Benny Kanter (3M Company)
Iran: Legal Rights & Moral Dilemma
Corporate Counsel Institute 2007
Footnotes
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Iranian Transactions Regulations, 31 C.F.R. § 560 (2000).
Id.
There is a legal method of exporting U.S. goods to Iran called the “coming to rest exception”. If
inventory shipped to a foreign subsidiary with the purpose of being sold anywhere but Iran has
“come to rest”, then it can be lawfully exported by the foreign subsidiary to Iran. The U.S.
facilitation rules still apply to the transaction which means that parent company cannot know of
the sale.
The American Enterprise Institute for Public Policy Research, Global Business in Iran,
http://www.aei.org/iraninteractive/ (AEI compiled its data using periodicals, corporate reports,
websites and other open-source information).
Daniel Southerland, Oil firms say Iran Ban inconvenient, WASH. POST, Jun. 8, 1995, at B10.
Id.
Henry Goldman, Halliburton won’t seek Iran work, BLOOMBERG NEWS, Mar. 25, 2005, at E02.
Kathryn Kranhold & Carla Ann Robbins, GE to Stop Seeking Business in Iran, WALL ST. J.
ONLINE, Feb. 3, 2005, http://online.wsj.com/article/SB110739126912944419search.html?collection=wsjie%252F30day&vql_string=halliburton%253Cin%253E, GE halts new
business orders in Iran, MSNBC, Feb. 2, 2005, http://www.msnbc.msn.com/id/6901492/ (GE’s
revenue in Iran represented at the time 1% of its global revenue for the year).
Daniel Gross, The Ghosts of 9/11 vs. the Axis of Evil, SLATE, Mar. 21, 2003,
http://www.slate.com/id/2080656/. See generally 60 Minutes: Doing Business with the Enemy,
CBS NEWS, Aug. 29, 2004,
http://www.cbsnews.com/stories/2004/01/22/60minutes/main595214.shtml.
U.S. Businesses Trade with Iran despite Sanctions, CNN, May 29, 2003,
http://edition.cnn.com/TRANSCRIPTS/0305/29/se.17.html.
Jad Mouawad, US funds pressure oil companies over their Iran links, INT’L HERALD TRIB., Jul.
25, 2007, http://www.iht.com/articles/2007/07/25/bloomberg/links.php.
Supra note 6.
H.R. Res. 1400, 110th Cong. (2007), H.R. Res. 957, 110th Cong. (2007).
S. Res. 970, 110th Cong. (2007).
S. Res. 1234, 110th Cong. (2007).
Jonathan Schanzer & Howard Slugh, Let States Divest from Iran, BALT. SUN, Jul. 26, 2007,
http://www.baltimoresun.com/news/opinion/oped/bal-op.iran26jul26,0,2575652.story.
Jim Abrams, Bill Supports Divestment in Iran, FORBES.COM, Jul. 31, 2007,
http://www.forbes.com/feeds/ap/2007/07/31/ap3971891.html.
Legislative Developments in Export Controls and Economic Sanctions, LATHAM & WATKINS
CLIENT ALERT (Latham & Watkins, Los Angeles, CA), Jul. 9, 2007.
Closing a ‘Loophole’, House Committee Approves Tighter Iran Sanctions Bill,
CQ TODAY, Feb. 15, 2007 (statement of Representative Brad Sherman) (“We
should prevent these Benedict Arnold policies from being carried out by U.S.
corporations through their subsidiaries”).