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...coast of Portugal for nearly a month. Gretl, owned by a Hamburg shipper, was carrying $6.8 million worth of Portuguese-made munitions, including some 67,000 120-mm mortar shells that were originally bound from the port of Setubal to the Iranian port of Bandar Abbas. The shipment in a West German flag carrier was illegal under a Bonn law that forbids the transport of armaments to "areas of tension." The delivery was contracted for by the Danish shipping firm of Finn J. Poulsen, which has an indirect connection with Iranscam. Last April the company sold a 163-ft. ship...

Author: /time Magazine | Title: Everybody's Doing It | 3/16/1987 | See Source »

...Portuguese government had other ideas. Anxious to prop up its shaky , domestic arms industry, Portugal has lifted all strictures against arms sales to Iran or its enemy Iraq. Insisting that Gretl's shipment was legal and should be delivered to Iran, the Lisbon government refused to let Gretl's crew dump its high-explosive cargo back on Portuguese docks. Ever since, the ship and its hapless crew have been condemned to their Iberian shuttle, at a cost of roughly $10,000 a day, while the West German shipper, the Danish charterer and the governments involved try to untangle the mess...

Author: /time Magazine | Title: Everybody's Doing It | 3/16/1987 | See Source »

...Portuguese arms shipment might never have come to light had the weapons been transported as originally planned aboard Adonis, a freighter of Panamanian registry. Panama, like Portugal, has no strictures on arms sales or shipments to Iran. But Adonis was already on its way to Iran, reportedly laden with a 1,200-ton shipment of war materiel from Spain that was originally, and fraudulently, listed for a final destination in Portugal. Tipped off about the subterfuge, Lisbon did not permit Adonis to dock, and on Jan. 14 the ship canceled its request. Thus, when it came time to ship...

Author: /time Magazine | Title: Everybody's Doing It | 3/16/1987 | See Source »

...local newspapers to have sold several hundred Robot 70 portable ground-to-air missiles to Iran between 1983 and 1985. Last month the Belgian daily Le Soir reported that Swedish customs officials had sent a bulky dossier to their counterparts in Brussels. The file contained details of the shipment of Swedish war materiel destined for Iran through the Belgian port of Zeebrugge. Last week Martin Ardbo, the managing director of Bofors weapons division, abruptly resigned. This week the Swedes are expected to publish the results of a customs investigation that, it is believed, will show that an intricate network...

Author: /time Magazine | Title: Everybody's Doing It | 3/16/1987 | See Source »

...President repeated the assertion he made to the Tower commission that "no one kept proper records of meetings or decisions," and without such records he could not remember whether he had approved the initial Israeli arms shipment to Iran before or after it occurred. Said Reagan: "I did approve it; I just can't say specifically when...

Author: /time Magazine | Title: Ronald Reagan: Trying a Comeback | 3/16/1987 | See Source »

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