NEW YORK--(BUSINESS WIRE)--On Monday, United Against Nuclear Iran (UANI) applauded Italian industrial conglomerate and major U.S. defense contractor Finmeccanica for affirming its commitment to stay clear of all Iran business.
In February 2014, Finmeccanica subsidiary FATA reportedly visited Tehran to discuss new projects within Iran's mining and metals sectors. According to reports, FATA executives met with the Iran Mines & Mining Industries Development and Renovation Organization (IMIDRO) and its CEO, Mehdi Karbasian. FATA's meetings were reportedly part of an Italian trade delegation visit to Iran led by the chairman of the Italy-Iran Chamber of Commerce.
In response to UANI's inquiries expressing concern about FATA's reported plans to expand its business with the sanctioned entity IMIDRO and in Iran's sanctioned metals sector, Finmeccanica informed UANI that "FATA has no ongoing projects or negotiations in Iran..." Additionally, a Finmeccanica official stated in correspondence to UANI "that Finmeccanica and its subsidiaries have no activities in place in Iran and that no Iranian entities are owned or controlled by Finmeccanica."
Said UANI CEO, Ambassador Mark D. Wallace, today:
We commend Finmeccanica, a major U.S. defense contractor, for clarifying that it has no business in Iran and committing to no new Iran business at this time. A number of nations and businesses have been exploring the resumption, expansion and/or initiation of Iran business activities. UANI will continue to highlight the legal, financial and reputational risks of Iran business for those entities that seek to prematurely re-enter the Iranian market. It should be clear to all responsible companies, particularly those that receive U.S. defense contracts, that Iran is not open for business. UANI calls on all firms to follow Finmeccanica's responsible lead.