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Article

18 Dec 2007

Author:
Susan Cornwell, Reuters

US Congress passes Sudan divestment bill

The U.S. Congress pressed for an end to the violence in the Darfur region by passing legislation on Tuesday to help investors who want to shed their holdings in companies doing business in Sudan. The House of Representatives voted 411-0 to back the measure that aims to shield state and local governments, mutual funds and private pension funds from investor lawsuits if they divest shares of companies active in Sudan's oil, mining, power and military equipment industries. It also denies federal contracts to companies involved in Sudan's oil, mining, power, and military equipment industries. [refers to Petronas, Oil and Natural Gas Corp, PetroChina, China National Petroleum Corp]