Spain

Técnicas Reunidas

Industry
Engineering
Country
Spain
Sources

In 2012 Técnicas Reunidas was removed from Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran because it was determined the companies involvement was in the past.

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In 2011, Técnicas Reunidas was added to the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement in Iran because of oil-related investment of US $20 million since 1996.

Mecanicas Bolea

Industry
Energy
Country
Spain
Sources

Mecanicas Bolea, S.A. (“Mecanicas Bolea”) is listed as an exhibitor at the 23rd International Oil, Gas, Refining and Petrochemical Exhibition (“IOGRPE”), which will take place at the Tehran International Permanent Fairground on May 6-9, 2018. (Iran Oil Show 2018 Website, “Exhibition”).

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"Companies from several countries, including Spain, France and China, have expressed readiness to launch joint ventures in Iran's lucrative petrochemical sector.  Spain's Mecanicas Bolea S.A. is helping Iranian experts construct a desalination plant in Kangan Petro Refining Complex—a major petrochemical and refinery project in southern Bushehr Province.

Pedro Saura Cabello, director general of Spanish Mecanicas Bolea S.A., made the statement in Tehran on Monday, NIPNA, the National Petrochemical Company's news agency reported. 

"There are good opportunities to expand collaboration between Iranian and Spanish industrial firms and we are trying to promote cooperation," Cabello said. According to the official, the company has been involved in designing and manufacturing petrochemical equipment for the past 30 years.

"Mecanicas Bolea specializes in designing pressure vessels as well as heat exchangers," Cabello said, adding that Iranian experts can draw on the company's expertise to design petrochemical units." (Reuters, "Foreign Companies Eager to Make Petrochem Investment," 5/7/2018).

Ibaizabal SA

Industry
Shipping
Country
Spain
Sources

According to publicly accessible ship-monitoring data, since January 1, 2016, Ibaizabal-operated vessels have called at Iranian ports on numerous occasions.

Response

"Any calls by our vessels to Iran in 2018, 2017 and prior to May 8, 2018 were permissible activities, as the U.S. secondary sanctions against Iran were lifted during that period of time. Any calls of our vessels to Iran after May 8, 2018 were carried out under the authorization issued by the U.S. Office of Foreign Asset Control to wind-down pre-May 8 Iran-related transactions. Our pre-May 8 Iran-related transactions are already completed in their entirety well ahead of November 4, 2018. We do not expect any voyages to/from Iran thereafter." (10/24/2018)

Esproenko International

Industry
Engineering
Country
Spain
Sources

According to the Esproenko website, Esproenko operates a registered branch in Tehran, Iran.

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Esproenko International, which specializes in oil and gas services, announced on Saturday that it will continue its business activities in Iran, irrespective of Washington's sanctions against Tehran. (Financial Tribune, 8/19/2018).

Bralo

Industry
Technology
Country
Spain
Sources

Iranian oil and gas firm, Espak Company, which attended the 24th Iran Oil Show of 2019 that took place May 1-4 in Tehran, Iran, features Bralo on the Espak website.

Arflu SA

Industry
Energy
Country
Spain
Sources

Narvan Arra, an Iranian infastructure company, lists Arflu as a partner on its website

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Arflu signed a “Letter of Agency” signed by then Arflu CEO Juan Arana on November 16, 2016 granting exclusive agency rights to the Iranian firm, Petro Farayand Sadid (“Petrosadid”) in Iran. The letter states: We, ARFLU, Hereafter referred to as the Company, herewith appoint Petro
Farayand Sadid, represented by Managing Director Mr. Saeed Aliashrafi, having its office at Unit 3, No. 20, Baharan 1st., Shokoofan 2nd., Darya Blvd, Shahrak Gharb, Tehran, IRAN, P.O BOX: 1998915554, hereafter referred as the agent, as our EXCLUSIVE AUTHORIZED AGENT in the territory of IRAN. On behalf of the Company, the agent is authorized to negotiate with the customers /clients for the orders of supplying the products. Further detail s of the scope of agreement are drawn under the agency agreement signed by both parties. This certificate will remain valid till December 31, 2019. (Petrosadid Website, “EXCLUSIVE AGENCY LETTER,” 11/16/2016).

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Arflu is featured on the Petrosadid website as one of its Worldwide Partners.

