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Doosan Corporation

Industry
Conglomerate, Construction, Energy
Symbol
KS: 000150
Country
South Korea
website
Doosan
Sources

"The company was reported as potentially having exposure to Iran through a parent company, Doosan Corp. In a letter dated November 6, 2017 the company stated it is not engaged in any type of business activity targeted by the Act. CalPERS continues to monitor the company for possible changes in status relevant to the Act. CalPERS has determined to maintain the designation for 2020."

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"In 2014, Doosan Corp. was identified by CalSTRS service providers as being a supplier of automotive products to companies in Iran. In 2014, CalSTRS designated Doosan Corp. as “Under Review” for potentially having ties to Iran. In 2015, CalSTRS designated Doosan Corp. and related entities as “Divested and Restricted” after the company failed to respond to requests for information and maintained the “Divested and Restricted” status in 2019. In 2020, after a review of the company’s relationship to Iran, CalSTRS removed Doosan Corp. from the “Divested and Restricted” list after confirmation the company has curtailed its business with Iran. However, CalSTRS placed the company in a “Being Monitored” status while sanction compliance went through additional review."

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In 2014, Doosan Corp. was identified by CalSTRS service providers as being a supplier of automotive products to companies in Iran. Doosan Corp is listed on the December 31, 2018 CalSTRs Portfolio of companies identified as possibly having ties to Iran and from which CalSTRs has divested from and restricted in 2018. In 2014, CalSTRS designated Doosan Corp. as “Under Review” for potentially having ties to Iran. In 2015, CalSTRS designated Doosan Corp. and related entities as “Divested and Restricted”after the company failed to respond to requests for information and has maintained the “Divested and Restricted” designation in 2018.

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Doosan is listed on the CalPERS November 2018 Iran Divested/Restricted companies list.

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“We have tried to enter the Iranian market by, for example, signing an MOU with Iran’s National Water and Wastewater Engineering Company in April this year,” said Yoon Seok-won, head of the Water BG of Doosan, adding, “This SAKO Project signed at this time based on the recent summit talks between South Korean President Park Geun-hye and Iranian President Hassan Rouhani will be the starting point to increase our presence in the Iranian water market, which is estimated to grow to reach US$2 billion in 2018.” (April 1, 2016).

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In 2017, the U.S. state of California listed Doosan Corp. on its Iran scrutinized companies list rendering Doosan Corp. ineligible for investment and/or state contracting. -- "Doosan Heavy Industries has won a 220 billion won ($183 million) contract to build a desalinization plant in Iran, the first foreign company to do so since the United States and other Western nations lifted economic sanctions on the Middle Eastern nation early this year." (Korea Times, "Doosan Heavy wins desalinatization plant deal in Iran." 6/27/2016)

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"Iran and the Republic of Korea on Monday signed three agreements in the form of one memorandum of understanding (MOU) and two memorandums of agreement (MOA) during Iran-Korea Business Forum in Tehran… Another MOA was inked between the Korean Doosan Heavy Industry and Construction and the Iranian Negin Mokran Development Company (NMDC)." (Tehran Times, “Leader asks literati to care about current issues,” 6/21/2016)

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"Doosan Heavy Industries recently held a showcase in Iran to target the water conversion market with its affiliates overseas, including Doosan Skoda Power. 'Iran is a huge market that will help us break through the slumping economy and low international oil prices,' said Kim Heon-tak, a vice president of Doosan Heavy Industries. 'We will try to find an opportunity in the water conversion business with our industry-leading technology.'" (Korea Joongang Daily, “Korea courts big business in Iran,” 3/1/2016)

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Doosan Corporation is the parent company of the construction equipment brand Bobcat, which also does business in Iran. -- Doosan has a significant presence in Iran’s energy sector, having constructed at least nine power plants in Iran. (Doosan Heavy Industries Website. “Major Projects”).

