Finland

Halton

Industry
Technology
Country
Finland
Sources

Halton features on the official Iranian vendor website, “VList” – the ‘petroleum and energy vendor source search engine of I.R. Iran’."

Sintrol Oy

Industry
Manufacturing
Country
Finland
Sources

Sintrol is featured on the website of the Iranian energy services firm Sima Mehr.

Response

"As this is the first time for us that we are involved in such a situation we naturally have a lot of open questions and need your advise." (6/29/2021) 

Metso Oyj

Industry
Machine Tools
Country
Finland
Sources

Metso lists Iranian company Yekta Tarh Garno Co. Ltd. In Tehran, Iran on the Metso website. (Metso, “Contacts.”)

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The Iranian firm, Raya Tosee Tajhiz Paya (“Raya Tosee”), claims to be an authorized agent of Metso in Iran.  (Raya Tosee Website, “Home.”).

Response

"According to Metso's internal guidance, all transactions involving lran have been prohibited since November 5, 2018. We have no knowledge of having, or having had, business ties with Raya Tosee TlhizPaya. Yekta Tarh Garno Co. Ltd acted as our agent while business to lran was still possible." (12/20/2019)

Temet Oy

Industry
Technology
Country
Finland
Sources

"During the exhibition, TEMET performed a quality audit to the AMAD factory in Tehran. We are now happy to announce that AMAD Design & Procurement Co. is now a certified manufacturer of TEMET PV-KK-S blast valves in Iran. The certificate was handed over by Mr. Konsta Hölttä, Development Engineer of Temet Oy, and was received by             Mr. Saeed Shafazand, CEO of Amad Design & Procurement Co."
 

Response

Response: “Before starting this business we presented our proposal to the United States Embassy in Helsinki and requested their approval for the same. Their advice was that if Temet provides products only the Oil & Gas market, this is Ok and will not affect Temet´s relations with the United States of America.” (June 13, 2017)

Finnvera

Industry
Financial Services
Country
Finland
Sources

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).

Nestor Cables

Industry
Telecommunications
Country
Finland
Sources

Listed as an exhibitor at the 2017 Iran telecoms Innovations exhibition.

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Nestor Cables was an exhibitor at the Iran Telecom Innovations Conference (the “Conference”) that took place on September 25‑28, 2016 in Tehran, Iran. (Nestor Cables Website, “Profile”; Iran Telecom Innovations Website, “Exhibitor List”).

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“[m]arket area in Iran is finally opening its doors for Western companies after years of embargo… Nestor Cables is interested in this new market area and its potential.”  (Nestor Cables Website, “Nestor Cables at Telecom Innovations 2016 in Iran 25.-28.9.2016,” 10/4/2016).

Bank of Finland

Industry
Banking
Country
Finland
Sources

On March 13, 2017, the Financial Times reported, “A task force comprising Iranian and Finnish bank executives and experts, which was formed to remove bilateral banking hurdles, has already made headway…” (Financial Tribune, “Iran, Finland Removing Banking Hurdles,” 3/13/2017.)

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Bank of Finland took part in a trade delegation to Tehran in October 2015.  (Islamic Republic News Agency, “Iran, Finland keen to expand bilateral ties,” 10/27/2015).

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According to a Finnish report, the Bank of Finland took part in a delegation of Finnish officials and businesses that took place October 25-26, 2016.  (EK (Helsinki), “Iran kansainvälisten yritysten huomion keskipisteessä,” 10/20/2016). 

Neste

Industry
Engineering
Symbol
HEL: NESTE
Country
Finland
Sources

Neste Jacobs took part in a delegation of Finnish officials and businesses that took place in Tehran on October 25-26, 2016.  (EK (Helsinki), “Iran kansainvälisten yritysten huomion keskipisteessä,” 10/20/2016).

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Neste Jacobs also participated in a “Team Finland” delegation to Iran in October 2015.  (Tehran Chamber of Commerce, Industries, Mines & Agriculture, “Team Finland Visit to Iran,” 10/26/2015).