Trading

Advantage Austria

Industry
Trading
Country
Austria
Sources

Advantage Austria's website states that "Advantage Austria in Tehran also functions as the Commercial Section of the Austrian Embassy in Iran. For more than 50 years we have been enhancing the profile of Austria as an investment location, a high-tech manufacturing base and a renowned source of innovative products and custom-tailored business solutions."

Dalian Golden Sun Import & Export Co., Ltd.

Industry
Trading
Country
China
Sources

On March 18, the U.S. Department of State imposed sanctions, pursuant to Executive Order (E.O.) 13846, on Dalian Golden Sun Import & Export Co., Ltd. for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran. (U.S. Department of State, "Sanctions on Entities Trading in or Transporting Iranian Petrochemicals, "3/18/2020). 

    IMAG GmbH

    Industry
    Trade Conference
    Country
    Germany
    Sources

     

    "US ambassador to Germany Richard Grenell has launched an inquiry into whether the giant German trade fair company IMAG conducts business with the Islamic Revolutionary Guard Corps, The Jerusalem Post has learned." (Jerusalem Post, "After ‘Post’ report, U.S. investigates German company link to Iran terror," 11/3/2019).

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    IMAG Managing Director Mr. Bergleiter said, “The 14th IranConMin has demonstrated its importance as a leading trade fair for construction and mining with a high quality of both exhibitors and visitors.... The companies taking part also noticed more interest from visitors from Iran's neighboring countries. With these positive impressions, we're already working on the 15th IranConMin for next year.” (IMAG Webpage, “IMAG – Press Release [“Leading Iranian trade fair for construction and mining IranConMin
    2018 proves a success
    ”])

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    IMAG claims, “[w]hether in Dubai, Johannesburg, Las Vegas, Moscow, New Delhi, Shanghai or Tehran – we are on home turf. (IMAG Website “IMAG – Your key to global markets”)

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    Pro-Iran trade conferences continue to be enabled by the help of European organisers. IMAG GmbH, for instance, one of the world’s top trade fair organisers and one of the biggest exhibition companies in Germany, has helped organize multiple conferences in Iran.
    IMAG Managing Director Peter Bergleiter cutting the ribbon at the IranConMin (International Exhibition of Mines, Mining, Construction Machinery and Related Industry & Equipment) in Tehran in November 2018:

    Ciech Trading S.A.

    Industry
    Shipping, Trading
    Country
    Poland
    Sources

    "Poland’s Ciech Group, one of the leaders on the European chemical industry, has halted trade with Iran after the country’s top diplomat called on the EU to show “great empathy” towards US motives in reimposing sanctions on Tehran." (5/29/2018).

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    In May 2017, Ciech revealed that “[i]n Q1 2017, Ciech Sarzyna received registration of a new product in Poland (Chwastox Complex) and registration of the existing plant protection chemicals in Iran, Azerbaijan, and Spain.”  (Ciech Group, “Ciech Group: Solid financial results in Q1 2017,” 17/05/2017). 

    In January 2017, Ciech CEO Tomaz Grzela said that his Ciech was “interested in investments in Iran in bunkering and transporting LNG, LPG and petrochemicals.” (Central European Financial Observer, “Poland plans to expand cooperation with Iranian companies in maritime transport,” 1/24/2017). 

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    A November 2016 article also stated, “National Iranian Tanker Company (NITC) and Polish company Ciech Trading SA, a subsidiary of Ciech SA are willing to sign an agreement aimed at transporting Iranian crude, LNG and petrochemicals as well as bunker of ships.”  (Poland at Sea, “Poland ready to cooperate with Iran in marine transportation,” 10/04/2017

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    "Iran and Poland held negotiations in Tehran over launching a joint shipping line for transport of crude oil, petrochemical products as well as liquefied gas. A fresh round of talks was conducted in Tehran between National Iranian Tanker Company (NITC) and Poland’s Ciech Trading S.A. to establish a joint company to transport petrochemicals and liquefied gas in addition to development of bunkering industry. Tomasz Grzela, Managing Director of Ciech Trading S.A., said at the meeting that his company eyes expansion of ties with NITC in the post-JCPOA era; “accordingly, we are eager to begin joint investment in a wide variety of fields like bunkering as well as carrying of petrochemical products and liquefied natural gas (LNG).” The Polish official asserted that a joint firm will be formed by NITC and Ciech Trading S.A. in order to bolster relations." (Mehr News Agency, "Iran, Poland to establish joint shipping line," 11/22/2016).

    Gunvor

    Industry
    Trading
    Country
    Switzerland
    Sources

    On June 30, 2020, the Mississippi Department of Finance & Administration identified Gunvor as a company “engaged in investment activities in Iran, providing funds, goods or services valued at $20,000,000 or more in the energy sector of Iran.”  

