Fundamental of International Buisness Essay Example | Topics and Well Written Essays - 500 words - 2

Fundamental of International Buisness - Essay Example rice. Iran exports millions of tons of wheat each year and its sugar exports annually exceeds 500,000 tons (the Iranaian). American businesses are banned from purchasing these products or selling U.S goods to Iran. If we were in the carpet importing business, there would be nothing to bar us from importing and selling Persian rugs from Iran. We are in the grain business, however, and U.S. law thereby prohibits us from conducting business with the country, which many know best for its militant takeover of the U.S. embassy in Tehran in 1979 and the subsequent taking of hostages. Many in the businesses community believe that the sanctions on trade with Iran not only hurt the Iranian people, they also cost American companies billions of dollars in lost revenues and jobs. The sanctions also expand the diplomatic divide between the US and many of its allies and hinder the ability for US businesses to participate in the world marketplace. Earlier this month, the Tehran Times published an article in which it announced that Irans Petropars Company has developed an offshore oilfield in the Caspian Sea and is in negotiation with a Turkish company as a contractor. That company will likely see profits in the billions of dollars as a result of this joint venture. Aside from the business aspect of renewing trade with Iran, there is also the humanitarian aspect. Many experts say sanctions hurt those very parts of the population which they are designed to protect. â€Å"A distinction between the Iranian people and the Iranian regime is long overdue. Aiming at sabotaging the Iranian economy will in the end only hurt the Iranian people who are not accessories to the deeds of their undemocratic regime. Similar economic sanctions have failed elsewhere. For example, seven years of rigorous sanctions against Iraq has unfortunately not caused a change in government, only immense suffering on the people," an editorial in the Iranian reads. Following the 1979 embassy takeover, the