From 1995 to 2000, Dick Cheney was the CEO of Halliburton. While he was in charge, Halliburton was doing a lot of business with Iran. In fact, as CEO, Cheney spoke out against sanctions on Iran - sanctions put in place by then President Clinton in 1995. That's right, the Dark Lord himself, at one time, was a fan of Iran. When it was convenient for him.
Yesterday a Senate Committee questioned a Halliburton executive about the company's work in Iran. According to a New York Times article, there were no apologies or regrets from the executive, Sherry Williams, who said "We have followed U.S. law. We will continue to follow U.S. law." Which means they found a loophole. But Halliburton is now pulling out of Iran, not because they regret setting up shop there, but because there's no more money to be made.
So as long as Halliburton follows the letter of the law, they feel they're morally above reproach. The Democratic Senators on the Committee disagreed, and hope to close the loophole in the law that allows subsidiaries of US based companies to operate in countries the federal government has sanctions against.