Last Updated:December 1 @ 04:43 pm

Report: Treasury OK'd US business with Iran


WASHINGTON (AP) -- The New York Times is reporting that the Treasury Department has granted nearly 10,000 exceptions to American companies over the past decade so that they could skirt U.S. sanctions on Iran and other countries the U.S. considers sponsors of terror.

The newspaper says companies such as Kraft Food and Pepsi, and some large U.S. banks, benefited. Most licenses were granted under a law allowing trade in humanitarian goods, even if that included products such as cigarettes and chewing gum.

The story was posted on the Times' website Thursday. It said one American company could bid on a pipeline job to help Iran sell natural gas to Europe although the U.S. opposes such deals. Other companies were permitted to deal with Iranian companies suspected of terrorist involvement or weapons proliferation.

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1 Comment

  1. BillzillaComment by Billzilla
    December 24, 2010 @ 11:38 pm

    What a farce these sanctions are, especially when companies with deep pockets can hire well connected lobbyists to grease the skids with campaign contributions and free perks to our government officials. Everyone of our government officials who’ve granted exceptions or who’ve been involved in the process should be tried for violating our laws, and granting aid and comfort to our enemies..

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