U.S. Lobbies Foreign Firms Against Doing Business with Iran

(Reuters) Stuart Levey, the U.S. Treasury Undersecretary for Terrorism and Financial Intelligence, has been successful in persuading foreign banks to cut ties with Iran. Now, he is widening his focus to include service providers, insurers and manufacturers. "We view the business community as an ally....We have information regarding Iranian illicit conduct that they might not have, and we provide them with the advantage of our viewpoint so they can better assess their own risks," Levey said in an interview. "There is a tide setting in against doing trade with Iran and it is just becoming more difficult for everyone involved," said Philip Roche, a London-based lawyer. "As a result of our efforts to impose additional multilateral sanctions on Iran, as well as Iran's own defiance, international companies are increasingly coming to the correct conclusion that the risks of doing business with Iran are high and have announced that they are withdrawing from Iran," White House National Security Council spokesman Mike Hammer said.

2010-05-14 08:33:02

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