If you do business with terrorists, if
you support them or sponsor them, you will not do business with the
United States of America - George W. Bush, Nov. 7, 2001
In order to comply with terrorist sanctions law, neither Halliburton (the U.S. parent company) nor any of its U.S. subsidiaries here or overseas can engage in any decision making with regard to, or become involved in, business transactions between the foreign subsidiary – Halliburton Products and Services – and Iran. The foreign subsidiary must be truly independent in order to legally take advantage of the loophole.
After initially closing an investigation of Halliburton in early 2001, the Treasury Department’s Office of Foreign Assets Control reopened the case in January 2004, after CBS News’ 60 Minutes broadcast an expose of Halliburton Products and Services’ longtime business practices with Iran.
In February 2004, Senator Lautenberg’s office provided Treasury Department investigators with suspicious documents (published in this report) that indicate that the Iranians had certain named contacts at Halliburton in 1997 and 1998, when Dick Cheney was CEO. The documents were significant because it was unclear whether these contacts were employed by a U.S. subsidiary, KBR, or the foreign subsidiary, Halliburton Products and Services Limited. As discussed in this report, those two subsidiaries share an office, phone and fax lines in Dubai, United Arab Emirates.
Full Report
http://72.14.209.104/search?q=cache:OwEJhOIjjYoJ:www.iranwatch.org/government/US/Congress/Letters-reports/us-congress-lautenbergreport-halliburton-0205.pdf+Iran+Sanctions+loophole&hl=en&gl=us&ct=clnk&cd=2
Download us-congress-lautenbergreport-halliburton-0205.pdf (5.3mb)
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