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Doosan has won orders to supply more than 60 Heat Recovery Steam Generators (HRSGs) for Iran. (Doosan Website. “Doosan Wins Successive Orders for Power Generation Equipment from Iran, Vietnam,” 7/21/2009; Doosan Website. “Doosan Heavy Industries and Construction wins 74 million-euro power plant project in Iran,” 6/14/2009).

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Recently, Doosan has also worked directly with the Iran Oil Company, specifically on LPG Recovery for the Win-teco/Lavan Oil Refinery in Iran in 2007, and the SAZEH Ball Tank project for Win-teco/National Iran Oil Company in 2008 (Doosan Mecatec Website. “Major Accomplishments”). -- In total, all Doosan companies have received more than $100 million from the U.S. Government in federal contracts since 2000 (USASpending.gov).

Response

"…does not sell any of its products to Iran and has no intention of commencing such sales." (3/22/16).

British Airways

Industry
Airline
Country
UK
website
http://britishairways.com/
Sources

"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)

Afripipes

Industry
Telecommunications
Country
South Africa
website
http://www.afripipes.co.za/
Sources

"Anubhav Singh, the head of global sales and marketing at South African telecommunications-equipment maker Afripipes, said his company was halting its postdeal exploration of the Iranian market as a result of Mr. Trump’s election. “We’re waiting to see what Trump’s policies are with respect to Iran and then take it from there,” he said... Smaller companies, because of their size, can’t as easily absorb losses from ventures that have to be scrapped because of sanctions. In the past, U.S. sanctions have had a chilling effect on companies dealing with Iran because some of them apply on any company with American connections." (The Wall Street Journal, "Trump Victory Slows Business Investment in Iran," 1/18/2017).

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Afripipes has expressed interest in the Iranian market, noting that “Iran is a big market and there’s potential there….”  However, Afripipes’ head of global sales and marketing, Anubhav Singh, rightly sounded a cautious note in the wake of the election of President-elect Trump by adding, “we’re not sure how the sanctions are going to go….  We are being cautious and seeing how things pan out in the next five or six months.”  (Wall Street Journal, “Boeing Seals Nearly $17 Billion Iran Deal,” 12/11/2016). 

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Afripipes is listed as an exhibitor at the Iran Telecom Innovations Conference that took place from September 25-28, 2016, in Tehran, Iran. (Iran Telecom Innovations Exhibitor List, 2016).

General Electric (GE)

Industry
Electrical
Symbol
NYSE: GE
States
CT
Country
USA
website
http://www.ge.com/
Sources

"General Electric Co has received a license from the U.S. Treasury Department to help in the investigation of a Ukrainian passenger plane accidentally shot down by Iranian forces, a GE spokesman told Reuters on Tuesday. Treasury Secretary Steven Mnuchin said earlier this month that the department would grant sanction waivers to allow Americans or anyone else to participate in the investigation of the Jan. 8 crash of the Ukraine International Airlines Boeing 737 near Tehran that killed all 176 people onboard." (Reuters, "GE Granted License To Help Investigate Ukrainian Plane Downed By Iran," 1/21/2020).

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According to its February 2019 SEC disclosure, "These non-U.S. affiliates do not intend to continue the activities described above. The Company has ended all of these activities in full compliance with U.S. sanctions and at this time does not intend to seek specific U.S. Government authorization to collect revenues associated with previously reported projects." (SEC, "Form 10-K," 2/26/2019).

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"General Electric Co. is planning to end sales of oil and natural-gas equipment later this year in Iran, people familiar with the matter said, illustrating how U.S. withdrawal from the nuclear deal is shutting a narrow window of opportunity for some American businesses there." (5/31/2018).

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In 2017 the U.S. state of California listed GE as a company under review for potentially having entered into contracts for the sale of goods related to the development of petroleum resources.

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In 2017 the U.S. state of Michigan listed GE on its Iran restricted investment list rendering Iran ineligible for investment and/or state contracting. Response: "respect UANI's position but disagree with UANI about the business engagements that the JCPOA has made possible in Iran."

