Iranian Military-Owned Conglomerate Sets Up Shop in Venezuela

July 5, 2020

Author: 

Ian Talley and Benoit Faucon

Publication: 

The Wall Street Journal

Related Country: 

  • Venezuela

Etka, an Iranian company subordinate to the Iranian Ministry of Defense and Armed Forces (MODAFL) and tied to the Islamic Revolutionary Guard Corps (IRGC) has established a retail supermarket in Venezuela. Etka is supporting a military-run emergency food program that Colombia, Mexico, and the United States have described as a front for money laundering. Etka's chief executive, Issa Rezaie, has held positions at several IRGC-owned companies. Ekta was originally set up as a social security trust for Iranian military veterans.