Increased American Business in Iran

The New York Times reports: The US Federal Government has granted $107 billion to US-based companies and their subsidiaries to invest in Iran since the enactment of Iran-Libya Sanctions Act 1996,despiteofficial pronouncements discouraging such investment from Western multinationals. In a stunning exposé, it was discovered that the federal government paid $15 billion to companies that assisted Iran to develop its enormous gas and oil reserves in contravention of the Iran-Libya Sanctions Act.

While the Bush administration increased the rhetoric and pressure on Iran, figures show that American trade with Iran increased tenfold under President George W. Bush’s years in office.

See:

US Enriches Companies Defying Its Policy on Iran

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