Banks can no longer finance cluster bombs

Banks can no longer finance cluster bombs

We have achieved the prohibition of financial investment in cluster munitions, anti-personnel mines and other weapons with similar effects.

A communication from the Delàs Center of Studies for Peace about the modification of the Law 33/1998 prohibiting antipersonnel mines and other arms with similar effects.

The Delàs Center of Studies for Peace, as an entity which has long promoted the campaign Stop Inversiones Explosivas (Stop investing in Explosives), we have the enormous satisfaction to announce that the campaign has been a success. We’ve achieved the total explicit prohibition of all financial investment of cluster bombs, antipersonnel mines and weapons with similar effects.

Thanks to the success of the Stop Explosive Investments campaign, Spain is now the 10th country to prohibit investments in cluster munitions.

The July 28th Law 27/2015, which modifies the Law 33/1998 prohibiting antipersonnel mines and arms with similar effects, now also prohibits investments in these arms.

The passing of this law is a new step forward in disarming and peace. Now, in addition to prohibiting the use, production, sale, purchase, or possession of cluster weapons as defined by a global agreement in 2008 signed by 107 countries, Spanish financial organizations will no longer be able to finance the production of these terrible weapons in countries which have still not signed the treaty.

The Delàs Center will continue working to denounce investments in the arms industry from the campaigns Banca Armada (Armed Banks), Disarm BBVA, Disarm BBVA, Disarm CaixaBank and Disarm Sabadell Bank.

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