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Pursuant to this authorization, a non-U.S. affiliate of GE’s Oil & Gas business received five purchase orders during the third quarter of 2017 for the sale of goods pursuant to General License H that could potentially enhance Iran’s ability to develop petroleum resources. The purchase orders cover the sale of valves and parts for industrial machinery and equipment used in gas plants, petrochemical plants and gas production projects in Iran. A second non-U.S. affiliate of GE’s Oil & Gas business received two purchase orders during the third quarter of 2017 for the sale of consumable parts, instruments and a digital recording system to be applied to industrial machinery and equipment on gas plants.A non-U.S. affiliate of GE’s Power business received a cancellation to a purchase order previously reported for the sale of spare parts to an Iranian entity to provide electricity and steam to an area of Iran that includes certain oil refineries during the quarter ending September 30, 2017.A second non-US affiliate of GE’s Power business received three purchase orders pursuant to General License H valued at €0.1 million ($0.1 million), €0.1 million ($0.1 million) and €0.2 million ($0.2 million) during the third quarter of 2017. The purchase orders cover the sale of protection relays for oil refinery related projects in Iran.A third non-US affiliate of GE’s Power business received two purchase orders pursuant to General License H valued at €0.1 million ($0.1 million) and €0.1 million ($0.1 million) during the third quarter of 2017. The purchase orders cover the sale of spare parts for motors for ultimate end use by a petro-chemical company in Iran. -- In 2017 the U.S. state of California listed GE as a company under review for potentially having entered into contracts for the sale of goods related to the development of petroleum resources.

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"Iran says it has started talks with major American and Italian companies to form partnerships with some of its oldest brands of household devices in what appears to be a policy to prevent their demise. The announcement was made by Abbas Hashemi, the director general for household devices affairs of the Ministry of Industry, Mine, and Trade. Hashemi was quoted by the domestic media as saying that the companies with which talks to were underway on the same front were multinational conglomerate corporation General Electric (GE), the American multinational manufacturer and marketer of home appliances Whirlpool Corporation, and the Italian Ariston Thermo Group." (Press TV, "US, Italian Firms to Save Iran's Troubled Brands," 1/8/2017).

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"Iran is in talks with two American home appliances manufacturers General Electric (GE) and Whirlpool for joint venture, according to Abbas Hashemi, director general of home appliances and metal industries department of Iran's Ministry of Mine, Industry, and Trade. Addressing a press conference, Hashemi said Iran is seeking joint venture and cobranding deals with foreign companies where a minimum 30 percent of the products are exported to regional markets, Trend correspondent reported from the event January 3. In particular he said that the ministry is looking forward to have one or two brands produce split cooler units in Iran." (Trend News Agency, "Iran Seeking JV with American Giants GE, Whirlpool," 1/5/2017).

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According to its Quarterly Report filed with the SEC in 2016: "In January 2016, the U.S. Department of Treasury's Office of Foreign Assets Control (OFAC) issued General License H authorizing U.S.-owned or controlled foreign entities to engage in transactions with Iran if these entities meet the requirements of the general license. Pursuant to this authorization, a non-U.S. affiliate of GE's Power business received a purchase order during the third quarter of 2016 for the sale of spare parts to an Iranian entity to provide electricity and steam to an area of Iran that includes certain oil refineries. The total value of the purchase order is €16.2 million ($18.1 million). The non-U.S. affiliate is still in the process of finalizing this transaction. As of September 30, 2016, no revenue has been recognized and no expenses have been incurred in the execution of the transaction contemplated by the purchase order. The non-U.S. affiliate intends to continue this activity.
Another non-U.S. affiliate of GE's Oil & Gas business signed three contracts during the second quarter of 2016 and two contracts during the third quarter of 2016 for the sale of goods pursuant to General License H that could potentially enhance Iran's ability to develop petroleum resources. These contracts are valued at under $20 million in the aggregate, but GE is reporting them during this quarter in conjunction with the report above. The contracts cover the sale of gas turbine equipment and associated services for ultimate end use by an Iranian company in a gas production project in Iran. These contracts are valued at approximately €11.4 million ($12.8 million), €1.8 million ($2.0 million), €1.1 million ($1.3 million), €408,000 ($460,000) and €69,000 ($78,000). The non-U.S. affiliate has just started operational activities related to these transactions. As of September 30, 2016, no revenue has been recognized and no expenses have been incurred in the execution of the transactions contemplated by these contracts. The non-U.S. affiliate intends to continue this activity."

