Spain

"Later in October, a second South Korean company, Daelim, announced that a consortium it heads had won a contract to build onshore processing facilities for Phase 12 of South Pars. The consortium includes three Iranian engineering and construction companies: Sazeh Consult, Kayson and Iran Industrial Networks Development Company. The value of the contract is close to US $2bn. The bulk of Phase-12 output is scheduled for a liquefied natural gas (LNG) plant, with a daily output of 3bn cu ft of gas and 120,000 barrels of gas condensates. The Daelim-led consortium was until this year headed by Dragados, but the Spanish company dropped out, apparently under political pressure. The Phase-12 liquefaction facilities will be at Bandar Tombak, around 40 km north-west of Assaluyeh, the port where gas from South Pars will also be processed for pipeline transmission." (EIU Country Report Select, "Economic Performance: South Korean Firm Signs Gas Deal with Iran," 11/10/2009)

Noted for conducting business in Iran. (Avi Jorisch, "Iran's dirty banking," 2010) 

"Top representatives of Bank Melli Iran, the country’s biggest bank, and Spain’s Aresbank met on Tuesday to prepare the ground for expanding ties in the near future." (Financial Tribune, "Bank Melli Iran Enhancing Ties with Spain's Aresbank," 2/28/2018).

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In January 2017, the Reserve Bank of India (“RBI”), based on information obtained from the Indian Embassy in Tehran, named Aresbank, S.A. (“Aresbank”) as one of a number of international banks with correspondent banking relationships with Iranian banks.  (RBI Website, “FAQs [Names of International banks which have entered into a correspondent banking relationship with Iranian banks],” 1/19/2017).  

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Aresbank is noted for conducting business with U.S. Banks and Iran. (Avi Jorisch,"Iran's Dirty Banking", 2010)

Compania Espanola de Petroleos SAU, or Cepsa, said in an IPO prospectus that it took the "final shipment" of Iranian crude in September. The Suezmax tanker Monte Udala loaded a cargo of around 1 million barrels of Iranian crude on Sept. 29, which it delivered to Cepsa’s Huelva refinery about three weeks later, according to tanker tracking data compiled by Bloomberg.

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Spanish refiners Cepsa and Repsol have been using Madrid-based Ares bank but Cepsa will stop imports from early July, sources familiar with the matter said, as later cargoes had not been agreed prior to the sanctions announcement. Cepsa previously said that it would load crude until November and hoped for a waiver. ("Spooked by Trump, Europe's Iranian oil purchases set to plummet," Reuters, 6/29/2018.)

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“Our trading activity (remains) business as usual ... We continue to strictly conform with European Union and international laws and regulations,” a Cepsa spokesman said." (6/6/2018).

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On January 3, 2017, the National Iranian Oil Company (“NIOC”) listed CESPA as one of the “designated 29 non-Iranian companies [ ] qualified to participate in its pending tender round for upstream projects.”  (Oil & Gas Journal Website, “NIOC qualifies 29 firms for tender round,” 1/3/2017). 

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On February 14, 2016, the Wall Street Journal reported that a tanker “will carry 1 million barrels of Iranian crude oil to the European Union for Spain’s Compania Espanola de Petroleos, or Cepsa.” (Wall Street Journal, “Iran Launches First Oil Shipments to Europe in Three Years,” 2/14/2016).

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On March 7, 2016, Bloomberg reported that 1 million barrels of crude oil from Iran arrived in Europe at a refinery owned by Cia. Espanola de Petroleos.” (Bloomberg, “Iran Oil Lands in Europe for First Time Since Sanctions End,” 3/7/2016).

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"Iran continues its quest for new crude buyers, especially in Europe, but its loyal customer base will continue to hinge on countries like India and China, whose demand for Iranian crude has observed a steady rise this year. Iran has found interest for its crude in some unusual places in the past few months as it continues it diversify its list of buyers. Earlier this month it agreed to sell 1 million barrels of crude oil to Hungary via Croatia as it seeks to widen its post-sanctions customer base, which now includes cargoes sold to oil major BP, France's Total, Greece's Hellenic Petroleum, Spain's Repsol and Cepsa, Russia's Lukoil, Poland's Grupa Lotos, Portugal's Petrogal and Italy's Saras and Iplom. Iran said it has held talks with Bosnia and Herzegovina this week as it hopes to expand its list of crude oil export destinations. However, its shipments to Asia remain the pillar of its export market." (Platts, "Analysis: Iran eyes new crude oil buyers, Asia remains linchpin," 11/1/2016).

