Germany

"German lender DZ Bank will suspend financial transactions with Iran in July, it said, after U.S. President Donald Trump’s decision to pull out of the Iran nuclear deal created uncertainty over business dealings with the country. “We will completely suspend our foreign payment transactions related to Iran starting July 1st,” a spokesman for the Frankfurt-based bank said on Friday." (5/18/2018)

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"European banks are tentatively re-engaging with Iran as the Middle East’s second-largest economy slowly emerges from a sanctions regime that has kept it in the financial wilderness for years. Belgium’s KBC, Germany’s DZ Bank both confirmed when contacted by the Financial Times that they have started handling transactions on behalf of European clients doing business in Iran. Austria’s Erste Bank is preparing to do so. However, bigger European banks remain on the sidelines alongside their US rivals, scarred by a string of multibillion-dollar fines for earlier sanctions breaches in Iran. This is causing growing frustration among officials in Iran and Europe about the slow pace with which Tehran is being reconnected to the global financial system... the continuation of many US sanctions relating to other issues, such as facilitating terrorism, has made many international banks wary of working with Iranian institutions and individuals." (Financial Times, “Europe’s banks begin tentative return to Iran,” 4/3/2016)

"CMS has closed its Iran office just over two years after becoming the first international law firm to move into the country. The firm opened in Tehran in February 2016, weeks after sanctions on the country were lifted in the wake of the landmark international agreement to limit its nuclear activities. However, President Donald Trump pulled the US out of the deal in May last year, reimposing the previous sanctions, with CMS opting to close its base in the Navak Tower as a result. The office had been staffed by lawyers from the firm’s German arm, CMS Hasche Sigle, including corporate partner Jurgen Frodermann and German-Iranian energy partner Shaghayegh Smousavi, both of who have now returned to the firm's Duesseldorf base. CMS had considered a move into Tehran for some time, setting up an Iran taskforce in 2013 after the election of president Hassan Rouhani and the start of the negotiations over the nuclear deal. The sanctions on Iran were lifted on 16 January 2016, with the office opening at the start of February." (Yahoo News, "CMS exits Iran as sanctions prompt rethink by international firms," 1/24/2019).

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In February 2016, CMS announced plans to open a Tehran office in order to provide legal advice to businesses and investors in Iran.  (CMS website, “CMS Opens Iran office in Tehran,” 2/2/2016).  CMS explained, “[w]e support international companies seeking to gain an early competitive advantage and to build strong business relationships with Iran by providing access to lawyers who specialise in Iranian law and leveraging our practical experience of working on investment projects in Iran.”  (CMS website, “Welcome to CMS in Iran,” accessed 6/1/2016).  The Lawyer notes that “CMS has become the first international firm to open an office in Iran, two weeks after sanctions against the country were lifted by the US.”  (The Lawyer, “CMS becomes first international firm to open in Iran,” 2/2/2016).  CMS’s “clients in Iran will consist of multinationals and large SMEs, including Iranian companies.”  Id.

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CMS is the first international law firm to open a dedicated office in the Iranian capital, Tehran, led by partners of CMS Germany.

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"Python & Peter, a leading Swiss law firm, has opened an office in Tehran in a further sign of the country opening for business in the wake of the groundbreaking nuclear agreement signed last year. The new office will aim to advise foreign multinationals on how to operate in a country slowly awakening from years of international isolation and numerous economic downturns. In February, Germany’s CMS was the first international law firm to open an office in Tehran since the 1979 Islamic Revolution... Iranian law firms with international standards are also rare. But a new generation of lawyers has been encouraged with the entrance of foreign law firms into the country, said Encyeh Seyed Sadr, partner and attorney at law in Bayan Emrooz, a new local law firm. Lack of trust in Iran’s judicial system, fears of bias and corruption as well as often lengthy proceedings and high tariffs means many foreign companies are wary of losing their investments should they run into difficulties with their local partners... In a further sign of the growing international interest in setting up business in Iran, a team from the Swiss Chambers’ Arbitration Institution visited Tehran last week, offering fair, independent and flexible arbitration services in any potential future disputes between Iranian and foreign companies." (Financial Times, “Leading Swiss law firm opens Tehran office,” 5/5/2016)

“The Islamic Republic of Iran and Germany’s Aurubis AG are set to look into ways of cooperating in the area of copper industry. Mehdi Karbassian, director of Iran’s Mines and Mining Industries Development and Renovation (IMIDRO), a major state-owned holding company active in the mining sector, has announced a plan by a team of Germany’s Aurubis AG to visit Iran for economic cooperation in the near future. The official pointed to his recent trip to Germany and his visit to Aurubis HQ in Hamburg, where he said German company officials pointed to their readiness to cooperate with Iran and invest in its copper industry, Tasnim news agency reported. Karbassian said Aurubis, which is the largest copper producer in Europe and the biggest copper recycler in the world, declared its intention to send a team to Tehran in the near future when the two sides will discuss cooperation further.” (Press TV, “‘Iran’s IMIDRO, German Aurubis to tap joint potentials’,” 6/5/2016)

"As excitement builds around the potential PV market in Iran, German consultancy company Planet in Green agreed a 20 year power purchase agreement for a large-scale PV plant near to Tehran. Iran is opening up to outside investment and the PV market wants to take full advantage of this. European PV companies seem to be the ones taking the first steps in the country, which has huge solar resources and a need for extra power. Planet in Green Projects GmbH is a German consultancy company that specializes in PV projects. The contract that it has concluded with the with Iranian renewable energy organization SUNA is for a 100 MWp close to Iran, which will produce 165 million kWh per annum..." (PV Magazine, “German company signs PPA for 100 MW solar plant in Iran,” 6/14/2016)

