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Turkish divestment bill passes California Assembly

panarmenian.net05/24th/2019, 11:48

Turkish divestment bill passes California Assembly

May 24, 2019 - 15:47 AMT

PanARMENIAN.Net - AB 1320, the Divestment from Turkish Bonds Act, passed the full California Assembly floor 59-0. Last year, the State Senate and Assembly passed the Divestment from Turkish Bonds Act but the bill was vetoed by former Governor Jerry Brown.

California has a long history of divesting from countries that violate human rights, South Africa (apartheid policy), Sudan (Darfur genocide), and Iran (international terrorism, human rights violations). A divestment from Turkish bonds over Turkey’s denial of the Armenian Genocide, the continued funding of a campaign of genocide denial, and the recent erosion of democratic principles would send a clear message internationally that California, the fifth largest economy in the world, demands justice for 1.5 million Armenians killed.

“California is sending a clear message to Turkey to stop their deceitful campaign of genocide denial,” stated Assemblymember Adrin Nazarian.

AB 1320 prohibits the boards of the California Public Retirement System (CalPERS) and California State Teachers' Retirement System (CalSTRS) from making additional or new investments, or renewing existing investments issued, owned, control...

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