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"Other oil companies in the Mediterranean including Spain's Cepsa and three other Italian oil firms, ERG, Iplom and Saras have planned to take their last cargoes from Iran in June, other market sources said." (Reuters, "Eni suspends Iran's debt payments in oil," 5/31/2012) 

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“Compañía Española de Petróleos, S.A. (CEPSA) leads an industrial group made up of over 11,000 people, whose core activity is the refining of crude oil and marketing of petroleum products.

The company additionally has a strong petrochemicals division that is tightly integrated with the refineries, and is also involved in other energy-related businesses, such as oil and gas exploration and production, natural gas operations and electric power generation and sales.

CEPSA has been in the market for almost 80 years. Thanks to its flexibility and ability to adapt, CEPSA has become one of the leading companies in its sector in Spain. Through the progressive internationalisation of its activities, it also has business interests in Algeria, Brazil, Canada, Colombia, Egypt, Panama, Peru and Portugal, and sells its products all over the world” (Company website, “CEPSA – Profile”).

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"Cepsa, the second-largest oil company in Spain (behind Repsol YPF) refines 121,900 barrels of crude oil daily, primarily in three refineries. Its oil exploration and production efforts are focused on Algeria, Colombia, Egypt, Peru, and Spain. It has proved reserves of 172.5 million barrels of oil equivalent. Cepsa's marketing network includes more than 1,800 gas stations in Spain and Portugal. It also produces a range of chemical products (including polyester precursors, phenol, plasticizers, and polypropylene) and has gas and power interests. Spain's TOTAL controls 49% of Cepsa and Abu Dhabi's IPIC, 47%%" (Hoovers, “Compañía Española de Petróleos, S.A.,” 2010).

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As of April 2010, Cepsa imports 25 thousand barrels of crude oil per day from Iran. (Reuters, “Iran’s Crude Oil Buyers in Europe, Asia,” April 18 2010.)

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“Spain helps Iran in the fields of shipbuilding, oil and gas, power production and fishing, and Iran supplies Spain with mainly oil and petrochemicals.”

“In 2001, Iran exported to Spain $837 million worth of crude oil and various types of petrochemical products, while importing from that country $278 million worth of machinery, power turbines, medicine and chemical products. Trade activities aside, Spain has become a large non-Iranian investor in Iran's fossil energy and petrochemical industries over the last few years. This has reflected particularly in the activities of three major Spanish oil and petrochemical companies in that country. Repsol has invested 2 billion euros (roughly $2 billion) in exploring and extracting Iran's natural gas. The latter has uplifted the status of Spain in the Iranian economy, a result of the Iranians' efforts to reduce their consumption of oil and to switch to natural gas both for economic and environmental reasons.  Another Spanish oil company, Cespa, has been involved in the development of Iran's Cheshmekosh oilfield, while negotiating for its participation in developing certain Iranian offshore oilfields in the Persian Gulf. In the wake of President Khatami's visit to Spain, Cespa and the Spanish government expressed hope to settle disagreements with the Iranian government on the latter during the presidential visit” (Asia Times, "Spain seeks a bigger share in Iran," November 23, 2002).

According to its Annual Report filed with the SEC: In 2019, the following activities are disclosed in response to Section 13(r) with respect to Santander UK and certain other affiliates of Santander (collectively, the Group). During the period covered by this report:

