The Seattle Times reports that Costco has revoked the business membership privileges of the Iranian embassy in Tokyo, Japan. In addition, Costco has cancelled Iran Air’s business membership in the United Kingdom.
According to the story, "We know this only because such details must be reported in a company’s regulatory filings under the Securities and Exchange Commission’s (SEC) implementation of the Iran Threat Reduction and Syria Human Rights Act of 2012, which became law a year ago.
"The SEC says disclosure is required if a company 'knowingly engaged in certain specified activities involving contacts with or support for Iran or other identified persons involved in terrorism or the creation of weapons of mass destruction'."
According to the story, "We know this only because such details must be reported in a company’s regulatory filings under the Securities and Exchange Commission’s (SEC) implementation of the Iran Threat Reduction and Syria Human Rights Act of 2012, which became law a year ago.
"The SEC says disclosure is required if a company 'knowingly engaged in certain specified activities involving contacts with or support for Iran or other identified persons involved in terrorism or the creation of weapons of mass destruction'."
- KC's View:
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In a geopolitical situation that is anything but clear, it is nice to know that if you cross the US, at the very least you'll lose your Costco membership.
