James Delahunty
29 Jun 2013 4:45
In a filing with the SEC, Sony revealed that Dubai dealers resold about $12.8 million worth of Sony video equipment and medical instruments to Iranian ministries.
The equipment was specifically sold to Iran's broadcasting unit and health ministry, while some dealers were also seeking to sell equipment to the information technology department of Iranian policy.
Such disclosures must be made as the United States and the European Union had enacted strict sanctions against specific targets in Iran, both governmental and industrial. The goal is to force Iran to halt the enrichment of uranium that Western countries say is ongoing in order to build nuclear weapons, while Iran claims its enrichment process is for peaceful purposes only.
"If the relevant authorities were to impose penalties or sanctions against Sony, the impact of such sanctions could be material," Sony said in its filing with the SEC.
Companies accused of breaking the sanctions on Iran can have enormous fines and other penalties imposed upon them by authorities in the U.S., Europe and other regions of the world.