• Santander UK holds two savings accounts and one current account for two customers resident in the U.K. who are currently designated by the U.S. under the Specially Designated Global Terrorist (SDGT) sanctions program. Revenues and profits generated by Santander U.K. on these accounts in the three months ended March 31, 2019 were negligible relative to the overall profits of Santander.
• Santander UK held one savings account and one current account for another customer resident in the UK who is currently designated by the US under the SDGT sanctions program. The United Nations and European Union removed this customer from their equivalent sanctions lists in 2008. The customer relationship predated the designations of the customer under these sanctions. Santander UK determined to put a block on the accounts and the accounts were closed on January 14, 2019. Revenues and profits generated by Santander UK on these accounts in the three months ended March 31, 2019 were negligible relative to the overall profits of Santander.
• Santander UK holds two frozen current accounts for two U.K. nationals who are designated by the U.S. under the SDGT sanctions program. The accounts held by each customer have been frozen since their designation and have remained frozen through the three months ended March 31, 2019. The accounts are in arrears (£1,844.73 in debit combined) and are currently being managed by Santander UK Collections & Recoveries department. No revenues or profits were generated by Santander UK on these accounts during the three months ended March 31, 2019.

The Santander Group has undertaken significant steps to withdraw from the Iranian market such as closing its representative office in Iran and ceasing all banking activities therein, including correspondent relationships, deposit taking from Iranian entities and issuing export letters of credit, except for the legacy transactions described above. The Santander Group is not contractually permitted to cancel these arrangements without either (i) paying the guaranteed amount (in the case of the performance guarantees), or (ii) forfeiting the outstanding amounts due to it (in the case of the export credits). As such, the Santander Group intends to continue to provide the guarantees and hold these assets in accordance with company policy and applicable laws.

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SAMIH affiliate—Santander U.K. plc—held savings accounts for two SDNs during the year, even as it noted that SAMIH’s activity does not relate to any activity conducted by Laredo or Laredo’s affiliates. (SEC Disclosure)

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Santander is "the third largest bank in the world in terms of profits." In 2008, the Santander Group acquired the US-based Sovereign Bank. (Company Website)

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Banco Santander is also part of the Royal Bank of Scotland led consortium that owns ABN AMRO, which reportedly has done business with Iran. (ABN AMRO Company Website)

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"In July 2007, it was reported that Santander “was doing business with Teheran-based Sepah as recently as March [2007]… Trading with businesses that are blacklisted for alleged links to terrorism is a serious breach of US law and can have draconian consequences...Santander is thought to have opened accounts for Sepah in various European countries and in Teheran. Allegations have also been made that Santander had a banking relationship with another Iranian bank that the US is targeting for its alleged links to terrorists. Santander said: ‘Neither of these institutions has an open account with Santander.’ The Spanish bank appears to have ended its relationship with Sepah after March. No details are known about the nature of its contact with the other bank.

Santander said: ‘Banco Santander is confident that it complies with all relevant banking regulations in the territories in which it operates, and with international requirements placed on banks, including those concerning money-laundering and the financing of terrorism.’ Sepah, which is owned by the Iranian state, was placed on the US blacklist in January. At the time, Stuart Levey, under-secretary for terrorism and financial intelligence, said: ‘Sepah is the financial linchpin of Iran's missile procurement network and has actively assisted Iran's pursuit of missiles capable of carrying weapons of mass destruction.’" (The Daily Telegraph, "Santander Traded with Blacklist Iranian Bank," 7/23/07)

"Refiners including France’s Total, Italy’s Eni and Saras, Spain’s Repsol and Cepsa as well as Greece’s Hellenic Petroleum are preparing to halt purchases of Iranian oil once sanctions bite, the sources said." (6/6/2018).

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"Iran continues its quest for new crude buyers, especially in Europe, but its loyal customer base will continue to hinge on countries like India and China, whose demand for Iranian crude has observed a steady rise this year. Iran has found interest for its crude in some unusual places in the past few months as it continues it diversify its list of buyers. Earlier this month it agreed to sell 1 million barrels of crude oil to Hungary via Croatia as it seeks to widen its post-sanctions customer base, which now includes cargoes sold to oil major BP, France's Total, Greece's Hellenic Petroleum, Spain's Repsol and Cepsa, Russia's Lukoil, Poland's Grupa Lotos, Portugal's Petrogal and Italy's Saras and Iplom. Iran said it has held talks with Bosnia and Herzegovina this week as it hopes to expand its list of crude oil export destinations. However, its shipments to Asia remain the pillar of its export market." (Platts, "Analysis: Iran eyes new crude oil buyers, Asia remains linchpin," 11/1/2016).

