Some of the nation’s largest public pension funds are pressuring European and Asian oil companies to divest from Iran.
Funds from New York, California, North Carolina and Illinois sent letters to eight foreign energy companies working in Iran citing the potential harm to their investments due to international sanctions. The funds have $3.7 billion in assets invested in Iran.
The letters were sent to chief executives of Royal Dutch Shell, Total of France, Repsol of Spain, Eni of Italy, Gazprom of Russia, China National Petroleum Corporation, the Oil and Natural Gas Corporation of India and Inpex Corporation of Japan.
