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
CBC News
Related
Internal Links
External Links
(Note: CBC does not endorse and is not responsible for the content of external sites - links will open in new window)
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 PressShare Tools
Top News Headlines
- Adele wins best album, best record Grammys
- Adele capped off a "life-changing" year by winning six Grammys Sunday night, including record of the year and album of the year for 21 more »
- Hit and run victim's family fears accused will walk
- The family of a young mother killed in a hit and run is outraged that the case against the alleged driver is among thousands in B.C. at risk of being thrown out because of a huge court backlog. more »
- CBC launches digital music service
- CBC is diving into the world of online music with the goal of providing listeners access to their favourite tunes and a way to discover new artists and connect with fellow music fans. more »
- Is it time to start investing in world markets yet?
- Investors have always been told that diversification is one of the best ways to reduce the risk associated with a portfolio, but they often aren't told the whole story. more »
Latest Business Headlines
- Greece passes new austerity deal amid rioting
- Greek lawmakers have approved harsh new austerity measures demanded by bailout creditors to save the debt-crippled nation from bankruptcy, after riots in Athens and other cities left stores looted and burned and more than 120 people hurt. more »
- Air Canada reaches tentative deal with dispatchers
- Air Canada has reached a tentative collective agreement with the Canadian Airline Dispatchers Association, representing the airline's 74 flight dispatchers. more »
- Old Age Security untouched until 2020, Flaherty says
- Finance Minister Jim Flaherty says Canadians should expect no changes to Old Age Security benefits before 2020 or 2025, and details about reform would be outlined over more than one budget. more »
- CAW questions Caterpillar takeover of Electro-Motive
- The head of the Canadian Auto Workers is suggesting Caterpillar Inc. may not have followed foreign takeover rules in its 2010 purchase of the London, Ont., locomotive plant it has since shut down. more »
Lang & O'Leary Exchange
Markets
| Index | Last Trade | Change |
|---|---|---|
| TSX COMPOSITE | 12389.42 | 0 |
| DOW | 12801.23 | 0 |
| NASDAQ | 2903.88 | 0 |
| SP 500 | 1342.64 | 0 |
| NYSE COMPOSITE | 7992.05 | 0 |
| AMEX | 2417.98 | 0 |
| TSX-VENTURE | 1653.55 | 0 |
The data on this site is informational only and may be delayed; it is not intended as trading or investment advice and you should not rely on it as such.
Business Features
- Adele wins best album, best record Grammys
- Houston autopsy results withheld by police
- Quebec town 'heartbroken' after killing of woman, sisters
- Pop queen Whitney Houston dies at 48
- Hit and run victim's family fears accused will walk
- Manitoba man dies after falling off moving SUV
- Doors blocked in fatal Manitoba trailer blaze
- Greece passes new austerity deal amid rioting
- Northern lights viewed from space

