Iranian-Venezuelan Bi-National Bank

Also Known As: 

The Iranian Venezuelan Bi-National Bank
The Iranian Venezuelan Bi-National Bank (IVBB)
IVBB
Joint Iran-Venezuela Bank

Weapon Program: 

  • Military

Address: 

Tosee Building Ground Floor, Bokharest Street 44-46, Tehran, Iran

Phone: 

+98 21 88707011, +98-2188709022

Fax: 

+98 21 88707013

E-Mail: 

majidsoltanifard@gmail.com

Entity Web Site: 

www.ivbb.ir

Has been involved in Iran's proliferation-sensitive activities and processed funds transfers on behalf of sanctioned Iranian banks.

Established as a joint venture between the Banco Industrial de Venezuela and the Export Development Bank of Iran (EDBI); has processed funds transfers on behalf of the EDBI; was used as a proxy by EDBI to fund export activities and to receive transfers of millions of dollars from China's Bank of Kunlun, which has been sanctioned by the Treasury Department for facilitating transactions on behalf of sanctioned Iranian banks linked to proliferation; received a delegation from Bank of Kunlun in April 2016 to "boost bilateral relations," including foreign exchange operations; promotes its investment and financial services in South America as a means of furthering "the foreign political programs" of Iran.

Majority Iranian shareholder is Export Development Co; other Iranian shareholders include Gostaresh Tejarat Borna Co., Bisotoun Energy and Service Development Co., Arman IT Management and Development Co., Tose'e Tejarat Nafis Tadbir Arman Co., Brokery Company of Export Development Co., Tamin Sarmayeh Arman Co., and Export Development Bureau de Exchange Co.; majority Venezuelan shareholder is SUVINCA Co. (Suministros Venezolanos Industrialies C.A.); members of the Board of Directors include Davood Banaei, Felix Alberto Moreno, Adel Ghobadi-Zadeh, Ehtesham Fallahfar, and Morteza Zekavat; Central Bank of Iran license number is H/737; registration number is 365732; Tehran ID number is 10320162713; SWIFT code is IVBBIRT1.

Sanctions

As part of the re-imposition of U.S. sanctions on Iran, added on November 5, 2018 to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), freezing its assets under U.S. jurisdiction and prohibiting transactions with U.S. parties, pursuant to Executive Order 13224, which targets terrorists and those providing support to terrorists or acts of terrorism; foreign parties facilitating transactions for the entity or otherwise assisting the entity are subject to U.S. sanctions; also designated pursuant to Executive Order 13599 and subject to the Iranian Financial Sanctions Regulations; foreign financial institutions facilitating transactions for the entity may be prohibited from opening or maintaining correspondent or payable-through accounts in the United States.

Previously added to the SDN list on May 9, 2003, pursuant to Executive Order 13382, which targets proliferators of weapons of mass destruction (WMD) and their delivery systems; removed from the SDN list in January 2016 as part of the Joint Comprehensive Plan of Action, but identified as a part of the Government of Iran, prohibiting transactions with U.S. parties.

Mentioned Suspect Entities & Suppliers: 

Date Entered: 

July 24, 2013

Date Last Modified: 

December 10, 2018