Halliburton's business dealings in Iran: Waxman’s and Thompson’s complaints revolve around a Halliburton subsidiary called Halliburton Products and Services, which is based in Dubai and registered in the Cayman Islands, a tax haven in the Caribbean. As the Financial Times first reported, the subsidiary opened an office in Tehran in February 2000, when Cheney was still CEO of Halliburton. The subsidiary has sold $40 million worth of oil services in Iran.
Thompson, who is acting on behalf of the city’s pension funds, has asked Halliburton for clarifications about its business dealings in Iran, a country listed by the American government as a sponsor of terrorism and thus subject to stringent U.S. trade sanctions. Thompson claims that Halliburton has been using its subsidiary to circumvent a 1995 executive order barring American companies from doing business with Tehran.
posted by hoder on Jul 7, 2004 - 5 comments