Banking

"Officials from the Central Bank of Iran and the National Bank of Ukraine met at the CBI headquarters in Tehran to discuss expansion of banking relations with deputy governors of both banks in attendance." (November 26, 2016)   

In another meeting on Thursday, Denmark’s Export Credit Agency (EKF) signed an agreement with the Organization for Investment, Economic and Technical Assistance of Iran (OIETAI). (9/22/2017)

--

EKF – Danmarks Eksportkredit (“EKF”) has agreed to participate in the 4th Europe-Iran Forum (“EIF4”) in Zürich on October 3-4, 2017. (EIF4 Website, “An Unparalleled Project in ‘Business Diplomacy’”).

--

"Iran and Denmark signed a Memorandum of Understanding (MoU) between Danish Export-Import Bank and Investment Department of Iranian Ministry of Economy and Finance. Iran and Denmark can work in cultural, education, human rights and trade fields and can hold constructive talks on human rights, said Foreign Minister Mohammad-Javad Zarif in a meeting with his Danish counterpart Kristian Jensen." (January 4, 2016).

"At a meeting between Iranian and Hungarian banks, Export-Import Bank of the European country agreed to open an 85-million-euro Line of Credit (LOC) to Export Development Bank of Iran (EDBI). “It has been agreed that a Memorandum of Understanding (MoU) for regulatory cooperation be signed between central banks of the two sides,” he continued. Also, Hungarian Export-Import Bank (Eximbank) allocated a Line of Credit (LoC) worth 85 million euros to Export Development Bank of Iran (EDBI) in a bid to elevate volume of bilateral economic cooperation." (February 2017)

--

Hungarian Eximbank, the financing arm of EXIM, signed a Memorandum of Understanding with Iran in Budapest on October 23, 2016. (Mehr News, “Iran’s DBI, Hungarian Exim kick off coop.,” 10/23/2016).

An acquisition of Fiera Capital reportedly has a fund that invests exclusively in Iranian securities In 2017, CalSTRS designated Fiera Capital as “Under Review” for potentially having ties to Iran. In 2018, CalSTRS removed Fiera Capital after reviewing the company’s business with Iran and internal controls to prevent sanction violations.

--

In 2017 the U.S. state of California listed Fiera Capital as a company under review for reportedly having a fund that invests exclusively in Iranian securities.

Listed as a corresponding bank for transferring the fees for the 10th International Conference on magnetic and Super Conducting Materials (MSM17).

--

The head of Iran’s Chamber of Commerce, Industries, Mining and Agriculture, Mohsen Jalalpour, announced in May 2016 that, following his visit to Singapore, “the [chairman] of DBS Bank (Development Bank of Singapore), Peter Seah Lim Huat, will travel to Tehran to discuss banking ties.” (Financial Tribune, “ICCIMA’s Jalalpour, Singapore Officials Discuss Areas of Cooperation,” May 23, 2016).

"H. E. Eduard Muřický was accompanied by a delegation from the Ministry of Industry & Trade, the Ministry of Finance, Ministry of Foreign Affairs, ČSOB bank, ČSIOK (Czech Slovak Iranian Chamber of Commerce) and INCO Engineering Company to Tehran in May 2019." (May 2019)

--

CSOB’s is listed on on the Government of Bulgaria’s list of Foreign Banks & Financial Institutions and Iranian Banks Abroad Working with Iran. (Government of Bulgaria, “Foreign Banks & Financial Institutions and Iranian Banks Abroad Working with Iran,” 1/19/2017).

"Croatian National Bank has called all the country’ banks to remove existing barriers on the way to expand banking ties with Iran, the visiting Croatian Deputy Prime Minister Martina Dalic announced addressing Iran-Croatia Business Forum in Tehran, on Tuesday, IRIB news reported." (Tehran Times, 5/8/2018).

--

A delegation led by the governor of Croatian National Bank, the central bank of East European nation, will travel to Tehran in the foreseeable future to remove banking hurdles, the assistant minister with the Croatian Ministry of Foreign and European Affairs announced. (Financial Tribune, 7/29/2017)

--

The Financial Tribune, recently reported on Croatia’s establishment of banking ties with the Central Bank of Iran (“CBI”), an Office of Foreign Assets Control (“OFAC”)-blocked Iranian financial entity.  (U.S. Treasury Department, “Fact Sheet: New Sanctions on Iran,” 11/21/2011).  According to Ali Rabiei, Iran’s Minister of Labour, “the governor of the Central Bank of Iran has delivered the finalized document of this agreement to the ministry…countries like Croatia are a priority for Iran and that is why we are ready to cooperate with the country in any field.” (Financial Tribune, “Iran, Croatia Sign Banking Agreement,” 7/1/2017).

Česká confirmed to the media in April 2016 that it has reentered the Iranian market, explaining that “[w]e try to support the export activities of our corporate customers.”  (Banks EU, “ČSOB and Česká Spořitelna first among Czech banks to resume their work with Iran,” 4/7/2016).  Further, Česká’s website relates that Deputy Head of Correspondent Banking, Barbora Procházková, is responsible for contact with banks in Iran.  (Česká website, “Contacts”). 

--

Sub. Of EGB Ceps Holding

"French state-owned bank Bpifrance has abandoned its plan to set up a mechanism to aid French companies trading with Iran, in the face of U.S. sanctions against Tehran. Earlier this year, the bank had said it was working on a project to finance French companies that wished to export goods to Iran despite U.S. sanctions. “It’s put on hold,” said Nicolas Dufourcq, Bpifrance’s chief executive. “Conditions are not met (...) Sanctions are punitive for companies.”" (1/24/2018)

--

On September 24, 2017, The New York Times reported that Bpifrance “will finance investment projects of French companies in Iran from 2018, granting up to 500 million euros ($598 million) in annual credits.”  (New York Times, “French State Bank Bpifrance to Fund Projects in Iran, CEO Tells Paper,” 9/24/2017). 

--

This report followed an earlier article from October 2016, which reported that “officials from the Bpifrance and Export Development bank of Iran (“EDBI”) discussed expansion of ties….”  (Financial Tribune, “Bpifrance, EDBI Discuss Ties,” 10/24/2016).

In 2017, the U.S. state of Iowa listed Biancamano SpA on its state list of Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering Biancamano SpA ineligible for investment and/or state contracting.