Transammonia actively does business in Iran via a Swiss subsidiary. (CNBC. "Transammonia:A Story of American Business in Iran," 12/7/10)
Transammonia has performed business dealings with the Iran Petrochemical Commercial Company (IPCC), which is the subsidiary and international trading arm of the National Petrochemical Company (NPC). NPC is wholly owned by the Iranian government. It is responsible for the development and operation of the country's petrochemicals sector and is the second largest producer and exporter of petrochemicals in the Middle East after Saudi Arabia's Sabic.
On June 16, 2010, the U.S. Treasury Department added NPC and its subsidiary IPCC to the Iranian Transactions Regulations (ITR), which “prohibit transactions between U.S. persons and the Government of Iran. These identifications allow U.S. persons and others to identify Iranian Government entities and protect themselves against the risks posed by such entities.” (U.S. Department of Treasury, “Fact Sheet: U.S. Treasury Department Targets Iran’s Nuclear and Missile Programs,” 6/16/10)
February 2010: “Transammonia purchased 23,000 tonnes from IPCC at $370/tonne FOB for late March loading from BIK [(Bandard Imam Khomeinei)].” (Chemical News & Intelligence, 2/24/10)
July 2009: “This price was $18/tonne lower than last done spot business in the Middle East, which was concluded at $200/tonne FOB following a sale by Iran's Petrochemical Commercial Co (PCC) to trader Transammonia.” (Chemical News & Intelligence, 7/3/09)
May 2009: “Trader Transammonia confirmed it had purchased 23,400 tonnes from Iran Petrochemical Commercial Co (IPCC) at $200/tonne FOB (free on board) with 30 days' credit… Transammonia will ship 15,000 tonnes on 18-21 May on the Marycam Swan for shipment to the southeast Asia. The balance of the purchase will be lifted later, it said.” (Chemical News & Intelligence, 5/14/09).
May 2006: The Agricultural Support Services Company of Iran (ASSC) “received nine offers from traders and purchased urea from Transammonia at Euro212/tonne cost and freight (CFR) southern Iranian ports.” (Chemical news & Intelligence, 5/8/06)