CBCnews
Story Tools: EMAIL | PRINT | Text Size: S M L XL | REPORT TYPO | SEND YOUR FEEDBACK | Bookmark and Share

U.S. trade with Iran increases tenfold under Bush administration

Bull semen, snowmobiles and weapons on surprising list of exports

Last Updated: Tuesday, July 8, 2008 | 12:50 PM ET

Iran may be part of the “axis of evil,” but it is good enough to be able to buy increasing amounts of American products — including bull semen, brassieres and possibly even weapons — despite U.S. sanctions that have been in place for decades.

An analysis of seven years of U.S. trade statistics done by the Associated Press shows that exports from the United States to Iran grew more than tenfold during President George W. Bush's years in office, even as he accused the Mideast country of having nuclear ambitions and helping terrorists.

Cigarettes were Iran’s favorite U.S. import, the statistics said, with the Islamic republic’s smokers going through more than $169 million worth of popular U.S. brands since 2001.

Other surprising shipments to Iran during the Bush administration have included fur coats, sculptures, perfume and musical instruments.

Despite increasingly tough rhetoric toward Iran, and reports of U.S. or Israeli plans for a military strike, trade in a range of goods has survived on-again, off-again sanctions originally imposed nearly three decades ago.

Sanctions target 'regime, not people'

Theoretically, the U.S. government-imposed rules allow only sales of agricultural commodities, medicine and a few other types of goods. What exemptions exist are aimed at helping Iranian families, officials said.

"Our sanctions are targeted against the regime, not the people," said Adam Szubin, director of the U.S. Treasury Department's Office of Foreign Assets Control, which enforces the country’s sanctions against foreign nations, including Cuba.

The U.S. and Europe recently agreed on a new round of financial sanctions against one of Iran's leading banks, as part of international efforts to discourage Tehran from enriching uranium.

Washington also moved Tuesday to impose targeted sanctions on certain Iranian companies and individuals suspected of funding Islamic militant groups and nuclear weapons development.

Economic embargoes and sanctions are intended in part to frustrate Iran's efforts to build its military, but the U.S. government's own figures show that hundreds of thousands of dollars in unspecified weapons, rifle parts and other military gear were exported from the U.S. to Iran during Bush's time in office.

Szubin said it was unlikely that exports of military gear occurred, but he added that the government was looking into the matter.

The United States sent Iran about $546 million in goods from 2001 through last year, government figures show. It exported roughly $146 million last year, compared with just under $9 million in 2001, Bush's first year in office. Even adjusted for inflation, that is more than a tenfold increase.

Snowmobiles, golf carts on list

Top U.S. exports to Iran over Bush's years in office include agricultural products such as corn and soybeans, vaccines, blood products, chemicals, wood pulp, medical equipment, vitamins, bull semen and vegetable seeds, according to the AP's analysis of government trade data compiled by the World Institute for Strategic Economic Research in Holyoke, Mass.

Iran is listed as a top customer of Alta Genetics Inc., a Canadian company with an office in Watertown, Wis., that sells bull semen, used to produce healthier, more profitable cattle.

"The animals we're working with are genetically superior to those in many parts of the world," said Kevin Muxlow, Alta's global marketing manager.

The trade statistics also show that Iran has purchased several thousand dollars' worth of snowmobiles and golf carts from U.S. suppliers.

With files from the Associated Press
  •  
Story Tools: EMAIL | PRINT | Text Size: S M L XL | REPORT TYPO | SEND YOUR FEEDBACK | Bookmark and Share
 