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GE Power is listed as an attendee at the Iranian Base Metals Conference that took place from September 6-7, 2016 in Tehran, Iran. (Iranian Base Metals Conference Attendees, 2016).

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"The chief executive of General Electric Co.’s oil-and-gas business has visited Tehran to explore business opportunities there, the company said, the first known visit by an energy executive of an American company since before Western sanctions were imposed on Iran over its nuclear program. Lorenzo Simonelli, CEO of GE Oil & Gas, visited Iran in recent days and departed on Monday as the company takes another look at the country now that nuclear-related sanctions have ended, a GE spokeswoman said. 'In line with the easing of sanctions, we have begun looking at potential business opportunities in Iran, while fully complying with the rules laid out by the U.S. government,' the spokeswoman said. 'Mr. Simonelli’s visit…was part of our efforts to that end.' ... GE Oil & Gas, based in London, is a subsidiary of its American parent company... GE manufactures oil-drilling and processing equipment, including subsea pumps and pipeline-service units. Mr. Simonelli’s visit included a meeting with a top Iranian oil official, according to a person familiar with the matter. The company wants to sell spare parts, compressors and turbines from its unit Nuovo Pignone, which is based in Florence, Italy, according to a person familiar with the matter... GE Oil & Gas has had a team of 50 in Dubai and Florence preparing to work in Iran for months, examining every detail to ensure compliance with U.S. sanctions, a person familiar with the matter said. That includes insulating any potential Iran business from its U.S. parent and avoiding any use of U.S. technology... Other American companies have shown interest in Iran, but it isn’t clear whether they have sent delegations to the country. Chevron Corp. last year sent officials to an Iran-focused conference in Vienna." (The Wall Street Journal, “GE’s Oil and Gas Chief Explores Opportunities in Iran,” 2/15/2016)

Response

"Consistent with our policy, we will wind down any activity under any such authorization."  (5/21/2018)

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Response: "We continue to respect UANI’s position but also respectfully continue to disagree with UANI about the business engagements that the JCPOA and the modified sanctions regime have made possible in Iran." November 14, 2016

Nippon Steel Corp

Industry
Steel
Symbol
TYO: 5401
Country
Japan
website
NSC
Sources

According to its Annual Report filed with the SEC for fiscal year 2019: "During the fiscal year ended March 31, 2019, export sales to Iran accounted for ¥1,954 million, or 0.03% of NSC’s total consolidated revenues for the fiscal year ended March 31, 2019. NSC sold steel pipes, tin plate, and steel plate to Iran for civilian use. We cannot exactly calculate the net profits associated with these transactions.

NSC conducted the above transactions in accordance with applicable law, and NSC believes that the above transaction does not subject to U.S. sanctions. Upon the reinstatement of sanctions by the United States in November 2018, NSC ceased these operations, and NSC does not currently intend to resume these transactions so long as sanctions imposed on Iran by the United States are in place."

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Nippon Steel & Sumitomo Metal is now known as Nippon Steel Corp.

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Nippon Steel & Sumitomo Metal Corporation is listed as an attendee for the 2016 2nd Iranian Iron & Steel Conference taking place from September 26-28 in Isfahan, Iran. The event overview states: "There is much to discuss, with sanctions being removed, new projects and investment opportunities planned across Iran and an in-depth look at the central Asian region steel industry" (2nd Iranian Iron & Steel Conference, 2016). 

