UANI
Warns Czech Companies of Significant Business Risks on Eve of
Iranian Foreign Minister's Visit
Major
Companies like CSOB and Skoda Have Expressed Interest in Pursuing or
Expanding Business in Iran
New York, NY - Ahead of an official
visit on November 11 by Iranian Foreign Minister Mohammad
Javad Zarif and an accompanying business delegation, global advocacy
organization United Against
Nuclear Iran (UANI) issued a warning to Czech companies
interested in pursuing business deals with Iran.
"As Iranian delegations continue their attempts
to draw in new business around the world, Eastern European companies
must remain vigilant and attuned to the commercial risks that so
blatantly continue to plague Iran," said former Foreign
Minister of Poland and UANI Advisory Board member Radosław
Sikorski. "No potential business is worth the
consequences of working with a brutal regime that refuses to change
and continues to sponsor terrorism, engage in illicit financial
activity, and commit egregious human rights abuses."
UANI is currently spearheading a worldwide campaign,
alerting businesses across six continents and a multitude of economic
sectors of the many severe risks they face in any business
relationship with Tehran. Two Czech companies have been identified as
part of this campaign: Ceskoslovenska Obchodni Banka (CSOB) and
Volkswagen-owned Skoda Auto. UANI has corresponded with both
companies, sending letters to the CEOs and Board chairmen outlining
the components of its Iran
Business Risk Matrix. CSOB has announced that its portfolio with
Iranian banks is "gradually expanding," while Skoda is
"linking up with local partners" in Iran to increase
exports of its automobiles. The financial and automotive sectors are
two of the riskiest industries identified in UANI's global campaign.
Some of the risks outlined in the letters include:
- Inadvertently
supporting state-sponsored terrorism: In a recent report, the
U.S. State Department found Iran to be the leading state-sponsor
of terror worldwide. By engaging in business activities in or
with Iran, foreign companies face the risk of blood on their
hands - with funds, technology, or equipment often being
misappropriated to support a range of terrorist activities
around the world.
- Banking
& money laundering risk: Iranian financial institutions
remain locked out of the U.S. financial system, and therefore
cut off from much of the global financial system. Harsh
penalties remain for those institutions that directly or
indirectly facilitate prohibited transactions.
- Supporting
Islamic Revolutionary Guard Corps (IRGC) front companies: Doing
business in Iran means dealing with businesses that are covertly
managed or owned by the IRGC, a terrorist organization which is
sanctioned by the United States and international community. The
IRGC largely dominate - and profit from - the automobile and
banking industries in Iran.
In addition to CSOB and Skoda, UANI has written to the
following Czech companies: Ceska Sporitelna, Mavel, Inekon Group,
UNIS, Tatra Trucks, AZD Praha, and SOR Libchavy.
Media interested in speaking with former Minister
Sikorski, or to request copies of the letters sent to Czech
companies, please contact: press@uani.com.
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