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Iowa Democratic Party: IDP renews call on Romney to divest himself from Sudan
10/31/2007

Are His Investments Consistent With His Values?

Contacts: Carrie Giddins/Chris Allen
Phone: 515-244-7292

Des Moines – Two and a half months ago, it was revealed that Republican presidential candidate Mitt Romney holds an investment valued at between $50,000 and $100,000 in a company that does business in the Sudan. The Sudanese government has been accused of sponsoring a genocide that has killed hundreds of thousands of people in the Darfur region.

At the time, Romney’s campaign refused to comment on his stock holdings but now the candidate himself refused to promise to divest from the Sudan. The former Governor says that he has instructed his business trustee to keep his investments “consistent” with his values but claims “that isn’t always possible.”

This year, Iowa joined nineteen other states in adopting plans requiring the state government to divest itself of any investments in companies doing business in the Sudan.

“Mitt Romney’s refusal to remove his investments from the Sudan raises disturbing questions about his candidacy,” said Carrie Giddins, Iowa Democratic Party Communications Director. “Presidential candidates need to show leadership and Romney has failed dramatically on this issue. Romney needs to answer the question of why it isn’t possible to keep his business investments out of a country with a government sponsoring genocide.”

Romney Refused to Promise Divestment from the Sudan.  “Julie Hays of Keokuk represented Keokuk for Darfur. She noted that Romney has divested his holdings in companies doing business in Iran and wants to know if he has or will do the same for companies doing business with Sudan. As governor, however, Romney had to turn over management of his investments to a trustee to avoid potential conflicts of interest. ‘I haven't managed my funds for four years,’ he said. He did say, however, ‘I've asked the trustees to keep my investments consistent with my values, but that isn't always possible.’” [Keokuk Daily Gate City, 10/29/07]

Iowa Adopted Sudan Divestment Plan. “Iowa has joined seven other states in adopting a Sudan divestment plan. Gov. Chet Culver signed a bill Wednesday that requires Iowa's public employee pension funds to sell stocks of companies doing business in the war-torn African nation.” [Des Moines Register, 4/6/07]

Romney Holds Stock in Company Doing Business in Sudan. “Republican presidential hopeful Mitt Romney divested from companies doing business in Iran, but he still holds stock in an oil company that does business in Sudan -- where the government is accused of sponsoring genocide -- his financial disclosure report filed Monday shows… According to the report, Romney holds stock in China Petroleum and Chemical (also known as SinoPec), an oil supply company that has dealings in Sudan, according to an organization dedicated to ending the genocide in the African nation's Darfur region... Romney's stock in the company is valued at $50,000 to $100,000.” [LA Times, 8/14/07]

Company Has Major Operations in Sudan. “The Washington-based Genocide Intervention Network has said the Chinese company has major operations in Sudan and is one of the companies from which people should divest if they are concerned about genocide in Darfur.” [LA Times, 8/14/07]

Romney Campaign Refused to Comment on Investment. “Romney spokesman Kevin Madden, declining to discuss any single investment.” [LA Times, 8/14/07]


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