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New York State legislature prohibits companies from doing business with Iran
NDTV ^ | 10 Jan 2012 | PTI

Posted on 01/10/2012 5:56:16 PM PST by Fitzy_888

Federal law authorises state and local governments to divest from companies whose interests in Iran's energy sector directly or indirectly support its pursuit of nuclear weapons.

The New York state legislature has passed a bill prohibiting companies doing business with Iran's energy industry from entering into contracts with the state.

The bill called the 'Iran Divestment Act' was sponsored by Senate Majority Leader Dean Skelos.

It would prohibit companies that provide goods, services or credit worth USD 20 million or more to Iran's energy industry from entering into or renewing state and local government contracts.

"The Senate's swift action shows how important it is that we stand together to condemn tyrannical governments like Iran which sponsor terrorism, have attempted to acquire nuclear weapons and threaten US allies like Israel, as Iran has repeatedly done," Skelos said.

Federal law authorises state and local governments to divest from companies whose interests in Iran's energy sector directly or indirectly support its pursuit of nuclear weapons.

The divestment would apply to companies engaged in oil or natural gas development in Iran, as well any company found to be directly involved in nuclear power.

(...)

(Excerpt) Read more at profit.ndtv.com ...


TOPICS: Foreign Affairs; Government; News/Current Events; US: New York
KEYWORDS: iran; newyork; ny; siemens
“Löscher and his advisers normally like to boast about how they are role models when it comes to global business ethics. Nevertheless, they allowed July 1, the day the company stopped accepting orders from Iran, to pass without further comment. It was probably a good idea, in light of what allegedly happened a few days later at Frankfurt Airport, in a scene that hardly seems to fit to Siemens' image as a trailblazer in the art of ethical deals. According to customs officials at the airport, they intercepted a shipment of Siemens parts, including switches, switching components and computer modules, destined for a Russian customer. German authorities say that the Russian customer was supposed to forward the Frankfurt shipment through Moscow to its final destination, Iran's controversial nuclear reactor in Bushehr.” -Der Spiegel, August 9, 2010

“A year after German engineering giant Siemens AG pledged to retreat from Iran under international pressure, it is grappling with a thorny problem: a big jump in revenue in the Islamic republic.” -Siemens Business Surges in Iran, Wall Street Journal, April 5, 2011.

1 posted on 01/10/2012 5:56:23 PM PST by Fitzy_888
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To: Fitzy_888

There could be issues with this.

I can see the Feds claiming that the states can’t conduct their own international trade policies. Wouldn’t be much different than if NY state wanted to raise tariffs on goods imported from a particular country.


2 posted on 01/10/2012 6:04:25 PM PST by KoRn (Department of Homeland Security, Certified - "Right Wing Extremist")
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To: KoRn

The first line says “Federal law authorizes...” ,whatever that means.

This targets Siemens foremost, an old German company once closely tied to the Nazi war effort, but more recently:

“The Iranian regime has developed, with the assistance of European telecommunications companies, one of the world’s most sophisticated mechanisms for controlling and censoring the Internet, allowing it to examine the content of individual online communications on a massive scale.” -Wall Street Journal, June 22, 2009

“Instead, in confronting the political turmoil that has consumed the country this past week, the Iranian government appears to be engaging in a practice often called deep packet inspection, which enables authorities to not only block communication but to monitor it to gather information about individuals, as well as alter it for disinformation purposes, according to these experts.” -Wall Street Journal, June 22, 2009

“The monitoring capability was provided, at least in part, by a joint venture of #Siemens AG, the German conglomerate, and Nokia Corp., the Finnish cellphone company, in the second half of 2008, Ben Roome, a spokesman for the joint venture, confirmed.” -Wall Street Journal, June 22, 2009


3 posted on 01/10/2012 6:39:13 PM PST by Fitzy_888 ("ownership society")
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To: Fitzy_888

Could you imagine of the countries that outlaw abortion stopped selling oil, or sending immigrants, to us?

We’d be living like the “Road Warrior”.


4 posted on 01/10/2012 8:53:43 PM PST by kearnyirish2
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