NEW YORK CITY (VINnews) – New York City Comptroller Mark Levine on Wednesday pushed back against pressure to divest from Israel bonds, calling the investments a sound financial decision with a flawless 70-year payment record and rejecting claims that they are politically motivated.

Levine, a Democrat who oversees the city’s massive pension funds, emphasized that Israel bonds have never missed a single payment in seven decades of issuance.

“This is not political. It shouldn’t be political,” Levine said. “Israel bonds have never missed a payment in 70 years, ever, not once.”

His comments came in response to Mayor Zohran Mamdani’s urging to end the city’s holdings in Israel bonds, part of a broader push by some progressive leaders to divest amid the ongoing Israel-Hamas war.

Levine noted the selective criticism, pointing out that the city’s portfolio includes investments in Saudi Arabia, Pakistan and China without drawing similar protests.

“And by the way, we’ve had no protesting about our investments in Saudi Arabia, our investments in Pakistan or China — only this one little, tiny sliver,” he said.

The Israel bonds in question are part of New York City’s pension investments, which total hundreds of billions of dollars and support public employees’ retirements. Proponents argue the bonds represent a stable, reliable asset backed by a strong U.S. ally with a robust economy and history of honoring its debt obligations.

Critics, including Mamdani, have framed the investments as implicit support for Israeli policies in Gaza, where the conflict has resulted in significant casualties and humanitarian challenges. However, Levine maintained that fiduciary duty to city workers and retirees must take precedence over political considerations.

New York City’s financial decisions have long reflected strong economic ties with Israel, a democracy and key trading partner in the Middle East. Israel bonds have historically offered competitive returns and served as a vote of confidence in Israel’s resilience amid regional threats.

Levine’s defense highlights a broader debate in municipal finance: whether pension investments should prioritize pure financial performance or incorporate activist demands for divestment from certain nations. Supporters of the status quo, including many in the Jewish community and pro-Israel advocates, argue that singling out Israel sets a dangerous precedent and ignores worse human rights records elsewhere.

As of recent filings, New York City’s pension funds hold a modest allocation in Israel bonds relative to its overall portfolio, reflecting a long-standing relationship that has benefited taxpayers through consistent performance.

Levine’s stance aligns with New York City’s traditional role as a center of finance and a hub for strong U.S.-Israel relations, even as national politics grow increasingly polarized on the issue.