"ExxonMobil did business with Iran, Syria and Sudan through a European subsidiary while President-elect Donald Trump’s nominee for
According to an Iran Notice filed with the SEC in 2013: "The captioned Act was signed by President Obama on August 10, 2012. Among other things, the Act extended the prohibition against U.S. persons doing business with the Government of Iran to include such persons’ non-U.S. subsidiaries. Previously, non-U.S. subsidiaries were not covered by this restriction. Application of the restriction to non-U.S. subsidiaries took effect on October 10, 2012. The Act also requires registrants to disclose, in their annual and quarterly reports, activities covered by the Act which occurred anytime during the period covered by the report, even if such activities occurred prior to the effective date of the Act and were permitted at the time.
During the period from January to September, 2012, ExxonMobil’s majority-owned Canadian affiliate, Imperial Oil Limited (IOL), made several fleet sales of motor fuel with an aggregate total sales price of approximately 11,000 Canadian dollars to the Iranian Embassy in Canada. IOL’s net profits attributable to these sales were less than 500 Canadian dollars. The sales were made without the involvement of any U.S. person and were permitted by U.S. laws in effect at the time. No sales occurred after the October 10, 2012, effective date, and we do not expect any such sales to occur in the future."
"An AP review of corporate SEC filings found dozens of companies that have done business in Iran in recent years or said their products or services may have made it there through other channels. Some are household names: PepsiCo, Tyson Foods, Canon, BP Amoco, Exxon Mobil, GE Healthcare, the Wells Fargo financial services company, Visa, MasterCard and the Cadbury Schweppes candy and beverage maker." (Associated Press, "From bull semen to bras, Iran still buys American," 7/9/08)
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