UANI Applauds State of California for Pressuring ABB to End Its Oil and Gas Business in Iran

FOR IMMEDIATE RELEASE
July 7, 2011
Contact: Nathan Carleton, press@uani.com
Phone: (212) 554-3296   

UANI Applauds State of California for Pressuring ABB to End Its Oil and Gas Business in Iran

New York, NY - United Against Nuclear Iran (UANI) on Thursday applauded the State of California for pressuring ABB, a Swiss-based Fortune 500 engineering firm, to end its oil and gas business in Iran.

As the Financial Times reported last week, the State of California recently contacted ABB concerning its business in Iran. California officials have been enforcing the 2010 Iran Contracting Act this year by threatening to bar companies which do business in Iran from receiving state contracts.

ABB contacted UANI in June regarding its listing on UANI's Iran Business Registry. ABB told UANI that it had "decided to complete its exit from all business in the oil and gas sector in Iran by the end of September 2011."

Said UANI President, Ambassador Mark D. Wallace:

UANI applauds the State of California for enforcing its Iran Contracting Act legislation, resulting in ABB's subsequent withdrawal from Iran's oil and gas sector. This major decision by ABB, a Fortune 500 corporation, shows that states can make a big difference by compelling contractors to make a choice between doing business in America and in Iran.

ABB should end all of its business in Iran, and send a strong message to Iran's regime. UANI hopes to work with more states to debar those state contractors that continue to work in Iran.

Click here to read the Financial Times article "California tightens screw on trade with Iran."

Click here to read ABB's announcement on its business with Iran.

Click here to see UANI's model legislation page.