Presently, President Obama is having negotiations with the Iranian Government for the solution of the nuclear issue and some progress has been achieved. There is a demand for easing of sanctions further but the US Government is not acting and what is more, the Republicans who represent the interests of the big US multinationals, are creating conditions for continuing the present impasse and the sanctions in the interests of the US companies who are doing clandestine business with the Iranian companies while preventing the non western companies from doing business.

Observers of the US-Iranian relations have noted that despite the negotiations process progressing much over easing tensions around Iran’s nuclear programme, western powers, especially the USA are not in a mood to ease the quantum of sanctions on Iran since all unilaterally imposed sanctions are aimed at settling advantageous economic conditions for its business and preclude any competitors in Iranian market who can try to pose a business challenge to the Americans and the Europeans.

US sanctions have obvious discriminatory features for the Asian countries including China and India. The West having advanced banking system and international reserve currency like dollar and euro can easily affect Asian countries trade with Iran. While the US banking system has kept some loose ends for the big US companies to take advantage and trade with Iran in direct or indirect manner, the Asian companies have been kept out of the purview of business with Iran by resorting to the provisions of the sanctions and the guidelines of the western banks .In the last two years, the US sanctions policy have created a situation when the leading players of Asia have been pushed away from the Iranian market while the clandestine trade and business between Iran and the front companies of the US have continued and even increased.

Experts have noted that the US sanctions policy have kept grey areas through which the US companies can deal with Iran while the Asian companies are barred from doing business.According to a special law of the US, US companies have an opportunity to invest in Iranian economy in case of “vital importance for American national security” and also “not being drastically supportive” to its nuclear and oil sector. Taking advantage of these clauses, the US companies are participating in projects in Iran and these have enabled the US based pension funds to invest around US$ 300 million directly in oil projects in southern Iran.

Latest data show that the US government has awarded more than US$ 100 billion in contract payments, grants and other benefits over the past decade to foreign and multinational American companies while they were doing business in Iran, despite Washington’s so called official policy of discouraging investment in sanctions-hit Iran. This figure includes nearly US$ 15 billion paid to companies that defied American sanctions law by making large investments that helped Iran in developing its vast oil and gas reserves.

A New York Times assessment of federal records made some time ago shows that both Obama and Bush administrations sent mixed messages to the US corporates when it came to doing business in Iran rewarding companies whose commercial interests conflict with American security goals. Many of these companies are involved in the vital areas of Iran’s economy and more than two third of the US government funds given to them went to companies doing business in Iran’s energy sector, a huge source of revenue for the Iranian Government.

Other US companies are engaged in auto manufacturing and distribution- another important area of Iranian economy with links to the security establishment of the regime. Analysts have noted that for all the talk of American about sanctions against Iran, the US administration has kept plenty of room for companies to profit in crucial areas of Iran’s economy without fear of reprisal or loss of United States business. Even companies based in the United States including some of the biggest federal contractors, can invest in Iran through foreign subsidiaries run independently by non-Americans.

The non-western companies must raise their voice against this US perfidy. At a time when there are definite signs of easing of tensions between USA and Iran, there is no reason why the earlier sanctions that are hitting the non-western companies most in dealing with Iran, will still remain. India, China and Russia must take the initiative in this regard and expose the US duplicity in the interests of fairness in international trade and business. That will also be in the interests of the security and peace in the west Asian region. (IPA Service)