🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Sasol fears US sanctions for Iran business -paper

Published 10/13/2009, 03:52 AM
Updated 10/13/2009, 03:54 AM
SOLJ
-

JOHANNESBURG, Oct 13 (Reuters) - South African petrochemicals group Sasol fears that the United States might impose sanctions on it due to its investments in Iran, the Business Day newspaper reported on Tuesday.

Sasol, the world's top maker of motor fuel from coal, said in a filing with the U.S. Securities and Exchange Commission on Friday that it was concerned Washington's Iranian Transactions Regulations posed a risk to its operations, the paper said.

"There are possible risks posed by the potential imposition of U.S. economic sanctions in connection with activities we are undertaking in the polymers field, as well as feasibility studies relating to a potential ammonia-urea project at Assaluyeh in Iran," the paper quoted the company as saying.

The regulations are part of the pressure being put on Tehran over its nuclear programme, which Washington suspects has military aims although Iran says its purpose is to produce electricity.

While the regulations restrict transactions between U.S. persons and Iran, Sasol was worried that because of its status as a multinational, the regulations might apply to entities associated with it, including U.S. employees and investors, Business Day said.

Sasol was originally created largely to help South Africa resist sanctions imposed in the past because of its former apartheid policies. (Reporting by Muchena Zigomo, editing by Anthony Barker)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.