Financial Services

"A subsidiary of the company was reported as potentially providing oil and gas testing services in Iran. In 2018 CalPERS designated the company as under review. In 2019 CalPERS changed the designation to “being monitored” because CalPERS’ initial screening has not identified the company as having involvement in the regions and/or activities targeted by the Act. CalPERS has maintained the company in “monitor” status for 2020. CalPERS continues to monitor the company for possible changes in status relevant to the Act"

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In 2018, the California State Public Employees Retirement System (“CalPERS”), designated GBL as “Under Review” for having a subsidiary that was reported as potentially providing oil and gas testing services in Iran. In 2019, CalPERS  changed the designation to “Being Monitored” because CalPERS’ “initial screening has not identified the company as having involvement in the [activities] targeted by the [2019 California Public Divest from Iran] Act.

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In 2017, CalSTRS designated Groupe Bruxelles Lambert as “Under Review” for potentially having ties to Iran. In 2018, CalSTRS staff met with representatives of the company and confirmed it is a holding company only and does not have a subsidiary operating in Iran. Furthermore, CalSTRS reviewed the company’s investment and compliance policies and confirmed it maintains appropriate controls and includes geopolitical risk in its investment process. CalSTRS subsequently removed Groupe Bruxelles Lambert from the list of “Under Review” companies.

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In 2017 the U.S. state of California listed Groupe Bruxelles as a company under review for having a subsidiary that reportedly provides oil and gas testing services in Iran.

"Christophe Eck, a senior partner at GIDE, says that the French law firm will remain active in Iran regardless of Trump’s decision to withdraw from the Iran nuclear deal." (June 17, 2018).

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"The Islamic Republic of Iran is the second largest economy in the MENA region, and its legal system, based on Sharia principles, also borrows much from the French commercial code and company law. Gide is the first international law firm to obtain a licence in order to open a branch office and practise in Iran under its own name. Our firm has been advising and assisting clients in Iran for many years on their investments, acquisitions, BOT (Build Operate Transfer) transactions, various commercial agreements, international arbitration and embargo regulations." (Company Website)

At its meeting on February 16, 2021, the Board of Trustees of Maryland State Retirement and Pension System determined that Gaz Capital is not eligible for investment as a result of oil-related activity in Iran.

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Gaz Capital is listed on the 4Q 2020 Minnesota State Board of Investment List of Unauthorized (Scrutinized) Iran Companies.

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In 2018 the U.S. state of Ohio listed Gaz Capital S.A .on its Iran prohibited companies list rendering Gaz Capital S.A. ineligible for investment and/or state contracting.

According to its 2018 annual report, in 2017, Finnvera granted, for the first time in many years, guarantees for exports to Iran. The guarantees were associated with short-term trade financing. At its highest, Finnvera’s Iran-related exposure amounted to more than EUR 60 million. Demand for export credit guarantees ceased in 2018 due to the challenging overall situation and the sanctions imposed by the United States.

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"Finnvera and Export Guarantee Fund of Iran (EGFI) signed amemorandum of understanding (MOU) that strengthens cooperation between Finland and Iran to promote trade." (May 2017)
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On February 2, 2016 Finnvera issued a press release noting it had “revised its country policy for Iran…. This means that Finnvera can begin to grant export credit guarantees for exports from Finland to Iran.” (Finnvera Website, “Finnvera supports Finnish exporters’ trading in Iran,” 2/25/2016).

EKN has agreed to speak at the Iran Trade Business Briefing 2017 (the “Briefing”) in London on April 26, 2017. (Global Trade Review Website, “Description”).

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"Uncertainty regarding remaining US-sanctions has had a dampening effect on exports to Iran. There is still no possibility of financing large and long-term export transactions." (Feb 7, 2017)

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Iran has signed new memorandum of understandings with three international export credit agencies. The country’s own ECA, the Export Guarantee Fund of Iran, has signed agreements with the Indian ECGC, the Swedish EKN and the Austrian OeKB, Global Trade Review reported. (June 2, 2016).