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"More than 300 companies worldwide, including triple as many from Japan as last year, have gathered here for Iran's biggest trade fair, seeking opportunities for growth in this vast Middle Eastern market poised for relief from Western economic sanctions. Among the 18 Japanese companies exhibiting at this year's event is Nippon Steel & Sumitomo Metal, whose wares include seamless pipe for the oil and gas industry. NEC, which did business with the Iranian telecom sector before the sanctions, had network equipment and other technology on display. Both companies aim to rekindle business in Iran. Others, like Fuji Manufacturing, are hopeful newcomers." (Nikkei Asian Review, “Japan Inc. eager to get back to business in Iran,” 10/7/2015)

Wintershall Dea

Industry
Energy
Country
Germany
website
http://www.wintershall.com/en.html
Sources

On May 1, 2019, Winterhsall merged with DEA to form Wintershall Dea. BASF holds 67% of the shares in the joint venture. 

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Reuters lists Wintershall among companies that "signed contracts with Iran for oil and gas exploration, development and production, but froze their activities due to the sanctions...BASF’s Wintershall [RIC:RIC:RWEDE.UL] oil and gas exploration arm signed an MoU with the NIOC in April 2016 for investment in Iranian energy projects, but the deal was put on hold due to uncertainties over the economic sanctions."

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May not be able to funding for Iranian oil projects because of its parent company, BASF AG, a chemical company with major operations in the United States. (Benoit Faucon, "European Firms Start Pulling Back From Iran," The Wall Street Journal, May 16, 2018.)

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"BASF’s Wintershall oil and gas exploration subsidiary has signed a memorandum of understanding (MOU) with the National Iranian Oil Company (NIOC), it said on Tuesday, confirming a media report." (April 12, 2016)

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"Germany’s biggest oil and gas company Wintershall says it is looking into a plan to collaborate with Russia’s energy giant Gazprom over projects in Iran. (June 23, 2017).  

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Germany's energy major, Wintershall, has submitted its proposal for developing Iran's Dehloran Oilfield to National Iranian Oil Company (NIOC), which is now studying the plan. NIOC held a committee meeting of its advisors in reservoir management to consider the proposal on Monday, January 29, 2018. NIOC has said the German company plans to materialize Iran's production goals from the field in a sustainable manner." (January 29, 2018)

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"Wintershall, Germany’s largest oil and gas company is looking to invest in Iran as the country opens up for foreign investment following decades of sanctions over its controversial nuclear enrichment programme. Mario Mehren, chairman of Wintershall said they signed a memorandum of understanding with Iran in April this year to look into certain assets but they are yet to bid for any project. “Iran is very interesting for us. There is a lot of onshore oil. We have not seen yet the commercial framework related to petroleum contracts,” said Mehren addressing a press conference during Adipec." (Gulf News, "German oil company Wintershall plans to invest in Iran," 11/8/2016).

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"Wintershall is Germany's largest internationally active crude oil and natural gas producer." The company is a wholly-owned subsidiary of the German chemical group BASF. (Wintershall Website, "Company," accessed 12/9/15)

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"'Termination of sanctions will turn the world's attention to Iran,' Uwe Salge, Germany's Wintershall's new Middle East general manager, said. Underscoring the fact that the world is in dire need of natural gas as a clean source of energy, he said Iran can play a key role in supplying the much-needed energy as it holds an estimated 34 trillion cubic meters of gas, the world's largest proven reserves." (Financial Tribune, "Foreign Investors Awaiting Sanctions Removal," 12/5/15)     

Response

Response: "BASF currently examines if and to what extent the U.S. re-imposition of sanctions affects BASF's busines in the region." (May 18, 2018); “Despite the website citation you mention in your letter, BASF has no current commercial relations with Intra Chem GmbH.” (12/18/2018) 

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“…Wintershall Holding GmbH is adhering to all applicable legal requirements and we assure you that the BASF Group has always explored business opportunities in a very prudent way, considering not only the legal risks and chances but also obligations stemming from our Code of Conduct…” (January 30, 2017)

BayWa

Industry
Agriculture, Trading
Value of USG Contracts
6
Value of USG Contract Source
https://www.fpds.gov/ezsearch/fpdsportal?s=FPDSNG.COM&sortBy=OBLIGATED_AMOUNT&q=%20GLOBAL_DUNS_NUMBER%3A%22315599340%22%20SIGNED_DATE%3A[2000/01/01%2C%29&indexName=awardfull&templateName=1.4.4&desc=Y
Symbol
GR: BYWG
Country
Germany
website
BayWa
Sources

"Bayway's chairman stated that the grain business with Iran is being stopped as the volume was not significant enough for Baway." (8/9/18)

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In June 2017 – “BayWa Company in Iran since sanctions era - Chairman of the German company BayWa said here on Monday that the company entered Iranian market during the imposed sanctions.”