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"The drop has been caused by several European companies, including Royal Dutch Shell and Spain's Repsol deciding to halt imports from Iran even before the sanctions took effect." (Reuters, "Eni suspends Iran's debt payments in oil," 5/31/2012)

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In 2011 Repsol was removed from Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran after it was determined to have past involvement.
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"Western companies, once eager to get in on Iranian energy development, have pulled back sharply amid Tehran's recent standoff with the West over its nuclear program. Repsol YPF SA and Royal Dutch Shell PLC had been in talks to enter the Persian LNG project as foreign investors. In June, Repsol dropped out of the discussions. At the time, Iran said it had contracted the gas development work to domestic companies." (Wall Street Journal, "Iran Curbs LNG-Export Ambitions" 8/12/2010)

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"Iran ended talks with Royal Dutch Shell Plc and Repsol YPF SA about developing two phases of its South Pars natural-gas field and will award the rights instead to an Iranian group, the state-run Mehr news agency reported. European energy companies including Shell and Repsol have postponed gas accords in Iran amid U.S. pressure over its nuclear program." (Business Week, 6/6/2010)

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"A spokesman for Repsol, an oil giant based in Spain, said that the company has a joint liquefied natural gas project with Shell in Iran that is in the early planning stages. But, as Western pressure has mounted, the project has not moved forward. The spokesman did not comment on the State Department's investigation into Repsol's possible violations of the Iran Sanctions Act."  From 2000-2009, the company was the recipient of $375.4 million US federal funds.  Their investments in Iran are currently on hold.  They have been listed as a potential violator of the Iran Sanctions Act.  (The New York Times, "Profiting from Iran, and the US," 3/6/2010)

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"Repsol holds the mineral rights to two exploration blocks: Merh and Forooz....These blocks have a total combined area of 14,638 km2...In 2004, Repsol and Shell signed an agreement with the (state) National Iranian Oil Company (NIOC), in order to develop the integrated LNG project designated 'Persian LNG'." (Company website, 7/13/09)

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"New York State Comptroller Thomas P. DiNapoli also announced Tuesday the $110 billion fund would freeze an additional $300 million in seven other companies...The decision comes after two years of reviewing these companies, the potential risk of the investments and, in some cases, humanitarian efforts in these countries. 'We don't expect our investments to benefit regimes that support genocide and terrorism,' said DiNapoli...The fund also plans to monitor and prohibit further investment in ENI (E), Repsol YPF (REP), Royal Dutch Shell PLC (RDSA), Total SA (TOT), ABB Ltd. (ABB), Alstom (ALO.FR) and Snam Rete Gas (SNMRY). Additionally, it plans to focus on other industries including telecommunications. (Wall Street Journal, "NY Comptroller To Divest $86.2M In State Pension Fund Investments," 6/30/09 and The Office of New York State Comptroller Thomas P. DiNapoli)

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"William Burns, U.S. Under Secretary of State for political affairs, pointed out that several big energy companies, including Total, Shell, ENI and Repsol, have scaled back their business in Iran over the past few years." (Reuters, "US to review if Statoil violates Iran sanctions law," 7/9/08)

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"Total, Shell and Repsol of Spain are hanging back from signing contracts, which the Iranians are desperate for them to sign, said Simon Henderson, an oil expert at the Washington Institute for Near East Policy." (Associated Press, "Iran looks to tap key oil field with homegrown crews," 5/11/08)

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"In January [2007], Shell and Spains Repsol signed a preliminary deal with Teheran jointly to develop two phases of South Pars. At the time, Shell said it might be a year away from knowing whether to proceed, a timescale that Shell chief executive Jeroen van de Veer repeated six months later." (The Daily Telegraph, "Shell delays decision on Iran project again," 12/29/07)

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Listed by U.S. Government as doing business in Iran. (U.S. Securities and Exchange Commission, List of Companies Doing Business With State Sponsors Of Terror, Removed from the internet in July of 2007)

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In June 2010, Repsol pulled out of a joint deal with Shell to develop phases 13 and 14 of the South Pars gas field (WSJ).