Tuesday, July 20, 2004

HoustonChronicle.com - Halliburton's business dealings in Iran prompt grand jury inquiry

HoustonChronicle.com - Halliburton's business dealings in Iran prompt grand jury inquiry

"Grand juries investigate Halliburton subsidiaries
Foreign offices' dealings with Iran draw the attention of local authorities
By DAVID IVANOVICH
Copyright 2004 Houston Chronicle

WASHINGTON - A Houston grand jury is investigating Halliburton Co.'s business dealings with Iran.

In a filing Monday with the U.S. Securities and Exchange Commission, Halliburton revealed that a federal grand jury for the Southern District of Texas has subpoenaed documents related to Iran, a country long suspected of sponsoring terrorism.

Federal law prohibits U.S. companies from trading directly with Iran. But foreign subsidiaries are allowed to do business with rogue states as long the foreign entity is truly independent of the U.S. operation.

"Halliburton intends to work with the government and assist in any way possible so we can get resolution on this matter," company spokeswoman Wendy Hall said. "We look forward to answering any and all questions."
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