Italy

BFS Drums, a direct investment of Italian manufacturing company SIMIC S.p.A., operates a large steel drum factory out of the Salafchegan Special Economic Zone near Tehran.  The factory produces thousands of steel drums for Iranian companies for various storage uses including oil and gas, bitumen and petrochemicals. (Company Website)

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According to a presentation given by Marianna Ginola of SIMIC S.p.A. to the Project Management Institute's Northern Italy Chapter, SIMIC established BFS as a "new business in Iran even active in an expansion that occupies 50 local dependents."  This presentation also lists a major 2011 project in Iran, a 400,000 kg "pressure column for the petrochemical sector."

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SIMIC S.p.A. lists two Iranian companies, NIORDC and PIDEC, as "Principal Clients" of the company's "Workshop Division." (Company Website)

May 2017 - MPP GROUP is announced as the sole agency of Piping equipment and Control Valves from Bellino s.r.l in Italy and it has conducted a seminar for technical and commercial personnel of National Iranian South Oil company, NISOC on May. 2nd, with more than 120 participants. The mentors were experts in the field of control valves, called Mr. Michelle Coniglio and Antonio Folcando. 

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Mehrgan PetroPars, and Iranian oil and gas company, lists Bellino as an official partner.

On 24th May 2016 Mr Marco Padovan will host the second edition on the “Training Day on Iran” organised by Banca Popolare di Sondrio.

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Banca Popolare di Ravenna lists the “Transfer of funds to and from Iran according to EU regulations 267/2012 e 1263/2012” as an available service for clients.  The bank lists a cost of €150 for "activation of notification procedures" and €500 for "activation of the authorization request procedure." (Company Website)

"Is restricting or stopping business with Iran." (Benoit Faucon and Sarah McFarlane, “King Dollar Tightens Noose on Iranian Economy,” The Wall Street Journal, June 25, 2018.)

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"Iranian private bank Sina has opened accounts in the Spanish Ares Bank and Italian Banca Popolare di Sondrio, the
bank’s website announced." (Financial Tribune, “Sina Bank Links Up With 2 European Peers,” 7/22/2017.)

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In May 2017 – “According a TCCIMA's news website, Banca Popolare di Sondrio has agreed on a Money Transfer Service with its Iranian peers at a 0.15% fee. This puts the bill for transferring every €1,000 at €1.5–good news for Iranian businesses and banks used to sky-high fees during the sanctions.”

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According to Iran’s central bank, BPSO has established ties with Iran.  Furthermore, “[a] source close to Popolare di Sondrio told Reuters that the bank had an Iran team and was operating in the country.”  (Reuters, “Small banks help Iran slowly restore foreign financial ties,” 6/15/2016).

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On February 9, 2011 Banca Popolare Di Sondrio organized an event with the Italian-Iranian Chamber of Commerce (CCII) to discuss rules, regulations, and opportunities surrounding trade between Italian companies and Iran.

Formerly known as Banca Popolare del-Emilia Romanga S.C.

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On the “List of Corresponding Banks for Transferring the Fees” for payment to the 10^th International Conference on Magnetic and Superconducting Materials (“MSM17”), which took place at the Sharif University of Technology, Tehran, Iran on September 18-21, 2017.  (Sharif University Website, “MSM17 [Corresponding Banks Fees];” “MSM17”).

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Despite hopes of a new dawn for Iran's economy after nuclear-related sanctions were lifted, major Western banks are reluctant to do business with the Islamic republic for fear of US retribution. President Hassan Rouhani has said that to reach the target of eight-percent growth needed to modernise the industrial sector and relaunch the hobbled economy, Iran needs up to $50 billion in foreign investment every year. But without the big foreign banks, that looks impossible. "For the moment, the little European banks have agreed to work with us," said Parviz Aghili, head of the private Middle East Bank in Tehran. They include banks from Italy, Austria, Switzerland, Germany and Belgium, he said without naming them. "But not a single medium-sized or big bank has so far agreed to do it," he added... The limited number of institutions that do deal with the Islamic republic include Raiffeisen Bank and Erste Bank from Austria, Mediobanca and Banco Popolare of Italy, Germany's EIH, KfW and AKA banks, Belgium's KBC, ING of the Netherlands and Turkey's Halk, according to a banking expert in Tehran. "These banks have established working relations with the Iranian banks to open letters of credit for fairly small sums of 10, 20 or 50 million dollars." But they lack the resources to finance big projects like the deal struck between Iran and European aircraft manufacturer Airbus for 118 airplanes, or oil and gas development projects, the expert said. (AFP, "Iran banking hobbled by Western reluctance to engage," 9/13/2016).

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Banca Popolare Dell'Emilia Romagna lists as a service to its clients the "Transfer of Funds to and from Iran in accordance with EU Regulation 961/2010."  The bank lists a cost of €50 for "activation of notification procedures" and €200 for "activation of the authorization request procedure." (Company Website)

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On March 12, 2011 Banca Popolare Dell'Emilia Romagna co-hosted an event to promote commerical activity and economic cooperation between Italian companies and Iran. 

Iranian oil and gas company Mehrgan PetroPars lists ATV S.p.A. as an official partner.