"As excitement builds around the potential PV market in Iran, German consultancy company Planet in Green agreed a 20 year power purchase agreement for a large-scale PV plant near to Tehran. Iran is opening up to outside investment and the PV market wants to take full advantage of this. European PV companies seem to be the ones taking the first steps in the country, which has huge solar resources and a need for extra power... Some of the most recent exciting developments include Italian companies agreeing to build 1 GW of solar farms in the country, and German SCHMID Group agreeing with the Industrial Development & Renovation Organization of Iran (IDRO) to develop a state of the art PV manufacturing facility in the country." (PV Magazine, “German company signs PPA for 100 MW solar plant in Iran,” 6/14/2016)

“Iran looks to the lifting of sanctions to unveil a series of grand projects in partnership with major world shipbuilders, including South Korea’s Hyundai and Germany’s Nordic Yards Wismar, a senior official says… ‘We have held numerous negotiations with the world’s big companies and now we intend to choose the best partner from among them,’ Tasnim quoted him as saying. Preliminary agreements have been reached with South Korea’s Hyundai Heavy Industries Co. and an MoU has been signed with Nordic Yards Wismar which is Germany’s biggest shipbuilder, Rezaian said.” (Press TV, “Iran in talks for grand shipbuilding projects,” 11/22/2015)

TÜV InterCert has a location in Iran, TÜV InterCert Iran (accessed 7/15/2016).

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"A German government quality control agency and a private certification agency that works with it both violated EU sanctions and the federal agency’s policy by providing certificates to Iranian banks, constructions companies and energy firms, a joint investigation by The Jerusalem Post and the Federal Republic’s largest daily, Bild, reveals. The quality control certificates make it easier for the Iranian firms to conduct business, because of Germany’s reputation for high industrial standards. The violations occurred between late October 2012 and January 2016, when the Iran nuclear agreement was implemented. After accusations of sanctions violations emerged in 2012, Kurt Lindenblatt, the head of certification for the Bonn-based TÜV InterCert SAAR private agency, wrote, in an email obtained by the Post and Bild: 'The list of the companies that are under an embargo was briefly scrolled through... there are several Iranian companies... that possess certificates from us.' TÜV InterCert SAAR issues management systems quality control certifications to companies, as does the German Accreditation Council, the country’s national accreditation body. The Federal Economic Affairs and Energy Ministry oversees the council, which is a government agency." (Jerusalem Post, "Germany Government Agency Involved in Violation of Iran Sanctions," 7/14/2016)

Iran is listed on INTRA’s worldwide contact list on its company website. (Intra-Germany Company website, “Worldwide”).

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"During a two-day visit to Tehran the German economy ministry said several firms from the Mittelstand, the small-to-medium-sized companies that form the backbone of the economy, had also signed deals with Iranian partners. These included SMS group, a builder of steelmaking plants, and INTRA industrial solutions." (Reuters, "Siemens signs Iran rail contract as Germany drums up business," 10/3/2016).

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INTRA is listed as a participant at the 21st International Oil, Gas, Refining & Petrochemical Exhibition which took place from May 5-8, 2016 at the Tehran Permanent Fairground in Iran. (Iran Oil Show 2016, “Exhibitors & Products”). INTRA also participated in the Iran Oil Show in May 2015 and Tehran’s International Industry Exhibition from October 5-8, 2015. (INTRA-Germany Website, “Iran Oil Show 2015”; TIIE 2015, “List of International Pavillions”). In addition, INTRA participated in the 2015 NPC Forum in Tehran at the invitation of the NPC Vice Mohammad Hassan Peyvandi, the Vice President of the National Petrochemical Company, a subsidiary of Iran’s Ministry of Petroleum.

Is represented in Tehran, Iran by Sepahan Machine Torabi.

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"During a two-day visit to Tehran the German economy ministry said several firms from the Mittelstand, the small-to-medium-sized companies that form the backbone of the economy, had also signed deals with Iranian partners...Mitsubishi Germany has signed a contract to modernize a gas-fired plant, while plant constructor Keller HCW wants to build a brickyard in Iran, it said. Both countries' central banks have also agreed to technical co-operation.." (Reuters, "Siemens signs Iran rail contract as Germany drums up business," 10/3/2016).

"Tourism officials announced last year that a group of Turkish business leaders and German luxury hotel firm Steigenberger Hotels have agreed to build 20 hotels in Iran in the next decade. However, based on Shirkavand's statements, it seems unlikely that any deal has been signed yet." (May 26, 2017)
 

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"A handful of mostly European hotel groups are looking to steal a march on their U.S. competitors by moving into the Iranian hospitality market while U.S. companies still face regulatory uncertainty... Abu Dhabi-based-Rotana Hotel Management Corp. PJSC, France’s Accor, Spain’s Meliá Hotels International  and Germany’s Steigenberger Hotel Group are all moving quickly in anticipation of a tourism and business boom... ... Frankfurt-based Steigenberger recently signed a letter of intent to open 10 hotels in Iran." (Reuters, "Iran Prepares for an Uptick in Tourism," 10/4/2016).

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Steigenberger Wiltcher’s has agreed to serve as the venue for the Iran Forum: Banking & Finance 2016 (the “Forum”) in Brussels on October 20-21, 2016.  According to its official website, the Forum is being organized by the Ravand Institute and the Flanders Investment & Trade Agency in conjunction with supporters, including Iranian government enterprises. (Iran Forum Website, “Homepage”).