Naftiran Intertrade Company

Also Known As: 

Naftiran Intertrade Company
AKA: Naftiran Trade Company (NICO)
Naft Iran Intertrade Company Ltd.
Naftiran Intertrade Co. (NICO) Limited
NICO
Naftiran Intertrade Co Ltd

 

Address: 

5th Floor, Petro Pars Building, No 35 Farhang Boulevard, Saadat Abad Avenue, Tehran, Iran
5th Floor, Petropars Building, No. 35 Farhang Boulevard, Snadat Abad Avenue, Tehran, Iran
No. 35, Farhang Blvd (Erfan St Corner), Saadat Abad, Tehran, Iran
Level 5(I), Main Office Tower, Financial Park Complex, Jalan Merdeka, 87000 Federal Territory of Labuan, Malaysia
Suite 17, Burlington House, St. Saviours Road, St. Helier, Jersey, United Kingdom

 

Phone: 

+98 21 22372486, +98 21 22374681, +98 21 22374678

Fax: 

+98 21 22374678, +98 21 22372481

E-Mail: 

info@naftiran.com

A wholly-owned subsidiary of National Iranian Oil Company (NIOC) involved in oil trading.

Used First Islamic Investment Bank (FIIB) and Sorinet Commercial Trust Bankers (SCT Bankers) to facilitate transactions worth tens of millions of dollars with Iran Marine Industrial Company (SADRA); directed the Central Bank of Iran (CBI) to transfer the equivalent of 300 million euros to SCT Bankers; sold tens of millions of barrels of Iranian crude oil to International Safe Oil (ISO).

Serves as the oil trading arm and a source of funds and foreign exchange for NIOC; reportedly acquires the majority of Iran's petroleum imports; owns a stake in Madras Fertilizers Ltd, a joint venture with the Government of India; has a 50-50 joint partnership with British Petroleum in the North Sea Rhum project through a subsidiary, Iranian Oil Company UK; reportedly owns shares in a fuel distribution project in Senegal with Royal Dutch Shell.

Subsidiaries include Naftiran Intertrade Company Srl, Petroiran Development Company (PEDCO) Ltd, and Petropars Ltd.

Managing director is reportedly Mohsen Paknejad; other company officials include Mohammad Hassan Ghodsi (General Manager of Overseas Participation and Investments), Mohammad Ali Ahmadi, and Ahmad Azmoodeh.

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 13599, which targets entities controlled by the Government of Iran and Iranian financial institutions; foreign parties facilitating transactions for the entity or otherwise assisting the entity are subject to U.S. sanctions.

Previously added to the SDN list on April 11, 2013, pursuant to Executive Order 13382, which targets proliferators of weapons of mass destruction 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.

Listed by the European Union on October 16, 2012 as an entity linked to Iran's nuclear or ballistic missile activities; removed from the E.U. list in January 2016 as part of the Joint Comprehensive Plan of Action.

Formerly designated by the Canadian government as an entity contributing to Iran's proliferation-sensitive nuclear activities or to its development of chemical, biological or nuclear weapons or their delivery systems.

Mentioned Suspect Entities & Suppliers: 

Date Entered: 

July 20, 2013

Date Last Modified: 

December 10, 2018