Governor Abbott Issues Directive On Iran Divestiture Policy

January 20, 2016 | Austin, Texas | Press Release

Governor Greg Abbott today sent a letter to Texas retirement agencies informing them that it will continue to be the policy of the State of Texas to prohibit the investment of taxpayer dollars in Iran despite President Obama’s announcement last week that he is lifting sanctions against Iran.

“These sanctions have and will continue to ensure that Texas does its part to prevent taxpayer dollars from aiding and abetting a country that is openly hostile to the United States and its allies abroad,” writes Governor Abbott. “Consequently, I am directing your agency to continue the divestment policy required by the Prohibition on Investment in Iran Act.”

Governor Abbott went on to point out that, “Although current Texas law states that Texas’ sanctions expire if the U.S. revokes its sanctions against Iran, the President’s recent actions to lift some sanctions against Iran do not trigger this provision. While the agreement negotiated—and now implemented—by the President lifts nuclear-related sanctions against Iran, other non-nuclear related sanctions imposed by the United States remain in place.”

The following agencies received Governor Abbott’s letter:

  • The Employees Retirement System of Texas
  • The Teacher Retirement System of Texas
  • The Texas Municipal Retirement System
  • The Texas County and District Retirement System
  • The Texas Emergency Services Retirement System