Many investors familiar with the U.S. Treasury's traditional commitment to open markets don't expect it to recommend an adverse ruling. A 1997 presidential order that invoked the Sudan sanctions prohibits U.S. companies and individuals from financing projects in the African country but says nothing about U.S. investors buying the stock of foreign companies operating there. At that time, scores of U.S. pension funds refused to invest in any company with substantial holdings in South Africa. CNPC's restructuring plans might help clear the way to a U.S. equity offering, but they aren't likely to satisfy the concerns of the U.S. human-rights groups. It's a joke.
Money is fungible.
She says that even if the CNPC offering goes through, U.S. church and humanitarian groups will continue to campaign against foreign investments in Sudan. Yihe of Dow Jones Newswires contributed to this story. All copyrighted material belongs to its respective owners, and is provided solely for educational purposes of the reader.