Halliburton has said that its subsidiary in Iran had completed all its commitments and was no longer working in the country.
In January 2005, the company said that it would not accept new work in Iran but that it would complete existing contracts there.
The Department of Justice subpoenaed documents from Halliburton in July 2004 for an investigation into the legality of contracts its Halliburton Products & Services Ltd. unit, which is registered in the Cayman Islands, held for work with the mullah-run Iranian Oil Company.
American companies are forbidden under United States law from doing business in Iran, dating to sanctions imposed after the 1979 Islamic revolution when student fundamentalists held 52 American hostages for 444 days.
However Halliburton said that its operations in Iran, handled through a Dubai office, were legal because they were isolated from American operations and management.
Halliburton’s operations legal? Try telling that to the neighbouring Iraqis!