"Russian shipbuilder Krasnye Barrikady and an Iranian company have signed a deal worth $1 billion to build five offshore drilling rigs for oil and gas exploration in the Persian Gulf. The deal signed with Iran’s Tasdid Offshore Development Company (TODC) on Sunday envisages the construction of each drilling rig over two years in the port city of Khorramshahr, TODC Managing Director Ehsanollah Mousavi said. The project will be jointly financed by Russia and Iran, and put the Islamic Republic among the countries capable of building drilling rigs... Mousavi signed the agreement with Krasnye Barrikady CEO Alexander Ilyichev, lending a fresh momentum to Iran’s oil and gas development, including its massive South Pars field." (Press TV, "Iran, Russia ink $1 billion oil rig deal," 08/28/2016).

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"Russian shipbuilder Krasnye Barrikady has been awarded a near-$1 billion contract by Iran to build five offshore drilling rigs for use on Iran's part of the Gulf shelf, a company official told Reuters. The project, which was under discussion for almost two years, will be financed jointly by Russia and Iran, the official said. Iran will soon make a 15 percent advance payment on the $200 million price of the first rig, he said." (Reuters, "Russian shipbuilder wins $1 bln Iran contract for five Gulf oil rigs," 5/23/2016)

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"An MoU was signed between Iran’s ISOICO and the Russian Krasnye Barrikady Shipyard on the sidelines of Russian National Industrial Exhibition - Trade and Industrial Dialogue: Russia – Iran 2015. The Memorandum of Understanding (MoU) was signed by managing directors of Iran Shipbuilding and Offshore Industries Complex Company (ISOICO) and the managing director of Russia’s Krasnye Barrikady Shipyard with the presence of Iran’s Deputy Minister of Industry, Mine and Trade Mojtaba Khosro Taj." (December 28, 2015).

"Before the July 2015 nuclear deal, most banking and finance headlines about Iran concerned individuals or banks being fined or coming under investigation for allegedly violating US sanctions. These days, news of banks and financial institutions working with Iran no longer necessarily raise eyebrows. However, an Iranian minister’s recent inference that MasterCard services will become available to Iranians has caused a stir. On Aug. 13, several Iranian media outlets quoted Minister of Communication and Information Technology Mahmoud Vaezi as saying that Iran Post Company has signed a deal with a foreign firm to make MasterCard services accessible to Iranians for the first time. 'Credit and debit cards, accepted in more than 210 countries where MasterCard is valid, will be distributed at financial branches of Iran Post Company from Aug. 23, which coincides with the beginning of Government Week,' Vaezi said. The news quickly made headlines around the world — but there have been doubts about its accuracy. MasterCard itself quickly reacted by denying any activity or cooperation with Iran. 'MasterCard does not have any activities in Iran, as sanctions have remained in place for US-based companies for some time,' the company’s spokesman Seth Eisen said Aug. 15. While the reported announcement by the Iranian minister and later denial of cooperation by MasterCard resulted in wide speculation in the Iranian media, Vaezi later tried to clarify what he described as a 'misunderstanding' about his remarks... Based on statements by Iranian officials, it appears that the Malaysia-registered Vision Card Iranian Co. will roll out a debit card service. According to the company’s website, it is the official representative of TransForex — an official prepaid issuer of MasterCard — in Iran." (Al-Monitor, "How MasterCard debacle got one Iranian minister in trouble," 08/29/2016).

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"Following recent report circulated by Iranian media regarding a plan by TransForex, a MasterCard issuer, to expand its operation to the Islamic Republic, a UK-based Iranian expert has suggested that forecasted growth for the economy, promises high returns and positive growth in the market to foreign service providers of financial services." (Trend, "Forecasted economic growth lures MasterCard issuer to Iran," 02/11/2016).

Brazilian Development Bank (BNDES) is planning to open a $1.2-billion credit line to continue trade with Iran and also investment making in the country, Brazilian Ambassador to Tehran Rodrigo de Azeredo Santos announced. (9/2/2018)

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"Directors of Brazil’s Embraer S.A. have arrived in Tehran to hold negotiations with Iranian counterpart while OFAC’s permit for aircraft sales to Iran is still pending. Purchase of new aircraft by Iran has turned into a controversial debate in the aviation industry. Huge contracts with Airbus and Boeing, though not finalized yet, remain as important issues since, upon completion, they could bring about major developments in aviation industry of the region. One issue hindering conclusion of agreements between Iranian airliners and world manufacturers is the need to obtain necessary permits from Office of Foreign Assets Control (OFAC) as a financial intelligence and enforcement agency of the US Treasury Department charged with planning and execution of economic and trade sanctions in support of US national security and foreign policy objectives... Meanwhile, the Brazilian Development Bank (BNDES) has already confirmed its interest to support sustainable growth of air transportation in Iran by financing the potential deal between the two sides." (Mehr, "Aircraft manufacturers await OFAC license to enter Iranian market," 08/29/2016).

