Bush Signs Sudan Divestment Bill

CRAWFORD, Texas (AP) -- President Bush signed legislation Monday to allow states and local governments to cut investment ties with Sudan because of the violence in Darfur.

The bill permits state, county and municipal officials to adopt measures to divest their government investments from companies involved in the four sectors that provide vital revenue for Sudan's government - oil, power production, mining and military equipment.

"I share the deep concern of the Congress over the continued violence in Darfur perpetrated by the government of Sudan and rebel groups," Bush said in a statement.

Bush's administration has raised objections to letting state and local governments adopt divestment policies that delve into foreign policy, a traditional federal role.

The president noted those concerns again Monday. Nevertheless, he agreed to signed the bill, which was approved with strong support in Congress.

Bush said the bill "risks being interpreted as insulating from federal oversight state and local divestment actions that could interfere with implementation of national foreign policy."

He emphasized that the Constitution gives the federal government the authority handle foreign relations, and that the "executive branch shall construe and enforce this legislation in a manner that does not conflict with that authority."

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

CRAWFORD, Texas (AP) - President Bush signed legislation Monday to allow states and local governments to cut investment ties with Sudan because of the violence in Darfur.

The bill permits state, county and municipal officials to adopt measures to divest their government investments from companies involved in the four sectors that provide vital revenue for Sudan's government - oil, power production, mining and military equipment.

"I share the deep concern of the Congress over the continued violence in Darfur perpetrated by the government of Sudan and rebel groups," Bush said in a statement.

© 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy.