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Philips

Philips

Industry: 
Electronics
Value of USG Contracts: 
3
Symbol: 
NYSE:PHG
Country: 
The Netherlands
Sources: 

"Philips has maintained a presence in the Iranian market for many years.  In correspondence with the U.S. Office of Global Security Risk in 2011 regarding Philips’ business with state sponsors of terrorism, Philips wrote that it maintained a representative office in Iran under the name 'Philips Iran,' staffed by five employees.  Among other responsibilities, Philips wrote that Philips Iran 'maintain[s] contacts with government authorities and industry leaders with the objective of identifying business opportunities for Philips.'”  (SEC CorrespondenceLetter to the Office of Global Security Risk, 10/31/2011)

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"At the 3rd Europe-Iran Conference, a forum to promote Iran business opportunities held in Zurich, Switzerland on May 3-4, 2016, Jeroen van der Veer, the Chairman of the Supervisory Board of Philips Electronics, was featured as the opening keynote speaker.  Nariman Askarieh, Philips Healthcare General Manager for Iran, also spoke at the forum."  (3rd Europe-Iran Forum, “Program”). 

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Over the last three presidential administrations, the United States government has granted Philips Electronics 35 special licenses to do business in Iran. (New York Times, "Companies with Permission to Bypass Sanctions," 12/24/10)

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"Philips Electronics received a license to sell some sort of medical devices to Iran, the exact nature of which was redacted by OFAC. The division of the company mentioned in the paperwork suggested that the product sold was some sort of ultrasound equipment. OFAC also redacted the names of the Iranian buyers." (New York Times, "Licenses Granted to U.S. Companies Run the Gamut," 12/24/10)