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    "Gunvor Group, which deals with about 2.7 million barrels a day of crude oil and other products, opened offices in Houston and Connecticut last year, said it would not be handling Iranian oil in the foreseeable future.  

    “Gunvor does no trading with Iran. We comply strictly with all applicable international sanctions, and will not trade oil or products with any country, including Iran, that would consist of a violation of those sanctions,” said Gunvor spokesman Seth Pietras." (9/27/2017)

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    In 2017 the U.S. state of Mississippi listed Gunvor on its Iran restricted companies list rendering Gunvor ineligible for investment and/or state contracting.

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    "Major oil firms and trade houses are gradually resuming energy trading with Iran but efforts remain very cautious and often face huge legal obstacles, meaning a post-sanctions return to full-scale activity will take weeks if not months. Trading sources told Reuters major trading houses Gunvor and Vitol have each delivered several cargoes of gasoline into Iran in the past few weeks... Meanwhile, Swiss trading house Litasco of Russian oil major Lukoil (LKOH.MM) had to cancel a booking of a tanker to transport oil from Iran to Italy in early February due to what trading sources described as ship insurance difficulties. Trading sources on Wednesday cited preliminary fixtures being made by Glencore and Total for tankers to lift Iranian crude in February although it was still unclear if the deals had been concluded partly due to insurance issues. 'It is still very difficult despite the sanctions removal. Dollar clearing is an issue, banks' letters of credit is an issue, ship insurance is an issue. Loads of people are still very cautious,' said a senior trading executive. Leading shipping players say efforts by Iran to start exporting oil to Europe are being held up as tanker owners are still struggling to secure insurance for cargoes... Third-party liability insurance and pollution cover for vessels is provided by P&I clubs - marine insurers owned by shipping clients and reinsured internationally. The umbrella International Group of P&I clubs is still unable to confirm payments under re-insurance contracts. 'Gasoline exports to Iran are a bit easier as tankers are much smaller, insurance is easier and there are banks which are willing to do this as non-dollar transactions,' one senior trading source familiar with the matter said... 'It will take weeks if not months to return to full-scale crude exports to Europe. Tonnes of papers will need to change hands between inhouse risk officers, lawyers and banks before the picture is fully clear,' said a trading executive involved in the discussions. But ultimately oil should flow at full steam. 'It's just a matter of price. If the price is good, we'll buy it,' Marco Schiavetti, director of supply and trading with Italy's Saras said of Iranian oil. 'Obviously we will talk to them soon, and we will consider.'" (Reuters, “Gasoline cargoes sail to Iran, crude exports still tough,” 1/27/2016)

    Response

    "Please note that Gunvor does no business with Iran. The understanding asserted by the Mississippi Department of Finance & Administration that Gunvor is “engaged in investment activities with Iran, providing funds, goods or services valued at $20,000,000 or more in the energy sector of Iran”, is entirely false." (8/10/2020)

    Posco Daewoo

    Industry
    Trading
    Symbol
    KRX: 047050
    Country
    South Korea
    Sources

    As of May 17, 2021, Iowa's Public Employee's Retirement System lists Posco Daewoo on its Iran Scrutinized Companies List.

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    As of August 15, 2019, the state of Iowa listed Posco Daewoo on its Iran scrutinized companies list.

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    In 2018 the U.S. state of Iowa listed Posco Daewoo as an Iran restricted company rendering Posco Daewoo ineligible for investment and/or state contracting. Combine with the Daewoo page.

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    "Posco Daewoo, along with Hyundai Engineering & Construction (E&C), signed a deal with Iran's Ministry of Health and Medical Education to build a hospital for Shiraz University of Medical Sciences, one of the country's top medical schools. Posco Daewoo will supply medical equipment, while Hyundai E&C will be responsible for construction.” (Korea JoongAng Daily, “Posco signs deals to export its tech to Iran,” 4/29/2016)

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    Daewoo International is a subsidiary of South Korean Steel Company POSCO

    Company website lists branch in Tehran, Iran as part of its "Global Network." (Company website)

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    Daewoo International reportedly participating in the Iran Mines & Mining Industries Summit, being held in Tehran May 31-June 1, 2015. (IMIS Website, “List of companies participating in IMIS”)

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    "Daewoo International maintains an office in Iran, according to its website. It is an international trading company involved in everything from chemicals to construction. Daewoo Corporation won construction contracts from the  U.S. Army Corps of Engineers while Daewoo International fell under its corporate umbrella. Daewoo International was subsequently spun off and today is a separate company."  The company received $10.4 million from the US government for their investments in Iran during 2000-2009.  Their business in Iran is currently active. (The New York Times, "Profiting from Iran, and the US," 3/6/2010)