Saturday, January 29, 2005

Halliburton pulling out of Iran 

Well, I really don't mean Halliburton; I mean their Cayman Islands subsidiary. But anyhow:

Halliburton Co. will pull out of Iran after its current contracts there are wound down, its chief executive said Friday.
Halliburton said in July that it had received a subpoena seeking information about operations in Iran of its Cayman Islands subsidiary, Halliburton Products & Services Ltd.

The company has argued that using a Cayman Islands subsidiary exempts it from a U.S.-imposed trade embargo against Iran, which is accused of seeking nuclear arms and funding terrorist networks.

Halliburton provided no details on when its current contracts in Iran would be completed or on the value of the work. The company generated about $80 million in revenue in Iran in 2003.
(via LA Times)

Gee, I wonder why Cheney's company is pulling out if Iran now? Could it be they know something we don't?

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