Illinois investments overseen by the state treasurer are officially divested from Iran.
Illinois State Treasurer Dan Rutherford this week certified that the state’s investment portfolio is clean of investments from Iran. That includes, but is not limited to, oil, petroleum and mineral extraction activities.
Rutherford says divestiture from Iran makes fiscal sense for the state. “I am not to use the treasury for international government purposes, [it’s] very clear,” Rutherford said. “My responsibility is to ensure the treasury of Illinois is secure, is available for liquidity and has some return and in doing that, what I have decided, and very clearly, is that a part of the security of the state portfolio is the fact on where our investments are put and in particular those that touch or could touch Iran.”
It has special meaning for Rutherford, who began efforts while he was in the Illinois General Assembly to see the state divest from Iran. “I am proud to be able to declare that all state funds under my authority are in no way assisting Iran’s continuing drive for nuclear weapons, in flagrant violation of international law,” Rutherford said.
Rutherford oversees $15 billion in investments for the state and municipalities.