In a 10-K report filed on Friday afternoon, Amazon admitted it has been trading illegally with Iran. In clear violations of US sanctions. Amazon warned investors it faces possibly heavy penalties.
And it shows you how weak and ineffective Obama’s sanctions really are. Because, and I want to give Amazon the benefit of the doubt because they claim it was a mistake not intentional treason, if the sanctions are this easy to get around they don’t mean anything.
In the “Other Contingencies” section of its 10-K, Jeff Bezos’ company determined that between January 2012 and December 2016 it had “processed and delivered orders of consumer products for certain individuals and entities located outside Iran covered by the Iran Threat Reduction and Syria Human Rights Act or other United States sanctions and export control laws. The consumer products included books, music, other media, apparel, home and kitchen, health and beauty, jewelry, office, consumer electronics, software, lawn and patio, grocery, and automotive products.”
The world’s biggest online retailer said it has “voluntarily reported these orders to the United States Treasury Department’s Office of Foreign Assets Control and the United States Department of Commerce’s Bureau of Industry and Security.”
As Zero Hedge reports, the violations are the result of then-President Barack Obama’s Iranian sanctions. This law imposes civil penalties and takes other action against foreign subsidiaries of U.S. companies engaging in transactions with Iran.
Amazon listed their the violations as: consumer products sold to individuals and unspecified groups controlled or owned by the Iranian government; consumer products valued at approximately $50 for an Iranian embassy located in a country other than Iran; consumer products valued at approximately $1,300 for an individual designated under Executive Order 13224; consumer products valued at approximately $2,400 for an entity owned or controlled by the Iranian government; and consumer products valued at approximately $250 for an individual who may have been acting for an entity designated under Executive Order 13382 and owned or controlled by the Iranian government. The consumer products included books, other media, apparel, home and kitchen, jewelry, office, toys, consumer electronics, software, health and beauty, pet products, and lawn and patio.
Amazon says it is “unable accurately to calculate the net profit attributable to these transactions and does not plan to continue selling to these accounts in the future.”
The real question is why did Amazon come clean now? They admit they have been doing this since 2012, behind Obama’s back.
Does it have anything to do with Amazon CEO Jeff Bezos being virulent anti- Trump? Or that Amazon is behind the lawsuit that blocked Trump’s immigration order?
Who knows but what it shows is how easy Obama’s sanctions are to evade which should give Trump reason to rip up Obama’s terrible Iran deal.