TEHRAN: ExxonMobil (NYSE:XOM) denied reports Friday that it was lobbying the U.S. government to do business in Iran. “ExxonMobil is not lobbying on Iran sanctions,” said Ken Cohen, vice president of public and government affairs.
“Erroneous media reports resulted from errors in a consultant’s lobbying disclosures. Current U.S. law prohibits American companies from operating in Iran.”
Exxon shares fell 0.7% to 86.65 by early afternoon in the stock market today.
Bloomberg reported Thursday that Exxon retained a lobbying firm to watch activity regarding sanctions in Iran.
“We are not lobbying on Iran sanctions,” Alan Jeffers, an Exxon spokesman, said in an interview with Bloomberg Thursday. “We are monitoring activities related to Iran in the U.S. government.”
European companies, like Italy’s Eni, are already looking at investment in the country if a nuclear deal is reached and sanctions are lifted.
European and U.S. companies left Iran in 2000 after new economic sanctions were imposed. But the sanctions could be gradually lifted if Iran and the U.S. reach a deal over Tehran’s nuclear development by June 30.
Exxon has a large investment in land in Russia, which has been under U.S. sanctions since March 2014 after the annexation of Crimea.
