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Elon Musk Should Provide Internet in Iran, Lawmakers Urge Yellen

(Bloomberg) -- Treasury Secretary Janet Yellen should give Elon Musk’s satellite Internet service Starlink clearance to operate in heavily sanctioned Iran as the country faces...
Elon Musk Should Provide Internet in Iran, Lawmakers Urge Yellen © Bloomberg. Elon Musk, chief executive officer of Space Exploration Technologies Corp. (SpaceX) and Tesla Inc., listens as Jim Bridenstine, administrator of the U.S. National Aeronautics and Space Administration (NASA), not pictured, speaks during an event at SpaceX headquarters in Hawthorne, California, U.S., on Thursday, Oct. 10, 2019. SpaceX’s Elon Musk and NASA Administrator Jim Bridenstine staged a public show of support for one another at the rocket company’s headquarters Thursday, weeks after the two traded barbs over the closely held company’s delayed efforts to fly astronauts for the first time. Photographer: Patrick T. Fallon/Bloomberg

(Bloomberg) -- Treasury Secretary Janet Yellen should give Elon Musk’s satellite Internet service Starlink clearance to operate in heavily sanctioned Iran as the country faces widespread protests, a bipartisan group of lawmakers said.

Musk “recently stated that SpaceX would seek a license to provide its satellite based Starlink Internet service to Iran,” the lawmakers wrote in a letter to Yellen. “If such a license request is submitted, we urge you to approve it immediately.” Musk called for the exemption in a tweet on Monday.

The letter was led by Representatives Claudia Tenney, a New York Republican, and Tom Malinowski, a New Jersey Democrat, and signed by a number of other lawmakers. They also asked Treasury to clarify its policies for fostering communications access in sanctioned countries and urge the department to issue any necessary “comfort letters” to entities that may seek to provide communications services under previously issued general licenses.

“Congress is calling on the Treasury Department to do everything in its power to help the Iranian people stay connected to the Internet,” Tenney said in a statement. “We need to cut through any bureaucratic red tape and get this done.”

Demonstrations in Iran started last Friday following the death of 22-year-old Mahsa Amini, a young woman who fell into a coma after Tehran’s so-called morality police arrested her for allegedly flouting Islamic dress codes. Protests have since been reported in scores of towns and cities including the capital Tehran as well as Karaj, Shiraz, Tabriz, Kerman, Kish Island, Yazd, Neyshapur, Esfahan and Mashhad.

Iran Protests’ Death Toll Rises to 17 as the Unrest Deepens 

“Iranians are taking to the street demanding justice for Mahsa,” Malinowski said. “We need to do our part to ensure that Iranians remain connected to the outside world.”

A Treasury spokesperson said the department already allows some services related to Internet communications, including those that use satellite terminals as Starlink does, and that it welcomes applications for specific licenses related to Internet freedom in Iran.

Daniel Tannebaum, a partner at Oliver Wyman, said companies are sometimes wary of exposing themselves to the risk of running afoul of US sanctions even when the service they provide is expressly authorized by Treasury. This is especially true in the case of heavily sanctioned jurisdictions such as Iran.

“It becomes a business decision based on risk appetite in the space,” Tannebaum said in an interview. “You need to trust that you have the right controls in place to stay on the right side of the exemption.”

Treasury has begun advertising for a “chief sanctions economist” who officials say will help mitigate these types of concerns.

©2022 Bloomberg L.P.

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29-09-2022 05:25:48 (UTC+7)

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EUR/USD

0.9726

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1.0866

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USD/JPY

144.18

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0.6515

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140.23

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48.19

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    EUR/USD 0.9726 ↑ Sell  
    GBP/USD 1.0866 ↑ Sell  
    USD/JPY 144.18 ↑ Buy  
    AUD/USD 0.6515 ↑ Sell  
    USD/CAD 1.3615 ↑ Buy  
    EUR/JPY 140.23 ↑ Sell  
    EUR/CHF 0.9497 Neutral  
    Gold 1,667.20 ↑ Sell  
    Silver 18.887 Sell  
    Copper 3.3825 ↑ Sell  
    Crude Oil WTI 81.74 ↑ Sell  
    Brent Oil 87.98 ↑ Buy  
    Natural Gas 7.016 ↑ Sell  
    US Coffee C 227.80 ↑ Sell  
    Euro Stoxx 50 3,335.30 Neutral  
    S&P 500 3,719.04 ↑ Sell  
    DAX 12,183.28 Neutral  
    FTSE 100 7,005.39 Neutral  
    Hang Seng 17,250.88 Buy  
    Small Cap 2000 1,725.13 ↑ Buy  
    IBEX 35 7,442.20 Neutral  
    BASF 39.415 ↑ Buy  
    Bayer 48.19 Neutral  
    Allianz 160.72 ↑ Buy  
    Adidas 130.24 ↑ Buy  
    Lufthansa 5.772 ↑ Buy  
    Siemens AG 99.46 ↑ Buy  
    Deutsche Bank AG 7.854 ↑ Sell  
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# So hôm qua # Chênh TG
SJC Eximbank6,410/ 6,510
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