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UANI Calls for Further Action from European Oil Firms

NEW YORK, Oct 04, 2010 (BUSINESS WIRE) — United Against Nuclear Iran (UANI) today applauded the European oil firms Total, Statoil, Eni, and Royal Dutch Shell for pledging to comply with U.S. sanctions and end investments in Iran, but called for further action. These companies must end all business dealings in Iran.

It was reported last week by The Guardian that Royal Dutch Shell has continued its trade in crude oil with Iran. UANI calls on Royal Dutch Shell to clarify and make transparent the full extent and nature of its business in Iran.

Responding to the actions of these companies, UANI President, Ambassador Mark D. Wallace said:

We applaud Total, Statoil, Eni, and Royal Dutch Shell for ending their investments in Iran, but we call for further action. Total, Statoil, Eni, and Royal Dutch Shell must halt all business in Iran. By cutting off Iran’s access to oil and gas supplies and development capabilities, these companies can limit the funding that Iran can divert to its nuclear weapons program. These European firms must recognize that their decisions to conduct business in Iran affect Iran’s ability to develop nuclear weapons. In particular, Royal Dutch Shell must come clean and make transparent the full extent of and risks associated with its business in Iran.

UANI has been at the forefront of the campaign to pressure companies to end their business in Iran. UANI maintains on its website the Iran Business Registry (IBR), a list of companies that have been reported to do business in Iran. On January 12, 2010, UANI launched the “Iran Disclosure Project,” an initiative to identify publicly-traded companies that have business dealings in Iran and ensure that such companies adequately inform investors of the legal and financial peril associated with such dealings. Through the Iran Disclosure Project, UANI has targeted such companies as Royal Dutch Shell, Caterpillar, Ingersoll Rand, KPMG, and Honeywell to disclose the full extent of their business in Iran.

SOURCE: United Against Nuclear Iran (UANI)

United Against Nuclear Iran (UANI)
Kimmie Lipscomb, 212-554-3296
[email protected]

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