Listed as a participant at the previous Iran Oil Shows.

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Iranian energy company Mehrgan PetroPars lists AST S.r.l. as an official partner.

"May 6 - 9, 2017, Iran. Walter Tosto SpA participated to IranOil, one of the world's most important events dedicated to the Oil & Gas industry, in terms of number of participants and countries involved. Every year more than 1,800 exhibitors and about 400,000 visitors coming from over 40 countries participate at the exhibition in Iran." (May 2017)

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"Creating worry for businesses are the terms of the exemptions for contracts concluding before October 16.  'The deadline for final delivery was fixed at April 15, 2013,' explains Luca Tosto, Associate Director of his family business, Walter Tosto, with €100 million of turnover in the boiler, high tech equipment for oil and gas, petrochemical, energy, and pharmaceutical sectors.  'But maybe we understoood incorrectly: our production requires from 12-18 months and to think of having to deliver before April is impossible,' he explained." (Iran Italian Radio, "EU Sanctions Against Iran: European Companies Ask for Modifications," 11/03/12 -- Translated)

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Iranian oil company Mehrgan PetroPars lists Walter Tosto as an official partner.

"The Iranian market has been the focus of the company from the very start. Together with our sister company, also named TEEN International, and a vast network of partners around Europe, we are able to securely transport cargo to and from Iran." (Italian-Iranian Chamber of Commerce Profile)

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Teen Transport touts major shipping projects to and from Iran, including several in cooperation with the National Iranian Oil Company. (Company Website)

Mediobanca sent staff to visit Iran but never did finance business there, according to a person familiar with the matter. ( Max Colchester and Laurence Fletcher, “Iran Nuclear Deal Upheaval Shakes Up European Banks’ Outreach,” The Wall Street Journal,
May 9, 2018.) 

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"CBI deputy governor has reported on attraction of financial resources worth 7.2 billion dollars through three international banks. Deputy Governor of the Central Bank of Iran (CBI) for Foreign Exchange Affairs Gholamali Kamyab, while pointing to foreign exchange projects pursued by CBI in the field of Resistance Economy, said attraction of 10 billion dollars of external resources remained as one objective defined by the central bank in the area of Resistance Economy. 'Measures taken by CBI in this regard include extensive negotiations with some foreign banks like Export-Import Bank of China (China Eximbank), the Italian Mediobank as well as Danske Bank of Denmark,' noted the official." (Mehr News, "Iran Attracts $7.2bn Finance from 3 Foreign Banks," 1/8/2017).

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Mediobanca is listed on the Reserve Bank of India’s (“RBI”) names of international banks which have entered into a correspondent banking relationship with Iranian banks

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Despite hopes of a new dawn for Iran's economy after nuclear-related sanctions were lifted, major Western banks are reluctant to do business with the Islamic republic for fear of US retribution. President Hassan Rouhani has said that to reach the target of eight-percent growth needed to modernise the industrial sector and relaunch the hobbled economy, Iran needs up to $50 billion in foreign investment every year. But without the big foreign banks, that looks impossible. "For the moment, the little European banks have agreed to work with us," said Parviz Aghili, head of the private Middle East Bank in Tehran. They include banks from Italy, Austria, Switzerland, Germany and Belgium, he said without naming them. "But not a single medium-sized or big bank has so far agreed to do it," he added... The limited number of institutions that do deal with the Islamic republic include Raiffeisen Bank and Erste Bank from Austria, Mediobanca and Banco Popolare of Italy, Germany's EIH, KfW and AKA banks, Belgium's KBC, ING of the Netherlands and Turkey's Halk, according to a banking expert in Tehran. "These banks have established working relations with the Iranian banks to open letters of credit for fairly small sums of 10, 20 or 50 million dollars." But they lack the resources to finance big projects like the deal struck between Iran and European aircraft manufacturer Airbus for 118 airplanes, or oil and gas development projects, the expert said. (AFP, "Iran banking hobbled by Western reluctance to engage," 9/13/2016).

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“Italian investment bank Mediobanca wants to play a role in the privatization of Iranian state-owned companies and in foreign investments in the country’s oil, energy, automotive and financial industries, according to an internal memo confirmed by the bank.” (Bloomberg, “Daimler, Mediobanca Line Up to Profit From End of Iran Sanctions,” 1/18/2016).
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Mediobanca maintains a representative office in Tehran.  (Italian-Iranian Chamber of Commerce Profile)

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"Investment bank Mediobanca said in a statement that it, along with Italy's development ministry and export credit agency SACE, had signed a memorandum of understanding during the visit with Iran's economy ministry and its central bank. The aim of the agreement was 'to facilitate future economic and commercial relations between the two countries,' the statement said." (Reuters, "Italian Minister Visits Iran Seeking Better Ties," 8/4/15)

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"In Iran Mediobanca has executed in 1998 a Master Credit Agreement (MCA) with the major eight Iranian banks totalling USD 2 billion to finance Italian capital goods exports to Iran.  Up to 2004 over 30 commerical contracts were financed through such MCA for over $1,200 million." (Italian-Iranian Chamber of Commerce Profile)

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In 2012, Mediobanca's gross exposure included more than £36 million towards Iranian banks. (2012 Annual Report)