Investigators name companies doing business with Iran

Federal investigators have identified 41 foreign companies helping Iran to develop its energy capacity.

The Government Accountability Office yesterday released a report saying the companies had provided financing, equipment and services to energy production in Iran.

Although no U.S. companies were named, some of the companies doing business with Iran also have contracts with the U.S. government. Two examples, as shown in our Muckety map, are Royal Dutch Shell and Daelim Industrial.

As The New York Times notes, the report did not say whether the foreign firms had violated the Iran Sanctions Act, which penalizes companies investing more than $20 million annually in Iranian oil and gas projects.

Oil exports account for more than half of the Iranian government’s revenues. Iran aims to raise oil production and exports and increase natural gas for domestic use, but it requires billions in foreign investment to reach those goals.

According to a Times report published last month, the U.S. government has paid more than $107 billion in contracts to companies doing business with Iran.

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