http://money.cnn.com/magazines/fortune/fortune_archive/2005/02/07/8250445/"Under U.S. law, a foreign subsidiary can legally operate in Iran if it acts independently of its parent and has no American executives. In addition, there's a $40 million limit on how much a non-U.S. company can invest in Iran. Halliburton spokeswoman Beverly Scippa told FORTUNE that HPSL's new contract is worth "between $30 million and $35 million over the next three years."
Nevertheless, Halliburton is under grand-jury investigation for possible sanctions violations in Iran. U.S. Treasury officials began their probe in 2001 after
HPSL was found to share its Dubai address and telephone number with Halliburton. Senator Lautenberg plans in February to reintroduce legislation--defeated in the Senate by one vote last year--to ban foreign subsidiaries of U.S. companies from doing business in Iran. Meanwhile, the oilmen in Texas are likely to use the loophole as long as it exists. -- Vivienne Walt in Tehran "
Nice, eh? I wonder who the 'figurehead' is in Iran for this subsidiary?
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