to divest funds from companies investing in Sudan to protest the violence there that has killed some 400,000 people. She said [that] the bill would also bar the federal government from renewing and signing contracts with multinationals doing business with the Khartoum government.
The Iran bill focuses on those international corporations investing at least $20 million (€14.6 million) in Iran's energy sector, selling munitions to Iran or extending credit of $20 million (€14.6 million) or more to the Iranian government.
The House separately was voting on a bill to expand existing sanctions on Iran to include business in that nation's liquefied-natural-gas and petrochemical industries. It makes export-credit agencies, insurers and other financial institutions subject to sanctions for investment in Iran's energy industry.
"Responsible nations must immediately stop their multimillion, and in some cases -billion-, -dollar investments in Iran's energy sector," said Rep. Ileana Ros-Lehtinen, a Republican and the sponsor of the bill.
From VOA...
The House of Representatives is poised to approve legislation aimed at stepping up economic pressure on the government of Sudan because of the situation in Darfur. VOA's Dan Robinson reports from Capitol Hill that the vote is expected [on] Tuesday.
House lawmakers designed the Darfur Accountability and Divestment Act to support the widening grassroots movement in the United States for states, cities, [...] universities, and mutual and pension funds to divest from or restrict investments in companies doing business in Sudan.
California Democrat Barbara Lee is the bill's main sponsor, and notes that, so far, 19 U.S. states, nine cities, and 54 universities have approved divestment measures.
"Throughout our country, our constituents are standing up and demanding that their hard-earned money not be used to support a pariah government that is killing its own people," she said.
Under the legislation, the Securities and Exchange Commission would compile a list of companies [on] the New York Stock Exchange with ties to Khartoum, prohibit them from receiving federal contracts, and make it legal to divest from such companies, removing the threat of lawsuits in the case of pension and other fund managers.
House financial-services-committee chairman Congressman Barney Frank says [that] the Darfur measure, and a similar one for Iran, does not compel divestment.
"What these bills do is to make it clear, as I think they will once they become law, that the opposition to the genocide in Sudan, to the nuclearization, the weapons nuclearization in Iran, are widespread throughout this country," he said.
Among provisions, companies involved in Sudan would disclose the nature of their operations. The Government Accountability Office (GAO), an arm of Congress, would investigate any Sudan investments by the Thrift Investment Board, which oversees the federal-employee-retirement fund.
Companies would have to disclose activities with Sudan government or government-controlled entities, investments in military equipment sales, or oil-related activities.
Geographic exceptions are made for southern Sudan, providing humanitarian relief for people in Darfur, implementing the 2006 Darfur Peace Agreement, and providing military and other equipment for African Union peacekeepers or the United Nations and non-government organizations.
Republicans usually skeptical about the effectiveness of sanctions supported the measure.
"Closing our financial markets to those who particularly directly or indirectly engage in the slaughter of innocent human beings is well within our ability and ought to be the bedrock of our principles," said Congressman Scott Garrett.
Congressman Frank Wolf has been the most-outspoken House Republican on Darfur.
"Many states have been reluctant, they have looked for excuses," he said. "Now, this legislation takes away all the excuses."
Republicans insisted on language calling for other governments to adopt similar measures.
The bill gives the U.S. president power to waive provisions on a case-by-case basis, in the interest of U.S. national security.
Bipartisan divestment legislation regarding Darfur is also pending in the Senate, where a measure proposes to identify securities companies with more than one million dollars invested in Sudan's petroleum industry.
So far this year, House lawmakers have also approved other measures urging China, and the Arab League, to use their influence with the Khartoum government to help stop genocide and violence in Darfur, and providing funds to help Darfur refugees living in camps in Chad.
From Bloomberg...
The House of Representatives is set to vote on legislation encouraging state and local governments to end their links with companies that do business in Iran or Sudan.
The House will hold separate roll-call votes tonight or tomorrow [Monday or Tuesday] on the package of three measures.
One measure would require the Treasury Department to publicize the names of companies that have an investment of $20 million or more in Iran's or Sudan's energy or weapons industries. Separate legislation would protect state and local governments or fund investors from shareholder lawsuits, if they sell their holdings in these companies.
``Divestiture needs to be part of a bigger diplomatic and economic strategy to isolate the government of Iran,'' said Representative Brad Sherman, a California Democrat. ``This bill sweeps away an excuse from those investment managers who haven't wanted to be bothered to divest, even when their investors are demanding it.''
A third measure would prohibit companies with federal contracts from conducting business with the Sudanese government, and would authorize states to create the same restriction.
The divestiture measure, proposed by Representative Barney Frank, chairman of the House Financial Services Committee, aims to preempt lawsuits such as the one brought in Illinois, where the National Foreign Trade Council sued to overturn a state law that divested state pension funds from Sudan.
`Genocide'
``Helping finance the genocide in Darfur, helping Iran get nuclear weapons, is not a good idea,'' Frank said in an interview.
State governments in California, Missouri and Florida are taking steps to sell Iran-related investments.
Frank said [that] he thinks [that] everyone should divest from such companies, while declining to name any company that might be hit by the divestiture movement.
It may prove difficult to create a list of companies that do business in Iran and Sudan, both countries that the U.S. State Department says sponsor terrorism. Two weeks ago, the U.S. Securities and Exchange Commission suspended its Internet posting of a list of companies with ties to countries that support terrorism after companies said it was unfair.
Frank, a Massachusetts Democrat, asked the SEC to remove the list because it included companies whose ties to Iran, Sudan or other state sponsors of terrorism were peripheral. Steven Adamske, Frank's spokesman, said [that] today's legislation would exempt companies that are doing humanitarian work in Iran and Sudan.
`A Perfect List'
``It will be difficult to make a perfect list,'' Frank said. ``It won't be hard at all to come up with a pretty-good list.''
Companies around the world are pursuing long-term agreements to tap into Iran's reserves of oil and gas, the second largest in the world. The U.S. says [that] such efforts run counter to United Nations sanctions on Iran for refusing to halt uranium enrichment. U.S. officials say [that] they suspect [that] Iran is trying to build a nuclear weapon, an act that would destabilize the Middle East.
Senator Barack Obama, an Illinois Democrat and presidential candidate, has introduced companion Iran legislation in the Senate.
Social change for the next generation
Young girl with infant child at refugee camp in Darfur. Photo by Dan Scandling, Office of U.S. Representative Frank Wolf