Halliburton and U.S. Business Ties to Iran: Hearing Before the Subcommittee on Interstate Commerce, Trade, and Tourism of the Committee on Commerce, Science, and Transportation, United States Senate, One Hundred Tenth Congress, First Session, April 30, 2007 [open pdf - 147KB]
From the opening statement of Hon. Byron L. Dorgan, U.S. Senator from North Dakota: "Today's hearing is intended to examine the question of whether U.S. corporations should be able to do business in countries that are prohibited, countries with whom we have economic sanctions. Particularly in this case we will talk about Iran, but other countries are involved as well. Should U.S. corporations be able to do business in these countries through their foreign subsidiaries? We have a number of countries that are subject at this point to sanctions, the countries of Cuba, Iran, North Korea, Sudan, Syria, for example. This country has passed legislation dealing with a number of these countries. With the country of Iran, we have passed the Iran Sanctions Act. In a number of cases, we know from information that we have received and we know from public published reports that American-chartered corporations have done business through the exceptions that exist with a number of these countries. Let me speak especially about the country of Iran for the moment, but it applies, as I understand it, to other countries as well. When our country with a foreign policy objective establishes sanctions against another country, a prohibited country, suggesting that for foreign policy reasons we want to prohibit certain economic activity and certain connections between our country and theirs, in order to, through economic sanctions, apply some pressure and some injury to a country for behaving in a manner that is not consistent with the manner that we determine appropriate."
S. Hrg. 110-101; Senate Hearing 110-101
Government Printing Office, Congressional Hearings: http://www.gpoaccess.gov/chearings/index.html