As of August 27, 2019, CIB is listed on the Illinois Investment Policy Board list of Iran restricted companies.
As of July 2021, Agiba Petroleum Co. is not listed on the U.S. state of Mississippi's list of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors.
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In 2020, the U.S. state of Mississippi listed Agiba on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering ADKL ineligible for investment and/or state contracting.
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As of July 1, 2019, Mississippi listed Agiba Petroleum Co., on its list of companies doing business with Iran.
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As of March 13, 2019, Mississippi listed Agiba Petroleum Co., on its list of companies doing business with Iran.
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In 2017, the U.S. state of Mississippi, listed Agiba Petroleum Co. on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering Agiba ineligible for investment and/or state contracting.
Tri-Ocean Energy is a subsidiary of Egypt Kuwait Holding
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The Tri-Ocean Energy Website lists the U.S. as a location for "Projects Under Study"
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"The Syrian government of President Bashar al-Assad has received substantial imports of Iraqi crude oil from an Egyptian port in the last nine months, shipping and payments documents show, part of an under-the-radar trade that has kept his military running despite Western sanctions…Dozens of shipping and payment documents viewed by Reuters show that millions of barrels of crude delivered to Assad's government on Iranian ships has actually come from Iraq, through Lebanese and Egyptian trading companies. The trade, which is denied by the firms involved, has proven lucrative, with companies demanding a steep premium over the normal cost of oil in return for bearing the risk of shipping it to Syria. It also highlights a previously undisclosed role of Egypt, Iraq and Lebanon in Assad's supply chain, despite those countries' own restrictions on assisting his government. Both the Syrian national oil company that received the oil, Sytrol, and the Iranian shipping operator that delivered it, the National Iranian Tanker Co (NITC), are on U.S. and EU sanctions lists barring them from doing business with U.S. or European firms, cutting them off from the U.S. and EU financial systems and freezing their assets…At least four firms from third countries that were added to the U.S. Treasury's sanctions list for Iran when it was last updated on Dec. 12 were punished specifically 'for providing material support to NITC,' the Treasury said. ’We have been very focused on targeting Iranian attempts to aid the Assad regime through economic as well as military means,’ said a Treasury Department spokesman. He declined to comment on the specific activities described in the documents reviewed by Reuters but said companies and individuals had been added to the sanctions list for similar types of activity…The documents refer to at least four shipments by four tankers named Camellia, Daisy, Lantana and Clove, each of which is operated by Iran's NITC and, say the documents, carried Iraqi oil from Egypt's Mediterranean port of Sidi Kerir to Syria. According to the documents, Beirut-based trading firm Overseas Petroleum Trading (OPT) invoiced Syria for arranging at least two of the shipments and was involved in a third, while a Cairo-based firm, Tri-Ocean Energy, was responsible for loading Iraqi oil into at least one. Both OPT and Tri-Ocean denied any involvement in the Syria trade, declining to offer an alternative explanation for what the documents and ship tracking data show. An EU country government source said Tri-Ocean is already under scrutiny by the United States for suspected violations of sanctions against Iran, giving no further details. The U.S. Treasury spokesman declined to comment on specific investigations…Egyptian oil firm Tri-Ocean Energy, which has brokered deals for OPT in the past, loaded at least one cargo of Iraqi crude onto an Iranian tanker that was delivered into Syria by OPT at the end of May, according to the documents, which say the oil was delivered to Syria on the Iranian tanker Clove on May 26. Tri-Ocean's senior trading director Ali Tolba denied in an email that his company supplied Syria with crude or had loaded Iraqi oil onto Iranian tankers. He and Tri-Ocean's CEO, Mohammed el-Ansary, did not respond to a request from Reuters to review the documents seen by Reuters. Syria's Sytrol did not respond.” (Reuters, “RPT-EXCLUSIVE-Assad's secret oil lifeline: Iraqi crude from Egypt,” 12/24/13)
