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Kerry Has Investments in Company Accused of Violating Iran Sanctions

Thu, December 27, 2012

Senator John Kerry (D-MA), President Barak Obama’s nomination for the next secretary of state, has investments in companies who have been accused of violating U.S. sanctions against doing business with Iran.

According to Kerry's disclosure forms, one of Kerry’s investments is with Petroleo Brasileiro SA Petrobras (Petrobras), a Brazilian-based oil and gas corporation.

A 2009 report from Congressional Research Services said Petrobras has had "major investments in Iran's energy sector" since 1999. In 2010, Congress listed Petrobras as a company possibly violating Iran sanctions.

A The New York Times report from 2010 stated: “Recently, after 50 lawmakers from both parties complained to President Obama about the lack of enforcement and sent him a list of companies that apparently violated the law, the State Department announced a preliminary investigation. Officials said that they were looking at 27 deals, and that while some appeared to have been ‘carefully constructed’ to get around the letter of the law, they had identified a number of problematic cases and were focusing on companies still active in Iran. Among the companies on the list Congress sent to the State Department is the Brazilian state-controlled energy conglomerate Petrobras, which last year received a $2 billion Export-Import Bank loan to develop an oil reserve off the coast of Rio de Janeiro."

Kerry’s assets in Petrobras are worth between $150,000 and 350,000.

Kerry’s overall net worth is estimated at a minimum of $198.65 million, according to disclosure forms, making him one of the richest members of Congress.

 Source: The Weekly Standard