Banco Bilbao Vizcaya Argentaria (BBVA)

Industry
Banking
Symbol
NYSE BBVA
Country
Spain
Sources

According to its Annual Report filed with the SEC for fiscal year 2019: "The BBVA Group discloses the following information pursuant to Section 13(r) of the Exchange Act, which requires an issuer to disclose whether it or any of its affiliates knowingly engaged in certain activities, transactions or dealings relating to Iran or with natural persons or entities designated by the U.S. government under specified executive orders, including activities not prohibited by U.S. law and conducted outside the United States by non-U.S. affiliates in compliance with local law. In order to comply with this requirement, the Company has requested relevant information from its affiliates globally.

The BBVA Group has the following activities, transactions and dealings with Iran requiring disclosure:

Legacy contractual obligations related to counter indemnities. The BBVA Group made a payment of $642 to Bank Melli on July 11, 2019, due to outstanding commissions on the counterindemnity executed on October 16, 2018. Such counterindemnity was issued in April 2000 and has been regulatory reported until its execution in 2018.

Iranian embassy-related activity. The BBVA Group maintains bank accounts in Spain for one employee of the Iranian embassy in Spain. This employee is a Spanish citizen. Estimated gross revenues for the year ended December 31, 2019, from embassy-related activity, which include fees and/or commissions, totaled $2,225. The BBVA Group does not allocate direct costs to fees and commissions and therefore has not disclosed a separate profit measure. 

The BBVA Group is committed to terminating these business relationships as soon as legally possible."

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As of August 27, 2019, Banco Bilbao Vizcaya Argentaria (BBVA) is listed on the Illinois Investment Policy Board Iran Restricted Companies list. 

Response

BBVA closed its Tehran representative office in 2008 (4/16/2018)

Tubacex

Industry
Energy
Symbol
BME: TUB
States
TX
Country
Spain
Sources

As of July 2020, Tubacex remains on the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran because of oil-related investment of US $20 million since 1996. 

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As of October 2019, Tubacex remains on the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran because of oil-related investment of US $20 million since 1996.

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The CEO of the National Iranian Oil Company (NIOC) said the implementation of a contract with Spain’s Tubacex for providing CRA pipelines is “satisfactory”, adding removing production bottlenecks of the project is under way for technology transfer to Iran. (5/9/2018)

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"By signing a contract worth $630 million with an Iranian-Spanish consortium on Wednesday, Iran joined the world’s manufacturers of special pipes, which are of strategic importance in the oil and gas industry. The contract was signed in Tehran by the National Iranian Oil Company (NIOC) and the consortium, which includes Spain’s TUBACEX and Iran’s Mobarakeh Steel Company. The project aims to produce pipes made of corrosion resistant alloy (CRA) for a network of 600 kilometers over three years." (May 24, 2017). 

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In 2017, Tubacex was added to the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement in Iran because of oil-related investment of US $20 million since 1996 and new involvement was identified.

Telefonica SA

Industry
Telecommunications
Symbol
BME: TEF
States
FL
Country
Spain
Sources

According to its annual report filed with the SEC in 2020, "Some of our subsidiaries have entered into roaming agreements with Iranian telecommunication companies. Pursuant to such roaming agreements our subsidiaries’ customers are able to roam in the particular Iranian network (outbound roaming) and customers of such Iranian operators are able to roam in our relevant subsidiary’s network (inbound roaming). For outbound roaming, our subsidiaries pay the relevant Iranian operator roaming fees for use of its network by our customers, and for inbound roaming the Iranian operator pays the relevant subsidiary roaming fees for use of the respective network by its customers.

Our subsidiaries were party to the following roaming agreements with Iranian telecommunication companies in 2019:

(1)

Telefónica Móviles España S.A. (“TME”), our Spanish directly wholly-owned subsidiary, has respective roaming agreements with (i) Mobile Telecommunication Company of Iran (“MTCI”), (ii) MTN Irancell (“Irancell”), (iii) Taliya (“Taliya”), and (iv) Telecommunication Kish Co (“TKC”). During 2019 TME recorded the following revenues related to these roaming agreements: (i) 67,273.13 euros from MTCI, (ii) 323.77 euros from Irancell, (iii) no revenues from Taliya, and (iv) no revenues from TKC.

