Info:
Reyco was a German subsidiary of Rey Investment Company, although there were no public ties between Reyco and Rey Investment Company, TEACO, or the Iranian Government;
Reyco owned MCS Engineering and MCS International;
Reyco had the appearance of being a purely German company to circumvent sanctions restricting an Iranian Government-controlled entity’s ability to do business in Europe;
Reyco was eventually transferred to the control of TEACO from Rey Investment Company, and TEACO planned to use Reyco to purchase a bank for Iran in Germany;
Also Known As:
Reyco Gmbh Germany
Country:
Germany
Address:
Karlstrasse 19, Dinslaken, Nordrhein-Westfalen 46535, Germany
Reason for the color:
» 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;
» Added to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) in June, 2013 for being a purely German company to circumvent sanctions restricting an Iranian Government-controlled entity’s ability to do business in Europe;
» 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;
» German companies enable Iran’s nuclear program and infrastructure;