In 2017 the U.S. state of Minnesota, Pennsylvania, Mississippi, Rhode Island, South Carolina, andTennessee listed Iran on its restricted companies list rendering Gubretas ineligible for investment and/or state contracting.
Gubretas, full name Gubre Fabrikalari TAS, is a Turkish chemical fertilizer company, and describes itself as "one of the biggest industrial corporations in Turkey." In addition to manufacturing and trading all types of fertilizer, it also provides port service to assist in their transportation and export (Company Website).
"Turkish hotels and travel agents reported a sharp jump in bookings from Iranian tourists this week while traders in Istanbul's famed bazaar said more Iranian businessmen have been buying Turkish goods in bulk to sell back home. The pickup in activity immediately after Iran won relief from international sanctions in a nuclear agreement over the weekend signaled that Turkey's slowing economy may be among the first to reap economic benefits from the deal. Companies and merchants anticipate the once-burgeoning trade between the neighboring countries will thrive again…The nuclear agreement also allows Iran to resume exporting and importing some gold and precious metals—an industry that could generate $1.5 billion in government revenues for Tehran, according to the U.S. It also suspends some sanctions on auto and petrochemical exports…For Turkish companies with operations inside Iran, the interim deal is already bringing benefits. Turkish fertilizer producer Gubre Fabrikalari, or Gubretas, which has a 49% stake in the Razi Petrochemical Company, Iran's largest fertilizer production facility, saw its stock rise as much as 7.3% after the deal was announced. 'The deal is definitely positive for us. We used to experience logistical problems when transferring our products due to petrochemical sanctions,' said Huseyin Karakus, investment-relations manager at Gubretas. 'We're already seeing our operation costs decline and we hope money transfers will be easier.'" (Wall Street Journal, "Turkey Expects Boon to Trade With Iran from Nuclear Deal Easing Sanctions," 11/28/13)
In February 2011, Gubretas's chairman revealed that the company had been approached by Iranian companies for advice in evading US banking restrictions. Bloomberg reported that this solicitation concurred with Gubretas's plans to add 1 million tons of production capacity at its Iranian fertilizer plant.