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"Iran is about to open for business, and the world's grain traders are lining up. Food wasn't subject to sanctions, but the rules created enough difficulty to keep out many grain suppliers. Now, with world powers expected to lift restrictions as early as next year, new companies are entering the market. One example: BayWa AG, a German firm that recently shipped Russian grain and South American soybean meal to Iran... BayWa sent an executive to Tehran a week ago as part of a German trade delegation of 100. The Munich-based company plans to ship 250,000 metric tons of grains and oilseeds to the country this quarter." (Bloomberg News, "Grain Traders Eye Business in Iran as Sanctions Set to Ease," 11/9/15) 

Legrand

Industry
Electronics
Symbol
EPA: LR
States
CT
Country
France
website
www.legrand.com
Sources

The LEGRAND logo appears on the website of the Iranian IT security and surveillance firm, Hoortash Ryan Aflak (“Hoortash” a.k.a. “Hortash”).

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Listed as an approved vendor in Iran by NIOEC, NPC, POGC, NIGCENG, NISOC, SADAF, NIGC and IOOC. -- has a website for its Iran Products. 

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The Iranian oil, gas, petrochemical and energy firm, Nirou Taban Spadana Company (“Nirou Taban) claims to have a relationship with Legrand. 

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Listed as a French member of the Franco-Iranian Chamber of Commerce and Industry

Response

"The company has, moreover, voluntarily elected to cease all business operations in Iran, including shuttering operations at its subsidiaryin Iran, Alborz Electrical Industries."  (10/4/2019)

FAW Group

Industry
Automotive
Symbol
CH: 000800
Country
China
website
www.faw.com/
Contact Information

wanghuabing_iec@faw.com.cn

Sources

FAW participated in the 16th International Exhibition of Transportation Urban Services & Related Industries (“ITUF”), which took place at the Tehran International Permanent Fairground from January 2-5, 2019. (ITUF 2019, “Exhibition Profile”).

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FAW itself maintains an Iranian webpage, which lists the Bahman Group, Bahman Motor, and Siba Motors as partners.

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"This is the second local deal for FAW with Bahman which produced the larger Besturn B50F model with the company." (April 2017)

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FAW maintains a presence in the Iranian market through its relationship with the Bahman Group and Bahman Group subsidiaries.  Bahman Diesel, a subsidiary of the Bahman Group, displays images of FAW trucks on its webpage.  (Bahman Leasing Website, “Homepage”).  

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Similarly, Siba Motors, another subsidiary of the Bahman Group, states, “Siba Motor is currently the exclusive agent of FAW which is the first and greatest Chinese automobile producer.”  (Bahman website, “Siba Motor”).

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FAW itself maintains an Iranian webpage, which lists the Bahman Group, Bahman Motor, and Siba Motors as partners.  (FAW in Iran Website, “Iranian Partners.”). 

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Faw is listed as a participating company at the 14th International Exhibition of Transportation & Urban Services & Related Industries which takes place October 27-30th, 2016 in Tehran Iran. (Participating International Companies)  

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"The Second Iranian Auto Industry International Conference 2014, held in Tehran on December 1, was attended by representatives of over 30 countries' automobile and auto spare parts production companies and ambassadors of 17 states to Iran... Some of the foreign managers, experts and officials present at the confab included... Deputy of FAW Group Lee Baoquan..." (Mehr News, "Pakistan Resumes Crude Oil Import from Iran," 12/10/14)

Response

“…we confirm there is no business relationship with any and all Iranian entities, including any Iranian company…” (4/8/2020)

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