DEMOCRATS SLAM TOM MACARTHUR'S CONTINUED PROFITEERING FROM DIRECT INVESTMENTS IN FOREIGN OIL


Dividend Check for $66,000 Delivered to Campaign Headquarters

(Bayville, NJ) – More than a week after Democratic congressional candidate and Burlington County Freeholder, Aimee Belgard, called on her Republican opponent to divest from his extensive assets in foreign oil, residents of New Jersey's 3rd congressional district remain frustrated by his refusal to do so. Today, a group of New Jersey Democrats gathered in front of Tom MacArthur's campaign headquarters to symbolically showcase the price of inaction.

“It’s a simple question: does Tom MacArthur support United States interests or does he prefer to profiteer off direct investments in the foreign energy sector?” asked New Jersey Democratic State Committee Chairman John Currie. “He refuses to divest his holdings, so I think the answer is clear. Despite the diplomatic tension with Russia and throughout the Middle East, Tom MacArthur continues to let his concern for his financial investments trump trump American interests and values. That’s unacceptable for someone aspiring to public office.”

MacArthur, who has been dodging divestment questions, owns up to $115,000 of direct investments in overseas oil companies including Russia's state-owned oil company, Gazprom, the Chinese National Offshore Oil Corporation (CNOOC), and a Russian oil company called Lukoil.

Earlier today, protesters presented the multimillionaire and former insurance CEO's campaign with a mock check for the up to $66,000 in dividends he received from the three foreign oil companies in which he has assets.

“So long as MacArthur keeps getting dividend checks from these oil companies, the people of the 3rd Congressional District cannot trust him to stand up for energy independence, the environment or American foreign policy,” said Dawn Jeronowitz a Democratic volunteer.

As Russian officials cut off natural gas supplies to U.S.-allied Ukraine, Gazprom, a state-owned Russian oil company, seeks to expand into the Islamic Republic of Iran. In fact, this month Russia and Iran signed a memorandum of understanding to expand trade and economic cooperation in a number of areas, including the oil and gas sector. Gazprom has, reportedly, been pushing for a return to the Iranian market since February, disregarding the strong sanctions against Iran put in place by the US and the European Union.

Meanwhile, CNOOC, a Chinese state-owned oil company, has been ignoring international sanctions and collaborating with Iran for years. In 2008, the National Iranian Oil Company agreed to a development plan for Iran's huge North Pars gas field with CNOOC. The $16 billion contract will allow the Chinese company to produce as much as 1.2 billion cubic feet a day of gas.

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BACKGROUND:

MacArthur owns up to $50,000 worth of American Depositary Receipts (ADRs) in OAO Gazprom. According to his Personal Financial Disclosure filed in May 2014, MacArthur owns between $15,001 and $50,000 worth of OAO Gazprom Level 1 ADRs. [Clerk of the House, Personal Financial Disclosure filed 5/30/14]

MacArthur Received Up to $1,000 in Dividends from Gazprom. According to his Personal Financial Disclosure, filed in May 2014, MacArthur had not received any income in the current year from his investments in Gazprom, but received between $201 and $1,000 in dividends in the previous year. [Clerk of the House, Personal Financial Disclosure filed 5/30/14]

MacArthur owns up to $50,000 worth of American Depositary Receipts (ADRs) in the Chinese National Offshore Oil Company (CNOOC). According to his Personal Financial Disclosure filed in May 2014, MacArthur owns between $15,001 and $50,000 worth of American Depositary Receipts (ADRs) in the Chinese National Offshore Oil Company (CNOOC). [Clerk of the House, Personal Financial Disclosure filed 5/30/14]

MacArthur Received Up to $1,000 in Dividends from CNOOC. According to his Personal Financial Disclosure, filed in May 2014, MacArthur had not received any income in the current year from his investments in CNOOC, but received between $201 and $1,000 in dividends in the previous year. [Clerk of the House, Personal Financial Disclosure filed 5/30/14]

MacArthur owns up to $15,000 worth of American Depositary Receipts (ADRs) in Lukoil, another Russian oil company. According to his Personal Financial Disclosure filed in May 2014, MacArthur owns between $1,001 and $15,000 of stock in Lukoil sponsored ADRs. [Clerk of the House, Personal Financial Disclosure filed 5/30/14]                                                                                                                                                                  
MacArthur Received Up to $2,500 in Dividends and Capital Gains from Lukoil. According to his Personal Financial Disclosure, filed in May 2014, MacArthur had not received any income in the current year from his investments in Lukoil, but received between $1,001 and $2,500 in dividends and capital gains in the previous year. [Clerk of the House, Personal Financial Disclosure filed 5/30/14]

Gazprom Cut off Ukraine’s Natural Gas Supply. In June 2014, following clashes between the Ukrainian government and pro-Russian separatists, Gazprom cut off natural gas supplies to the Ukraine. The company cited Ukraine’s failure to meet a Russian-imposed deadline to pay nearly $2 billion for past gas deliveries. [New York Times, 6/16/14]

CNOOC Signed a $16 Billion Agreement with the National Iranian Oil Company. In 2008, CNOOC signed a $16 billion agreement with the state-owned National Iranian Oil Company to develop an offshore natural gas field in Iran. [Dow Jones Newswire, 11/12/08]

MacArthur Received Up To $66,000 in Income from Foreign Oil Investments. On his Personal Financial Disclosure filed in May 2014, MacArthur reports  between $20,700 and $66,200 in previous year income from assets in oil companies based outside the United States. [Clerk of the House, Personal Financial Disclosure filed 5/30/14]

Gazprom and Lukoil Have Shown Interest in Iranian Markets. In August 2014, Iran and Russia signed a memorandum of understanding in which both countries agreed to expand trade and economic cooperation in a number of areas, including the oil and gas sector. According to Russian news agency ITAR-TASS, both Gazprom and Lukoil have shown interest in the Iranian market. [ITAR-TASS, 8/5/14]

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