Related

Find the best interest rates

Sponsored Feature

Select a product  

Close Close this window

Sponsored Feature

Rate Comparison

Banks & Trusts Interest Rate Minimum Deposit Features
Home Trust Company 0.85% $2,500  
Equitable Trust 0.80% $5,000  
Ally 0.75% $1 Guaranteed earnings. No minimums, fees or service charges.
SunLife Financial Trust 0.70% $1,000  
ResMor Trust 0.65% $5,000  
ICICI Bank Canada 0.50% $1,000  
ING Direct 0.50% $1  
Peoples Trust 0.50% $5,000  
Pacific & Western Bank 0.45% $5,000  
Bank West 0.35% $5,000  
Banks & Trusts Interest Rate Minimum Deposit Features
Home Trust Company 1.25% $2,500  
ResMor Trust 1.10% $5,000  
Ally 1.00% $1 Guaranteed earnings. No minimums, fees or service charges.
Equitable Trust 0.85% $5,000  
SunLife Financial Trust 0.80% $1,000  
Pacific & Western Bank 0.70% $5,000  
ING Direct 0.50% $1  
Manulife Bank 0.50% $25,000  
Peoples Trust 0.50% $5,000  
General Bank of Canada 0.50% $25,000  
Banks & Trusts Interest Rate Minimum Deposit Features
Home Trust Company 1.25% $2,500  
ResMor Trust 1.10% $5,000  
Ally 1.10% $1 Guaranteed earnings. No minimums, fees or service charges.
Equitable Trust 0.85% $5,000  
SunLife Financial Trust 0.80% $1,000  
Pacific & Western Bank 0.75% $5,000  
Manulife Bank 0.50% $25,000  
Peoples Trust 0.50% $5,000  
General Bank of Canada 0.50% $25,000  
ING Direct 0.50% $1  
Banks & Trusts Interest Rate Minimum Deposit Features
Ally 1.75% $1 No-Penalty option, no fees, daily compounded interest.
Home Trust Company 1.55% $1,000  
Pacific & Western Bank 1.55% $1,000  
ResMor Trust 1.46% $1,000  
SunLife Financial Trust 1.45% $1,000  
Community Trust 1.35% $1,000  
Korea Exchange Bank 1.30% $3,500  
State Bank of India (C) 1.30% $2,000  
ING Direct 1.25% $1  
Alterna Bank 1.20% $500  
Banks & Trusts Interest Rate Minimum Deposit Features
Ally 2.30% $1 Guaranteed earnings. No minimums, fees or service charges.
ING Direct 2.25% $1  
Pacific & Western Bank 2.15% $1,000  
Home Trust Company 2.15% $1,000  
ResMor Trust 2.11% $1,000  
SunLife Financial Trust 2.05% $1,000  
State Bank of India (C) 2.00% $2,000  
Korea Exchange Bank 2.00% $3,500  
Community Trust 1.95% $1,000  
HomEquity Bank 1.90% $5,000  
Banks & Trusts Interest Rate Minimum Deposit Features
Ally 2.75% $1 Guaranteed earnings. No minimums, fees or service charges.
Alterna Bank 2.75% $500  
Home Trust Company 2.65% $1,000  
SunLife Financial Trust 2.65% $1,000  
ResMor Trust 2.60% $1,000  
HomEquity Bank 2.55% $5,000  
Manulife Bank 2.50% $2,500  
ING Direct 2.50% $1  
President's Choice Fin'l 2.50% $500  
State Bank of India (C) 2.50% $2,000  
Banks & Trusts Interest Rate Minimum Deposit Features
Ally 3.60% $1 Guaranteed earnings. No minimums, fees or service charges.
SunLife Financial Trust 3.45% $1,000  
Home Trust Company 3.35% $1,000  
Pacific & Western Bank 3.30% $1,000  
B2B Trust 3.30% $500  
President's Choice Fin'l 3.25% $500  
ING Direct 3.25% $1  
HomEquity Bank 3.25% $5,000  
Manulife Bank 3.25% $2,500  
Canadian Western Bank 3.20% $500  
Banks & Trusts Interest Rate Minimum Deposit Features
Peoples Trust 2.10% $0  
Ally 2.00% $0 No minimums, no fees, daily compounded interest.
State Bank of India (C) 1.25% $1,000  
Canadian Tire Bank 1.20% $0  
ICICI Bank Canada 1.20% $0  
ING Direct 1.05% $0  
Amex Bank of Canada 1.00% $0  
Manulife Bank 1.00% $0  
Alterna Bank 0.85% $0  
Royal Bank of Canada 0.75% $0  
Banks & Trusts Interest Rate Minimum Deposit Features
Ally 2.00% $0 Invest up to $5000/year tax-free, withdraw at any time.
State Bank of India (C) 1.75% $0  
Bank of Nova Scotia 1.50% $0  
Canadian Tire Bank 1.50% $0  
ICICI Bank Canada 1.40% $0  
ING Direct 1.05% $0  
President's Choice Fin'l 1.00% $0  
Manulife Bank 1.00% $0  
BMO Bank of Montreal 1.00% $0  
HSBC Bank Canada 0.80% $0  

Money Headlines

Ottawa will stay course on stimulus: Flaherty Video
Rather than turning off the stimulus taps or pouring more fuel on the economic fire, Ottawa will stand pat with the $61 billion in stimulus spending announced in January, Finance Minister Jim Flaherty says.
Canada Post struggles to innovate
Canada's postal service is reinventing itself as it struggles to make up for dwindling demand in the face of a devastating global economic slowdown.
The 10-billion-barrel battle
Henry Lyatsky wants B.C.'s coast opened to oil drilling but environmentalists stand opposed.
CAW, Johnson Controls reach tentative deal Video
After a successful late-night bargaining session, the Canadian Auto Workers Union and management at Johnson Controls have reached a tentative agreement on a new three-year labour deal.
Agrium's bid for CF stumbles
Calgary-based Agrium has suffered a setback in its bid to take over rival CF Industries.

People who read this also read …

Top CBCNews.ca Headlines

Headlines

McCain argues against Afghanistan exit date Video
U.S. Senator John McCain says military exit dates and exit strategies in Afghanistan should not even be discussed until NATO gets the upper hand in its fight against Taliban militants.
U.S. health-care bill clears Senate hurdle
Democrats united Saturday night to narrowly push historic health-care legislation past a key U.S. Senate hurdle over the opposition of Republicans eager to inflict a punishing defeat on President Barack Obama.
Disgraced N.S. bishop's replacement named Video
The Roman Catholic Church has appointed a replacement for Bishop Raymond Lahey, of the Diocese of Antigonish, N.S., who is facing child pornography charges.
Rocket hits luxury hotel in Afghan capital
At least two people were hurt when a rocket struck a wall of the heavily guarded Serena Hotel in Kabul, the Interior Ministry says.
Vancouver Island evacuation order lifted Video
An evacuation order has been lifted for hundreds of south Vancouver Island residents forced from their homes by flooding.