The US Treasury’s announcement that it is imposing sanctions against Iranian individuals and companies has led to panic at MTN, the City Press reported.
Last week, the United States sanctioned 17 Iranian individuals and entities because of their alleged involvement in the Iranian government’s human rights abuses, and terrorism support.
According to the City Press, MTN is concerned that the US sanctions will cause “a hardening of attitudes in the US against the company”.
MTN is currently embroidered in a legal battle in the United States, after Turkcell filed legal action against MTN Group for allegedly engaging in the bribery of an Iranian and a South African government official in connection with MTN’s participation in the Irancell consortium.
Turkcell also alleges that MTN encouraged the South African government to take a favourable position toward Iran’s civil nuclear power development programme in return for an operating licence in Iran.