FOR IMMEDIATE RELEASE
May 16, 2014
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UANI Applauds France's Nexans for Ending Business in Iran in Response to UANI's Iran Oil Show Campaign
UANI Calls on German Firm Leoni to Follow Suit
New York, NY - On Friday, United Against Nuclear Iran (UANI) applauded French manufacturer Nexans for ending its business in Iran.
On Monday, UANI called on attendees of the annual Oil, Gas, Refining and Petrochemical Exhibition ("Iran Oil Show") held in Tehran from May 6 to May 9 to fully disclose the nature and extent of their Iran business activities. UANI specifically highlighted the attendance of Nexans, a company with a significant U.S. business presence, and questioned its decision to participate in an exhibition for Iran's most sanctioned sector.
In discussions with UANI, Nexans confirmed that its representatives had attended the Iran Oil Show, and said, "We appreciate that the mere fact of advertising on Iran or having contacts with Iran ... may be badly perceived by third party observers." Consequently, Nexans stated, "We have made the decision to instruct our subsidiaries to suspend any such contacts with Iran, including agents, for the time being until the political and legal situations come back to normal so as to avoid creating or raising any query, concern or stir from the community, our business partners or stakeholders."
Said UANI CEO, Ambassador Mark D. Wallace, today:
We applaud Nexans for halting its Iran business. There remain severe reputational, financial and legal risks associated with Iran business, particularly in sectors of the Iranian economy such as oil and gas that remain under comprehensive multilateral sanctions. In light of such risks it should be clear to all responsible companies that Iran is not open for business.
UANI now calls on all firms that attended the Iran Oil Show to follow the responsible lead of Nexans and end their business in Iran. It is unacceptable for companies to participate in an exhibition for Iran's most sanctioned sector.
On Wednesday, UANI called on the German industrial firm Leoni to fully disclose the nature and extent of any Iran business activities in light of the company's reported attendance at the Iran Oil Show.