Bonab Steel Industry Complex

Risk Level:
99% May harm your business future; Persons or entities that engage in transactions with this entity will be exposed to sanctions or subject to an enforcement action;

Working with this entity means supporting Iranian Regime, Regime Terrorist Activities & development of WMD

Status:
Top Alert – Entity designated / sanctioned for terror, WMD and human rights violation

Info:
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Bonab Steel Industry Complex pursuant to E.O. 13871 for operating in the steel sector of Iran;

Bonab Steel Industry Complex is a subsidiary of Mahan Mines and Industries Development Company (PLC), according to their official website. Mahan Mines and Industries Development Company (PLC), as one of the major investment companies of Tourism Financial Group, has been established with the aim of investment in specialized plans and projects of the Industries and Mines domain in the country;

The Iranian metals sector is an important revenue source for the Iranian regime, generating wealth for its corrupt leaders and financing a range of nefarious activities, including the proliferation of weapons of mass destruction and their means of delivery, support for foreign terrorist groups, and a variety of human rights abuses, at home and abroad;

Action was taken pursuant to Executive Order (E.O.) 13871, which imposes sanctions on several sectors of the Iranian economy, including Iran’s steel sector, that continue to generate significant revenue for the Iranian regime;

(The long list of corrupt Iranian officials – Jan 7, 2021) – In November 2020, an agreement between the Tourism Finance Group headed by Mehdi Jahangiri and the Khatam al-Anbia headquarters affiliated with the Revolutionary Guards setting out 20 trillion tomans [$0.8 billion] for the development of Bonab Steel Complex;

(Strategic corruption in Iran – Feb 12, 2020) – By a counteract Kayhan daily revealed only a handful of activities of Jahangiri’s brother, Mehdi Jahangiri, who was arrested for corruption and wrote:

“Mehdi Jahangiri, head of tourism finance and vice president of the Tehran Chamber of Commerce, brother of the vice president, founder of Tourism Bank, director of the Iranian Cultural Heritage and Tourism Investment Company, which could establish six major satellite companies in a small-time.”

“Chairman of the Board of Directors of Bonab Steel Industry Complex, Member of the Board of Directors of Handball Federation, Chairman of the Board of Directors of Negin Tourism Company, Chairman of the Board of Directors of Mahan Industries and Mines Holding Company, etc.” (Kayhan, 6 October 2017);

Partners:
1. Tourism Finance Group headed by Mehdi Jahangiri
2. Khatam al-Anbia headquarters

Industry:
Steel Industry

Also Known As:
Mojtame Foulad Shahin Bonab
Shahin Bonab Steel Complex

Organization Established Date:
2005

Country:
Iran

Address:
No 17, Sarbalai Valiasr, Tavanir Bridge, Tabriz City, Iran
Bonab Industrial Zone, Bonab, East Azerbaijan, Iran
PO Box 51576-13533, Tabriz City, Iran

Phone:
0098-41-4122

Website:
www.mfbco.ir

E-mail:
info@mfbco.ir

National ID No.:
742 (Iran)

Person of interests:
Mr. Abbas Ebrahimi; Chairman of the Board
Mr. Nader Keshtkar; Member of the Board
Mr. Sadeg Jahed Khatibi; Member of the Board
Mr. Hosein Rahmati; Member of the Board

Reason for the color:
» Added to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on January 5, 2021 pursuant to Executive Order 13871 for operating in the steel sector of Iran;


You May Be Interested

IFMAT Color Guide

×
We sort entities who are connected with terrorist activities, in two sections, first by risk and second by geolocation.
GeoLocation divisions are divided into two fields, Black List and Gray List.
BlackList is a list of all companies, organizations and figures who originate from Iran.
GrayList is a list of all companies, organizations and figures out of Iranian borders, and doing business with Iran.
We identify risk of entities by COLOR selection, each color marks the risk level of the entity.(by declining order)
 
TOP ALERT
Designated / Sanctioned / Illicit entities
 
HIGH ALERT
Entities affiliated with Designated / Sanctioned / Illicit entities.
 
MEDIUM ALERT
Entities sanctioned in the past for Terror or Illicit activities / WMD related / Human rights violations.
 
RISK ALERT
Entities in a problematic sector - Sector controlled by the Top Alert entities.
 
GENERAL ALERT
Legitimate entities - we cannot determine whether an entity is completely green, and that is due to the facts that the Iranian economy is not transparent enough for us. Be sure.