As of December 2020, Rhode Island continues to list Hyundai Engineering as an Iran scrutinized company for active involvement of at least $50 million in Iran's energy sector. The company lists the Kangan Petro Refining Complex - Phase II Project in Iran as an active project (Company website, 09/2019). 

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"Iran's Kerman Motors and South Korea's Hyundai automaker signed a memorandum of understanding (MoU) on Tuesday to jointly produce a car model in Iran, semiofficial Fars news agency reported. The MoU to manufacture a new Elantra model was signed between CEO of Kerman Motors, Saman Firouzi, and director of South Korea's Hyundai Motors for Middle East and Africa Office, Mike Song, in Iran's southern Kerman city." (March 14, 2017).

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South Korea's Hyundai Engineering Co. (HEC) signed an agreement on Sunday for financing and constructing the second phase of Kangan Petro Refining Complex -- a major petrochemical and refinery project in southern Bushehr Province. (March 13, 2017).

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An Iranian investment fund signed a deal with Korea's Hyundai Engineering Co on Sunday for a 3 billion euro ($3.2 billion) petrochemical project, which is awaiting financing by Korean banks, the oil ministry's website SHANA said. A subsidiary of the Oil Pension Fund Investment Company signed the agreement which covers the construction of the second phase of the Kangan Petro Refining Company, SHANA reported. "The financing of this project will be finalised within nine months at the rate of 95 percent ... by South Korean banks," said Asghar Arefi, the Iranian official who signed the accord, according to SHANA. Arefi said the first phase of the Kangan project was 30 percent completed with an investment of nearly 120 million euros. Despite the lifting of international sanctions against Iran in January 2016, Iranian officials have complained that remaining U.S. sanctions have frightened away trade partners and robbed Iran of the benefits it was promised under its 2015 nuclear deal with world powers.(Reuters, "Korea's Hyundai Engineering In $3.2 Billion Iran Deal Awaiting Funding,"  3/12/2017).

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"An official has announced that seven new power plants will be constructed inside the country by Russian and South Korean companies. Mohsen Tarztalab, the General Manager of Iran's Thermal Power Plant Holding (TPPH), described signing of new contracts for designing and construction of new power stations in collaboration with foreign investors during the post-JCPOA era saying 'a Memorandum of Understanding (MoU) has been recently inked with Russian contractor Technoprom energy firm for building a 1400MW power plant in the southern Iranian port city of Bandar Abbas.' ... Moreover, South Korea's Hyundai Engineering Company (HEC) and Korea Electric Power Corp (KEPCO) have signed agreements with Iran over joint construction of three other power generating plants in Zanjan, Qom and Bafgh cities. (Mehr, "Foreign firms to build power houses in Iran," 08/28/2016)

"Flight-tracking site FlightRadar24 showed, in this screen capture taken Friday morning U.S. time, that airlines including Air France, British Airways, KLM, Lufthansa, Swiss, Austrian and Alitalia were avoiding Iran by flying north of it, and Iraq by flying to / from Europe over Saudi Arabia." (The Points Guy, "Major airlines are steering clear of Iranian airspace — except these," 1/11/20)

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According to its website, “Melika Seir is the direct agent of … British Airways” (https://melikaseir.com/en/services/).

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Will terminate flights to Tehran on September 22, 2018, citing the operation as being “currently not commercially viable.” "Air France-KLM, BA Pull Out of Iran Amid U.S. Sanctions," Bloomberg, 8/24/2018.

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September 2017 - British Airways, the UK’s flagship carrier, has opened a new office in Tehran, the head of Asia Pacific and Middle East Sales at BA said. “Iranian customers can choose their flights from Tehran to 200 destinations under the network of British Airways,” IRNA also quoted Robert Williams as saying on Saturday. BA resumed direct flights to Iran in September 2016 after a nearly four-year suspension following the lifting of sanctions on the country.”

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"British Airways plans to resume flights to Tehran Thursday evening, the latest restored link between the West and Iran since the lifting of nuclear sanctions in January. A Boeing 777 wide-body jetliner is scheduled to take off from London around 9 p.m., bound for Tehran, the first flight into Iran by the airline since 2012. It suspended service then amid tightening Western sanctions over Iran’s nuclear ambitions, which curtailed demand for travel to the country. British Airways plans to operate the service six times a week. The airline said the new service had received “a huge amount of interest.” (The Wall Street Journal, "British Airways Flights to Iran Set to Resume," 09/01/2016). -- "The long-awaited resumption of British Airways flights to Iran has been delayed until September. The six-weekly direct service to Tehran from London Heathrow was due to start from July 14 but has now been pushed back due to 'some technical issues'. News of the route reopening in February was greeted with enthusiasm by British travellers, with tour operators offering trips to Iran registering a surge in interest. But now those keen to travel on the airline’s first direct flights to the country since 2012, when political tension was peaking following the severance of diplomatic relations with the West, will have to wait. A spokesperson for British Airways told Telegraph Travel that Tehran remains an importation destination for the airline." (Daily Telegraph, “BA postpones its relaunch of flights to Iran,” 6/22/2016)