United Against Nuclear Iran (UANI) has led a campaign to alert the more than 500 global companies to the risks of doing business in Iran.
Endorsed by the Iranian government, the Singapore summit will showcase a variety of investment prospects, including projects tied to Iranian entities whose property is still blocked in the United States.
The Fajr Kerman Petrochemical Complex, tied to Bank Pasargad, Iran’s largest private bank, appears to be one such prospect. The bank is sanctioned by the Treasury Department as part of a crackdown on “front companies, ships and banks that are part of the Government of Iran.” Its property is blocked by the United States government.
Another featured project, The Sarcheshmeh Copper Complex, located in Kerman, is run by the National Iranian Copper Industries Company (NICICO). It’s owned by the state-controlled conglomerate Iranian Mines & Mining Industries Development & Renovation Organization (IMIDRO), and it’s property is blocked by the United States government.
Leading the delegation from Tehran is Iran’s Central Bank Governor, and the Central Bank’s property is blocked by the United States government.
United Against Nuclear Iran states, “For investors in Singapore who are contemplating these so-called financial opportunities, we offer this advice: Any international company doing business in Iran could find itself inadvertently supporting terrorism–from Hamas and Islamic Jihad to Hezbollah and the Houthis in Yemen.”
“The legal, reputational, and financial risks loom large,” said Ambassador Mark D. Wallace, CEO of United Against Nuclear Iran.
Seeking to heighten awareness of the danger the Iranian regime poses to the world, the independent, not-for-profit, non-partisan, advocacy group UANI was an founded in 2008 by Ambassador Mark D. Wallace, Ambassador Richard Holbrooke, former CIA Director Jim Woolsey and Middle East Expert Dennis Ross.