Goldman cancels Iranian aluminum warrants
Jun 01, 2012 | 08:32 AM
LONDON Goldman Sachs Group Inc. has canceled warrants for material from Iranian Aluminium Co. (Iralco) using a special U.S. government exemption, sources in the aluminum market told AMM sister publication Metal Bulletin.
Goldman Sachs declined to comment, but sources said Goldman has an exemption from the U.S. government that enables it to overstep prohibitions in place on U.S. companies dealing with Iran and handle the material.
"Goldman Sachs canceled a large volume of Iralco material in Pacorinis warehouses in Johor," a source at a brokerage said. "Theyre due to take delivery in a couple of months." ....
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