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GE Joins Halliburton In Pulling Out of Iran

HeadlineFeb 03, 2005

In business news, General Electric has become the second major company to announce it will stop doing new business in Iran. Halliburton made a similar announcement last week. A GE spokesperson said the decision was made “because of uncertain conditions relating to Iran,” In recent weeks speculation has grown that the U.S. or Israel may carry out an attack on Iran to cripple its alleged nuclear weapons program. For years Halliburton and GE have skirted a trade embargo on Iran by setting up foreign-owned subsidiaries to deal directly with Iran.

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