(JTA) — The Chicago City Council urged the city’s largest employee pension fund to divest from Iran.
The council unanimously approved a non-binding resolution this week that encouraged the Municipal Employees Annuity and Benefit Fund of Chicago to divest from companies doing business with Iran’s energy sector. Divestment would be gradual.
If the fund follows through, Chicago would join New York City, Washington and 11 other US cities in divesting from businesses involved in Iran. A number of states also have divested from Iran or are considering legislation that would do so.
The Chicago-area Jewish Community Relations Council lobbied to pass the resolution. B’nai B’rith International praised the work of the Chicago City Council.
“Chicago’s city government has set an important example for other municipalities to get on board to isolate Tehran,” B’nai B’rith President Allan Jacobs, a resident of the Chicago suburb of Lake Forest, Ill., said in a statement. “Sanctions are working. Resolutions such as this are helping unite local governments as well as the global community in a cohesive effort to isolate Iran.”
The Times of Israel covers one of the most complicated, and contentious, parts of the world. Determined to keep readers fully informed and enable them to form and flesh out their own opinions, The Times of Israel has gradually established itself as the leading source of independent and fair-minded journalism on Israel, the region and the Jewish world.
We've achieved this by investing ever-greater resources in our journalism while keeping all of the content on our site free.
Unlike many other news sites, we have not put up a paywall. But we would like to invite readers who can afford to do so, and for whom The Times of Israel has become important, to help support our journalism by joining The Times of Israel Community. Join now and for as little as $6 a month you can both help ensure our ongoing investment in quality journalism, and enjoy special status and benefits as a Times of Israel Community member.