Wall Street Journal Reports on Increased Difficulties Faced by U.S. Companies Doing Business in Sanctioned Countries
Today's Wall Street Journal reports on the increasing pressures faced by U.S. companies that continue to do business in Iran:
American companies that do business with countries subjected to U.S. trade sanctions face increasing financial and political pressure to stop as tensions between Iran and the United Nations Security Council worsen.
As a result, many companies are severing connections -- or plan to when current contracts end -- with customers in the 13 countries or regions penalized after the U.S. accused them of supporting terrorism, human-rights abuses or other unacceptable behavior.
The clamor spotlights how scores of U.S.-based companies manage to do business in sanctioned countries either through offshore subsidiaries or using export licenses granted by the Treasury Department. After seeing this traffic grow briskly for several years, companies now find lawmakers stepping up efforts to tighten restrictions and shareholders and fund managers steering investments away from countries in Washington's doghouse.
Labels: Sanctions; Iran