"The Syrian government of President Bashar al-Assad has received substantial imports of Iraqi crude oil from an Egyptian port in the last nine months, shipping and payments documents show, part of an under-the-radar trade that has kept his military running despite Western sanctions…Dozens of shipping and payment documents viewed by Reuters show that millions of barrels of crude delivered to Assad's government on Iranian ships has actually come from Iraq, through Lebanese and Egyptian trading companies. The trade, which is denied by the firms involved, has proven lucrative, with companies demanding a steep premium over the normal cost of oil in return for bearing the risk of shipping it to Syria. It also highlights a previously undisclosed role of Egypt, Iraq and Lebanon in Assad's supply chain, despite those countries' own restrictions on assisting his government. Both the Syrian national oil company that received the oil, Sytrol, and the Iranian shipping operator that delivered it, the National Iranian Tanker Co (NITC), are on U.S. and EU sanctions lists barring them from doing business with U.S. or European firms, cutting them off from the U.S. and EU financial systems and freezing their assets…At least four firms from third countries that were added to the U.S. Treasury's sanctions list for Iran when it was last updated on Dec. 12 were punished specifically ‘for providing material support to NITC,’ the Treasury said. ’We have been very focused on targeting Iranian attempts to aid the Assad regime through economic as well as military means,’ said a Treasury Department spokesman…The documents refer to at least four shipments by four tankers named Camellia, Daisy, Lantana and Clove, each of which is operated by Iran's NITC and, say the documents, carried Iraqi oil from Egypt's Mediterranean port of Sidi Kerir to Syria…A representative of the Arab Petroleum Pipeline Company, which is known as SUMED and owns and operates Egypt's Mediterranean port of Sidi Kerir where the oil tankers loaded, had no comment. SUMED is half owned by the Egyptian state oil company EGPC and half by a group of four other Arab countries…After leaving Iraq, the crude oil was delivered to Sidi Kerir on the 200 mile (320 km) SUMED pipeline, which runs from the Red Sea to the port west of Alexandria, where it was loaded onto Iranian ships.” (Reuters, “RPT-EXCLUSIVE-Assad's secret oil lifeline: Iraqi crude from Egypt,” 12/24/13)
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"Egypt will not stop transporting Iranian oil through the Suez Canal and internal pipelines despite the EU embargo on oil exports, Egypt's Al Ahram newspaper reported on Sunday quoting a source . . . 'Iranian oil, like any other oil, is transported in terms of contracts which are updated every year. We have not received any notifications to ban oil shipments from Iran,' the source in Egyptian energy sector told the paper. Iranian oil is transported through pipelines owned by Egyptian SUMED firm, the paper says. 'The embargo only affects the EU states, we do not have anything to do with it,' the source added."(RIA Novosti, "Egypt to Continue Iranian Oil Transit Despite EU Embargo," 7/15/12)
"Egypt is expanding its financial ties with Iran through a jointly owned financial institution: the Misr Iran Development Bank. MIDB was founded in 1975, four years before Iran's Islamic revolution, and has somehow endured the tumult since. Today, the MIDB may have become a vehicle for Iran to circumvent economic sanctions with extensive help from Egypt, one of America's closest allies in the region. It is a testament to how difficult it can be for the U.S. to enforce international sanctions, even among countries that appear to be natural allies in the effort to deter Iran.
Egypt controls 59.86 percent of MIDB, split evenly between the state-owned National Investment Bank and Misr Insurance Company, which is partially owned by the state. Iran's 40.14 percent share in MIDB, worth about $80 million, is held by the Iran Foreign Investment Company. The IFIC is the investment arm of Iran's Oil Stabilization Fund, a sovereign wealth vehicle that generates profits for the Iranian government, with investments in the Middle East, Africa, South America, and beyond.
Tehran created the stabilization fund in 1999 to help insulate it from the gyrations of the oil market. When oil was up, the regime threw money into the fund and invested it through the IFIC. When oil was down, Iran withdrew money from the IFIC's investments to make up the shortfall. In the face of severe international sanctions, Iran has been withdrawing heavily of late. This August, when it became clear that the stabilization fund enabled the Iranians to resist international sanctions, the U.S. Treasury Department placed it on the Iranian Transactions Regulation (ITR) list, an administrative designation that made it unlawful for Americans to do business with the company because it is "wholly owned by the Government of Iran....
In 2009, as the international community began to discuss ways to punish the Islamic Republic for its illicit nuclear program, the bank transferred $50 million to Iran, according tot he govenrment-controleld Tehran Times." (The Atlantic, "How Egypt is Helping Iran to Circumvent Sanctions," 11/15/10)
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Listed as providing services for Iranian banks. (Avi Jorisch, "Iran's dirty banking," 2010)
Eye on Iran is a news summary from United Against Nuclear Iran (UANI), a section 501(c)(3) organization. Eye on Iran is available to subscribers on a daily basis or weekly basis.