Iran Divestment Act by Department of The Treasury of New Jersey
The Iran Divestment Act, managed by the Department of the Treasury of New Jersey, aims to prevent state investment in companies doing business with Iran. This law encourages compliance by requiring businesses to disclose their investments related to Iran. By adhering to this act, organizations can help promote responsible practices and reduce the risk of supporting illicit activities. Compliance with the Iran Divestment Act is essential for maintaining ethical and legal standards in business operations.
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40 Entities in Iran Divestment Act by Department of The Treasury of New Jersey
| Entity Name | Entity Type | Effective Date | Status |
|---|---|---|---|
Sinopec Engineering Group Co Ltd | Company | Mar 1, 2024 | active |
Sumitomo Corporation c | Company | Mar 3, 2025 | active |
Japan Tobacco Inc c | Company | Mar 1, 2022 | inactive |
Sasol Ltd c | Company | Mar 3, 2025 | active |
Siemens AG common stock c | Company | Mar 1, 2023 | inactive |
Siemens AG common stock c | Company | Mar 3, 2025 | active |
PetroChina Co Ltd | Company | Mar 1, 2024 | active |
Hyundai Heavy Industries Co Ltd c | Company | Mar 3, 2025 | active |
China Petroleum Chemical Corp | Company | Mar 1, 2024 | active |
Bureau Veritas c | Company | Mar 3, 2025 | active |
FAQs
Why is compliance with the Iran Divestment Act by Department of The Treasury of New Jersey necessary?
Compliance with the Iran Divestment Act by the Department of the Treasury of New Jersey is essential to uphold national security and economic integrity. This legislation aims to prevent financial support to Iran, particularly regarding its involvement in terrorism and nuclear proliferation. By adhering to these sanctions, entities help safeguard U.S. interests and reinforce international efforts to promote peace and stability. Non-compliance not only risks significant penalties but also undermines the collective goal of deterring harmful activities associated with Iran.
Which companies should comply with Iran Divestment Act by Department of The Treasury of New Jersey?
Companies in sectors such as finance, energy, and technology must comply with the Iran Divestment Act enforced by the Department of the Treasury of New Jersey. This compliance is essential to avoid potential penalties and maintain eligibility for state contracts. By divesting from certain Iranian entities, these companies also promote ethical business practices and align with national security interests.
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