Business Risk

The EU-funded Europe-Iran Forum (EIF), which finally took place last month, was mired in controversy well before it began. Just days before its original due-date last December, Iran executed a high-profile dissident journalist, Ruhollah Zam. This didn’t look good for the European attendees. The EU’s own Foreign Affairs Chief Josep Borrell, the headline act, slunk out with his tail between his legs.

This week, the EU’s “Iran Task Force” confirmed to UANI that the Europe-Iran Forum (EIF) was being funded by the EU.

We were surprised to learn this.

Was this not the same conference from which EU Foreign Affairs head Josep Borrell had withdrawn, due to moral outrage at Iran’s execution of journalist Ruhollah Zam?

The Europe-Iran Business Forum (EIBF) was abruptly cancelled last week in the wake of international outcry over the regime’s execution of Iranian dissident journalist Ruhollah Zam. Event organizers ham-handedly postponed—and then later cancelled—the annual event only after European ambassadors pulled out.

Yesterday, the organizers of the Europe-Iran Business Forum scrapped their annual conference with 24 hours notice.

No explanation was provided, and none was needed.

Once Iran decided to go ahead with the execution of dissident journalist Ruhollah Zam the day before, the cancelations flooded in.

Over the past 12 months, UANI has unearthed dozens of cases of foreign tankers in illegal clandestine operations, designed to help Iran skirt oil sanctions.

These findings have been presented to the world’s “flag registries,” which grant the licenses required for any large vessel to make international voyages.

The flag registries have stepped up.

They have launched investigations, conducted hearings, published new banned vessel lists for information sharing, and de-flagged vessels altogether.

Last week, the U.S. sanctioned Iran’s remaining 18 banks from the SWIFT financial messaging network in a move designed to cover the entirety of the financial sector. While the focus on banks is welcome, a broad designation will also degrade more under-the-radar and innovative sanction-busting schemes, which are continuing to finance Ayatollah Khamenei’s terror apparatus.

Back In May 2018, Secretary of State Pompeo asserted, “the U.S. will impose the toughest and most comprehensive sanctions in history, including not only primary sanctions on Iran but also secondary sanctions on anyone who continues to do business with the country.” 

Germany was again Europe’s largest trading partner with Iran by far, exporting $1.64 billion worth of goods in 2019. While German banks have been largely reluctant to finance Iran trade, there are at least five banks – all owned/operated by Iran and all operating inside Germany – that are more than happy to step in.

On October 18, 2020 the international arms embargo imposed on Iran under Annex B of U.N. Security Council Resolution (UNSCR) 2231, the resolution which formally endorsed the Iran nuclear deal, will expire. Although Iran has frequently violated the terms of the ban with impunity, allowing the ban to lapse would be a significant victory for Iran and setback for regional security.

The Europe-Iran Forum, until recently the world’s leading Iran business conference, is on its last legs.