The sales were conducted in 2003, 2004 and 2005 by Infineum, in which ExxonMobil owned a 50% share, according to SEC documents unearthed by American Bridge, a Democratic research group.
ExxonMobil told USA TODAY the transactions were legal because Infineum, a joint venture with Shell Corporation, was based in Europe and the transactions did not involve any U.S. employees.
The filings, from 2006, show that the company had $53.2 million in sales to Iran, $600,000 in sales to Sudan and $1.1 million in sales to Syria during those three years…
The SEC letter questioned ExxonMobil’s failure to disclose to shareholders that it had transactions with three state sponsors of terrorism. Decisions to make such disclosures should be based on “the potential impact of corporate activities upon a company`s reputation and share value,” and not simply the monetary value of the transactions, the SEC said.
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