 

Until December 31, 2019, TME also held a roaming hub through its 55% directly-owned subsidiary, Link2One, a.e.i.e. (“L2O”). Under the related agreement, L2O provided a roaming hub service to Irancell enabling the latter to maintain a relationship with other members of the hub. Some entities of the Telefónica Group were members of the hub. During 2019, L2O recorded revenues of 9,000.00 euros from Irancell. L2O terminated its agreement with Irancell on June 30, 2019. The roaming arrangement between TME and Irancell under the L2O framework was terminated on April 30, 2019.

(2) Telefónica Germany GmbH & Co. OHG (“TG)our German 69.22% indirectly-owned subsidiary, has respective roaming agreements with (i) MTCI and (ii) Irancell. During 2019 TG recorded the following revenues related to these roaming agreements; (i) no revenues from MTCI and (ii) 7,441.13 euros from Irancell.

(3) Telefónica UK Ltd (“TUK”), our English directly wholly-owned subsidiary, has a roaming agreement with Taliya. During 2019 TUK recorded no revenues from Taliya. Until April 30, 2019, TUK also had a roaming arrangement with Irancell under the L2O framework, which was terminated on such date. TUK recorded 314.54 euros in roaming revenues under such roaming arrangement.

(4) Telefónica Argentina, S.A. and Telefónica Móviles Argentina, S.A. (together TA”), our Argentinean directly and indirectly wholly-owned subsidiaries, had a roaming arrangement with Irancell under the L2O framework that was terminated on April 30, 2019. During 2019 TA recorded 0.89 euros in roaming revenues under such roaming arrangement.

(5) Telefônica Brasil S.A. (“TB”), our Brazilian 73.68% indirectly-owned subsidiary, has a roaming agreement with Irancell. During 2019, TB recorded 0.68 dollars in roaming revenues and had 169.11 dollars (before taxes and 184.32 dollars after taxes) of expenses payable to Irancell under this agreement.

(6) Pegaso PCS S.A. de C.V. (“PCS”), our Mexican directly wholly-owned subsidiary, has a roaming agreement with Irancell. During 2019 PCS recorded 9.33 euros in roaming revenues under this agreement.

 7) Telefónica del Perú, S.A.A. (“TdP”), our Peruvian 98.57% indirectly-owned subsidiary, had a roaming arrangement with Irancell under the L2O framework that was terminated on April 30, 2019. During 2019 TdP recorded no revenues under such roaming arrangement.

(8) Colombia Telecomunicaciones, S.A. ESP ("ColTel"), our Colombian 67.50% directly and indirectly-owned subsidiary, had a roaming arrangement with Irancell under the L2O framework that was terminated on April 30, 2019. During 2019, ColTel recorded no revenues under such roaming arrangement.

(9)Telefonía Celular de Nicaragua S.A. (“TN”), in respect of which we indirectly held a 60% stake until May 16, 2019 (the date on which we completed the sale of such stake), had a roaming arrangement with Irancell under the L2O framework that was terminated on April 30, 2019. During 2019, TN recorded no revenues under such roaming arrangement.

(10) Telefonica Móviles del Uruguay S.A. (“TMU”), our Uruguayan directly wholly-owned subsidiary, had a roaming arrangement with Irancell under the L2O framework that was terminated on April 30, 2019. During 2019 TMU recorded 0.24 euros in roaming revenues under such roaming arrangement.

(11)Telefónica Móviles Chile S.A. (“TCH”), our Chilean directly wholly-owned subsidiary, had a roaming arrangement with Irancell under the L2O framework that was terminated on April 30, 2019. During 2019 TCH recorded 4.94 euros in roaming revenues under such roaming arrangement.

The net profit recorded by our subsidiaries pursuant to these agreements and arrangements did not exceed the related revenues recorded thereunder.

The purpose of all of these agreements is to provide our customers with coverage in areas where we do not own networks. For this purpose, we intend to continue maintaining those agreements which are still outstanding.

The Group does not currently have any forthcoming plans to enter into new roaming arrangements with Iranian telecommunication companies. However, the Group may consider entering into such arrangements in the future."

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In 2019 Telefonica was removed from the Texas Comptroller List of Companies Engaging in Scrutinized Business Operations in Iran. 

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In 2018 Telefonica was listed on the Texas Pension Review Board List of Scrutinized Companies doing business in Iran pursuant to Chapter 807.054, Government Code.  
 

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In 2018 the U.S. state of Ohio listed Telefonica as an Iran restricted company rendering Telefonica ineligible for investment and/or state contracting.