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Hard to blame European firms for being upset about this: WSJ reports U.S. trade with Iran is...

Hard to blame European firms for being upset about this: WSJ reports U.S. trade with Iran is increasing despite sanctions, while EU trade with Iran is falling. Coke, Oral-B mouthwash and Philip Morris cigarettes are but three examples of U.S. products still readily available in Tehran. Standard Chartered surely has some choice words for the discrepancy.
Comments (22)
  • wyostocks
    , contributor
    Comments (7625) | Send Message
     
    Shocking, simply shocking.
    Even Rick would be shocked.
    16 Aug 2012, 05:53 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    "You know, Rick, I have many a friend in Casablanca, but somehow, just because you despise me, you are the only one I trust."
    16 Aug 2012, 05:59 PM Reply Like
  • wyostocks
    , contributor
    Comments (7625) | Send Message
     
    Whitehawk----Good memory.
    16 Aug 2012, 06:05 PM Reply Like
  • GardenWeasel
    , contributor
    Comments (28) | Send Message
     
    good for Standard Charter! glad to see there is at least one backbone left in the world. Someone send a copy to the Swiss.
    16 Aug 2012, 05:59 PM Reply Like
  • Alvin5007
    , contributor
    Comments (146) | Send Message
     
    It's very easy to smuggle cigarettes. But the Coke and Oral-B, strange.
    16 Aug 2012, 06:01 PM Reply Like
  • edexter
    , contributor
    Comments (539) | Send Message
     
    I don't know that ko has any way to stop that. A distributer buys stuff from whatever bottler and ships it where-ever (not a good use of thier hard currency either). I don't think if they are the enemy that we should stop shipping them cigerettes either.
    16 Aug 2012, 06:01 PM Reply Like
  • montanamark
    , contributor
    Comments (1434) | Send Message
     
    corzine is free but madoff is in jail; the iran obama sanctions are also a joke;

     

    http://on.ft.com/S1nlyX
    16 Aug 2012, 06:10 PM Reply Like
  • gh1616
    , contributor
    Comments (452) | Send Message
     
    What a travesty. CNBC this morning suggested Corzine will be running a hedge fund. Maybe run for political office again. If he had an (r) after his name he would be sharing a cell with Madoff
    16 Aug 2012, 08:35 PM Reply Like
  • Veritas1010
    , contributor
    Comments (1312) | Send Message
     
    Vultures, vultures, vultures...
    16 Aug 2012, 06:12 PM Reply Like
  • montanamark
    , contributor
    Comments (1434) | Send Message
     
    http://nyti.ms/MXYxot
    16 Aug 2012, 06:24 PM Reply Like
  • hwood007
    , contributor
    Comments (1207) | Send Message
     
    Until some person can verify the shipping stops, (who, to who, to who) we cannot say a US firm sent these goods straight from here to Iran, some facts please, I am a sgt friday type.
    16 Aug 2012, 06:39 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3529) | Send Message
     
    Hasn't anyone heard of smugglers? It's a thriving business in the Mid-east. I understand there is even some smuggling of heroin and other drugs.
    16 Aug 2012, 06:51 PM Reply Like
  • Walt17
    , contributor
    Comments (415) | Send Message
     
    These aren't black market sales. Coke confirmed that their syrup is being legally exported to IRAN and that payment processing is not a problem.
    http://on.wsj.com/OnXUkw
    16 Aug 2012, 07:52 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3529) | Send Message
     
    I stand corrected. But then, Warren and Barack are close and Warren has a big stake in Coke.
    16 Aug 2012, 09:43 PM Reply Like
  • The Autonomous Guy #23
    , contributor
    Comments (209) | Send Message
     
    Corzine should be bunk buddies with Madoff. They both made off

     

    with the $$$$$$. Is there no justice in this world? And this clown,

     

    Corzine , wants to start "HEDGE FUND". You gotta be kidding!!!
    16 Aug 2012, 07:57 PM Reply Like
  • Larry Smith
    , contributor
    Comments (2481) | Send Message
     
    There are Marlboro's all over China, but they did not come from Philip Morris.
    16 Aug 2012, 08:26 PM Reply Like
  • davidbdc
    , contributor
    Comments (3141) | Send Message
     
    Its not difficult to do. Every large multi-national does a similar approach.

     

    You set up a "foreign" business in a country that doesn't have sanctions. You name a foreign based executive (non US citizen) as being the president or managing director and a P&L to go along with it. Then you sell to an established distributor in a Middle East country that isn't Iran. The distributor does the actual importing of the products.

     

    This way the company hasn't sold anything to the country in question. Sometimes you have to send the product physically to the country where you've set up this company - but sometimes you can even ship directly from USA or Germany or France, etc. to the distributor (depends on how much product the distributor sells in total - not just to Iran - or North Korea, etc)

     

    Its quite unbelievable really. And it shows how much funny business goes on. If people knew how intercompany pricing is set up to avoid taxes they'd really get mad!
    16 Aug 2012, 11:44 PM Reply Like
  • arthur_bishop1972
    , contributor
    Comments (2153) | Send Message
     
    Nothing else seems to have worked on Iran. Maybe the cigs will ;D
    17 Aug 2012, 12:19 AM Reply Like
  • bhlevy
    , contributor
    Comment (1) | Send Message
     
    These US based multinationals should disclose whether they are shipping their products directly to Iran or, hopefully, whether they are innocent victims of illicit resellers in other countries who buy their products on the open market and redirect them to Iran.
    17 Aug 2012, 01:08 AM Reply Like
  • mope940
    , contributor
    Comments (42) | Send Message
     
    No problem!! We give them bad lungs, obesity, but with pleasant breath and then make our move to colonize them for the oil.
    Simple!!
    17 Aug 2012, 05:59 AM Reply Like
  • godalmightee13
    , contributor
    Comments (466) | Send Message
     
    I like that mope940 lol
    18 Aug 2012, 06:22 AM Reply Like
  • edexter
    , contributor
    Comments (539) | Send Message
     
    I don't see the problem with these particular goods taking away thier hard currency so they can't use it for other things... the tooth paste maybe.
    18 Aug 2012, 10:34 AM Reply Like
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