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Essar backs off Iranian refinery on US pressure
Gulf Times – Nov 01, 2007 9:21 PM
NEW YORK: India’s Essar Group has backed away from development of a new oil refinery in Iran that would violate US sanctions on Tehran, Minnesota Governor Tim Pawlenty said on Wednesday.
<The US State Department declined to comment specifically on Essar, but a department official, speaking on condition of anonymity, said, “If this Indian company has decided it’s in its best interest to back away from dealings in Iran, that’s excellent.” US companies are prohibited by law from working in Iran, although foreign affiliates of US companies, including one linked to oil services company Halliburton, have conducted business there. – Reuters>
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