Scottish council pension funds exposed to Iranian drone strike on UAE oil terminal
By
Paul Dobson
1mo ago· 5 min readenNews
Summary
An investigation by The Bureau of Investigative Journalism (TBIJ) reveals that four Scottish council pension schemes have invested hundreds of millions of pounds into an investment vehicle that co-owns the VTTI Fujairah oil terminal in the UAE. This facility was struck by Iranian drone strikes on May 4 during attacks on energy infrastructure, potentially impacting thousands of Scottish council workers' pensions.
Source
bskyScottish council pension funds exposed to Iranian drone strike on UAE oil terminaltheferret.scotKey quotes
· 3 pulledCouncil workers in Scotland have their pensions invested in a Middle Eastern oil terminal that was battered by Iranian drone strikes last month, an investigation has revealed.
The Bureau of Investigative Journalism (TBIJ) – which shared its findings with The Ferret – found council pension schemes in north east Scotland, the Borders, Shetland and Orkney have ploughed hundreds of millions of pounds into an investment vehicle that co-owns an oil facility in the United Arab Emirates.
The oil terminal – VTTI Fujairah – was struck by drones on 4 May during Iranian attacks on energy infrastructure.
Four Scottish council pension funds are invested in an oil facility targeted by Iranian drones.
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