Interpipe

Energy
Ukraine

[email protected]

"The fourth richest man in Ukraine, Pinchuk owns Interpipe Group, a Cyprus-incorporated manufacturer of seamless pipes used in oil and gas sectors. Newsweek has seen declarations and documents from Ukraine that show a series of shipments from Interpipe to Iran in 2011 and 2012, including railway parts and products commonly used in the oil and gas sectors. Among a number of high-value invoices for products related to rail or oil and gas, one shipment for $1.8m (1.7m) in May 2012 was for “seamless hot-worked steel pipes for pipelines” and destined for a city near the Caspian Sea. Both the rail and oil and gas sectors are sanctioned by the US, which specifically prohibits any single invoice to the Iranian petrochemical industry worth more than $1m. However, US sanctions laws are complex and, in certain areas, ill-defined. Interpipe may qualify for penalties due to the mere presence on American soil of North American Interpipe Inc, its United States subsidiary." (Newsweek, "Hillary Clinton's Big Benefactor Has Trade Links with Iran," 4/18/15)