24 Nov 2024
Wednesday 21 December 2016 - 15:17
Story Code : 243804

Rolls-Royce exploited US sanctions loopholes to trade with Iran

Rolls-Royce exploited US sanctions loopholes to trade with Iran
The Guardian- Leaked 2009 memo to then CEO Sir John Rose shows state-owned firms bought nearly 100 turbines between 1975 and 1995

Rolls-Royce sold equipment to Iran for decades, a confidential company memo reveals, exploiting a series of loopholes in US sanctions to avoid breaking the law.

The Iranian government amassed the worlds largest collection of the British engineering groups signature turbine and booked millions of pounds of orders each year, according to a briefing drafted in 2009 for the companys then chief executive, Sir John Rose

Trading in Iran appears to have carried on despite the enormous political risk of being seen to avoid US sanctions.

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