Companies doing business with Iran risk U.S. sanctions unless they take heightened measures to avoid benefiting sanctioned entities like the Iranian military, according to a State Department statement provided to THE WEEKLY STANDARD. The warning contradicts remarks made by Secretary of State John Kerry, which were seen by supporters and opponents of the administration as significantly downplaying the risks businesses face.
Kerry said Monday that banks could safely do business in Iran if they applied “no extra due diligence, just normal due diligence,” weeks after Treasury Department Under Secretary for Terrorism and Financial Intelligence Adam Szubin told TWS that banks risked sanctions unless they used a higher, “enhanced level of due diligence.”
