May 29, 2003: Halliburton, Other US Firms Defying Government Law Prohibiting Business With Iran

CNN reports that despite US government prohibitions (see March 15, 1995 and May 6, 1995) banning US citizens and business from doing business with Iran, dozens of US companies are actively conducting business there, including Halliburton, ConocoPhillips and General Electric. The companies are using a complicated array of corporate loop-holes and off-shore accounts to maneuver around US laws. Michael Ledeen, interviewed by CNN, says these companies are aiding terrorism. “The oil companies are a wholly owned subsidiary of the government… the government is the primary sponsor of terrorism,” he says, additionally claiming that “they have separate organizations that are used to funnel oil profits and other profits into the terror network.” [CNN, 2/10/2003; CNN, 5/29/2003]