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According to a January 2016 press release on your website, “EKN is reintroducing export credit guarantees to Iran.”  (EKN, “EKN reintroduces export credit guarantees to Iran,” 1/22/2016).

Diebold Nixdorf’s authorized partner in Lebanon, Tamer Frères, advertises a presence in Iran at the top of its webpage.  (Wincor Nixdorf Website, “Banking Sales Middle East”; Tamer Frères Website, “Homepage”).

Diacron participated in the Iran-Italy Summit 2017 (“the Summit”), that took place in Rome, Italy on November 27, 2017. The
Summit was held in cooperation with the Tehran Chamber of Commerce, Industries Mines and Agriculture (“TCCIM”). (The European House Ambrosetti, “Iran-Italy Summit”),

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According to its website: "The Diacron group has been present in Iran since 2016, after years of experience and networking in this country that led, among other things, to the publication of the How to do business guide in Iran. 100 questions, 100 answers . At the Bra Seminar he will participate with an intervention by Lorenzo Bagnoli on corporate and tax aspects in investments."

Dentons was advertised as a participant via video conference in 2018 for KishINVEX, “one of the most economically influential events mainly concentrates on presenting Iran’s investment and business opportunities and providing attendees with professional networks to expand their business in the untapped market of Iran.” (KishINVEX Website, “Home;” “About” “KishINVEX 2018 All Participants”).

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According to its website "Dentons is committed to supporting clients wherever they do business. In Iran, we have entered into association with APP, an Iranian law firm based in Tehran, to better serve our international clients investing and doing business in Iran."

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Dentons Europe LLP (“Dentons Europe”) is listed as a participant in the first private Luxembourg – Iran Business Forum, that took place in Luxembourg, on November 15, 2017. (Luxembourg-Iran Business Forum Website, “Agenda”).

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Dentons Europe LLP (“Dentons”) has agreed to co-sponsor another pro-Iran business conference, the 3rd Europe-Iran Forum (the “Forum”) in Zürich on May 3-4, 2016. (Europe-Iran Forum Website, “The Conference that Sets the Standard”).

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Dentons Europe LLP (“Dentons”) agreed to co-sponsor the FT Iran Summit 2016 (“the Summit”) that took place in London on March 9, 2016. (Financial Times, “FT Iran Summit 2016”).

Clyde & Co has agreed to co-sponsor a pro-Iran business conference, the 3rd Europe-Iran Forum (the “Forum”) in Zürich on May 3-4, 2016. (Europe-Iran Forum Website, “The Conference that Sets the Standard”).

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Clyde & Co LLP (“Clyde & Co”)  co-sponsored the FT Iran Summit 2016 (“the Summit”) in London on March 9, 2016. The Summit is purportedly designed to “educate” international companies about the benefits of doing business in Iran and to induce them to re-enter the Iranian market. According to its official website, the Summit is being co-sponsored by Clyde & Co for the purpose of “examining the opportunities and challenges surrounding Iran’s reintegration into the global economy” and to explore “what steps should investors take as they navigate through a changing business landscape….” (Financial Times, “FT Iran Summit 2016”).

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States on its website: “We have established a dedicated multi-disciplinary legal team, which includes Farsi speakers, to support this growing market. The Iran desk is led out of our Dubai office. We work closely with prominent Iranian law firms and key industry figures in the local market to enhance our institutional knowledge of Iran’s legal system, business processes and culture, which enables us to provide our clients with local law advice where necessary.”

Iranian company Sazeh Pouyesh lists Benteler as a partner. 

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Benteler was an exhibitor at the 22nd Iran Oil Show that took place in 2017. 

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May 2017 – “Iran Khodro Industrial Group, Iran's largest automaker, will produce several new models with the help of major local and foreign partners, including Pininfarina, Mahle, Hyundai PowerTech, Punch Powertrain, Benteler Automotive, Sharif University of Technology and Amir Kabir University of Technology.”