Nexus - 1505 - New Times Magazine-pages

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assets at rock-bottom prices to foreign investors, in much sectors of the national economy to a handful of US the same way as in other compliant developing countries _ corporations. including Indonesia, the Philippines, Brazil, etc.? In other words, Tehran's privatisation program does not The largest foreign investors in Iran are China and _ serve US economic and strategic interests. It tends to Russia. favour countries which have longstanding trade and While US companies are notoriously absent from the list investment relations with the Islamic Republic. It favours of foreign direct investors, Germany, Italy and Japan have — Chinese, Russian, European and Japanese investors at the significant investment interests in oil and gas, the expense of American. It undermines and weakens petrochemical industry, power generation and construction American hegemony. It goes against Washington's design as well as banking. Together with China and Russia, they to foster a "unipolar" New World Order through both are the main beneficiaries of the economic and military means. privatisation program. . And that is why Washington One of the main objectives of The proposed ECONOMIC wants to shunt this program the proposed economic sanctions | sanctions regime...is intended to § through a worldwide economic under H. Res. Con. 362 is to sanctions regime which would, if prevent foreign companies isolate Iran and prevent the implemented, paralyse trade, (including those from the . . investment and monetary flows European Union and Japan) from transfer of Iranian assets into the with Iran. * acquiring a greater stake in the hands of competing economic The proposed economic Iranian economy under Tehran's . sanctions regime under H. Con. divestment program. powers... It is tantamount to a Res. 362 is intended to isolate Other countries with major declaration of war. Iran and prevent the transfer of foreign investment interests in Iranian assets into the hands of Iran include France, India, competing economic powers Norway, South Korea, Sweden and Switzerland. Sweden's _ including China, Russia, the European Union and Japan. Svedala Industri has major interests in Iran's copper mines. _It is tantamount to a declaration of war. France, Japan and Korea have interests in the In a bitter irony, H. Con. Res. 362 serves to undermine automobile industry, in the form of licensing agreements _ the economic interests of several of America's allies. The with Iranian auto manufacturers. Resolution would prevent them from positioning Italy's Eni oil company is involved in the development — themselves in the Middle East, despite the fact that these of phases 4 and 5 of the South Pars oilfield, amounting to —_ allies (e.g., France and Germany) are also involved 3.8 billion dollars. (See Iranian Privatization — through NATO in the planning of the war on Iran. Organization, 2008 report.*) Total and the Anglo-Dutch conglomerate Shell are involved in natural gas. While the privatisation process does not allow for the divestment of Iran's state oil company, it creates an environment which favours foreign investment by a number of countries including China, Russia, Italy, Malaysia, etc. in oil refineries, the petrochemical industry, the oil services economy as well as oil and gas infrastructure including exploration and oil—gas pipelines. While several US corporations are (unofficially) conducting business in Iran, the US trade sanctions regime (renewed under the Bush administration) outlaws US citizens and companies from doing business in Iran. In other words, US corporations would not be allowed to acquire Iranian state assets under the privatisation program unless the US trade sanctions regime were to be lifted. Moreover, all foreign firms are treated on an equal footing. There is no preferential treatment for US companies and no corrupt colonial-style arrangement as in war-torn Iraq, which favours the outright transfer of ownership and control of entire = ell ae cogs — iz By gre | ee, 7 = rs < GA + pe ia at ae a : v7 ae somerville a NEXUS ¢ 13 The proposed economic isolate Iran and prevent the hands of competing economic powers... It is tantamount to a declaration of war. AUGUST — SEPTEMBER 2008 www.nexusmagazine.com