Ad Warning of Risks of Doing Business With Islamic Republic ‘Soured the Mood’ at First-Ever Iran Investment Summit
A full-page newspaper ad warning international companies about the dangers of doing business with the regime in Tehran “soured the mood” at last week’s Iran Investment Summit in Singapore, CNBC reported.
The ad — published in the Financial Times by the United Against Nuclear Iran (UANI) advocacy group — cautioned attendees of the first-ever-of-its-kind summit that they should be “skeptical of the business environment” in the Islamic Republic.
“Serious financial, legal and reputational risks for businesses, shareholders, investors, employees, and the international community loom large in betting on Tehran,” the ad said.
In a statement released ahead of the summit, Ambassador Mark D. Wallace — the CEO of UANI — said, “For investors in Singapore who are contemplating these so-called financial opportunities, we offer this advice: Any international company doing business in Iran could find itself inadvertently supporting terrorism — from Hamas and Islamic Jihad to Hezbollah and the Houthis in Yemen.”
Reporting live from the summit, CNBC journalist Sri Jegarajah said UANI’s “inflammatory” campaign “has not gone down at all well here.”
“There has been a fair share of drama and controversy dogging this investment summit because of the politics,” Jegarajah noted.
Following the nuclear agreement it reached with six world powers in July 2015 — and the subsequent easing of international economic sanctions — Iran has been seeking to attract foreign business and investment. This effort has been boosted by US Secretary of State John Kerry, who in May said that European companies should not use remaining US sanctions on the Iranian regime as a reason to refrain from making deals with it.
As reported by The Algemeiner, a recent American Israel Public Affairs Committee (AIPAC) memo said the Obama administration had “opened the door to business with Iran’s leading terrorist group — the Islamic Revolutionary Guard Corps (IRGC)” with the Treasury Department’s move last month to allow Tehran greater access to the US dollar.