Despite international sanctions intended to derail Iran’s nuclear program, the Islamic Republic legally owns 15 percent of the third biggest uranium mine in the world. How is this possible? Ask the organization of Rossing Uranium Limited in the southern African nation of Namibia. According to the company’s most fresh annual report, Iran has owned a sizeable stake in it since the early 1970s. The United Nations has made it unlawful to sell fissile material to the Iranians, but it somehow allows them to own a main stake in a uranium mine. This is a loophole that wants to be addressed at Turtle Bay.
The Namibian government insists last year that it did not enter into profitable deals to supply Iran with uranium. Under Namibian law, the Windhoek government must support all uranium exports. And Rossing’s most current report to stakeholders declares that the company is in full compliance with International Atomic Energy Association directives on Iran. Nevertheless, from Washington’s viewpoint, Rossing could be a legitimate aim for financial sanctions. Presumably, Iranian personnel have contact to the site. Indeed, two Iranian legislature of the Iran Foreign Investment Company (IFIC) sit on Rossing’s board of directors. One of them, Seyed Nezameddin Ashrafizadeh, is an proficient chemical engineer.
Are the Iranians acquiring technical knowledge from Rossing’s experts and transfer it to Iran’s domestic uranium mines? This is illegal, according to the inclusive Iran Sanctions, Accountability, and Divestment Act, which President Obama signed in July. It may also be prohibited under UN Resolution 1929, which states that “Iran shall not gain an interest in any commercial activity in another state involving uranium mining.” Additionally, IFIC, the unit that holds Iran’s 15 percent share of Rossing, is the mullahs’ sovereign wealth vehicle. The U.S. Treasury placed IFIC on the Iranian Transactions Regulation list in August, creation it unlawful for Americans to do business with it.
The Namibian government insists last year that it did not enter into profitable deals to supply Iran with uranium. Under Namibian law, the Windhoek government must support all uranium exports. And Rossing’s most current report to stakeholders declares that the company is in full compliance with International Atomic Energy Association directives on Iran. Nevertheless, from Washington’s viewpoint, Rossing could be a legitimate aim for financial sanctions. Presumably, Iranian personnel have contact to the site. Indeed, two Iranian legislature of the Iran Foreign Investment Company (IFIC) sit on Rossing’s board of directors. One of them, Seyed Nezameddin Ashrafizadeh, is an proficient chemical engineer.
Are the Iranians acquiring technical knowledge from Rossing’s experts and transfer it to Iran’s domestic uranium mines? This is illegal, according to the inclusive Iran Sanctions, Accountability, and Divestment Act, which President Obama signed in July. It may also be prohibited under UN Resolution 1929, which states that “Iran shall not gain an interest in any commercial activity in another state involving uranium mining.” Additionally, IFIC, the unit that holds Iran’s 15 percent share of Rossing, is the mullahs’ sovereign wealth vehicle. The U.S. Treasury placed IFIC on the Iranian Transactions Regulation list in August, creation it unlawful for Americans to do business with it.
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