2018: Sptuniknews on 26.05.2018 listed Commerzbank among other Germany companies that are still working in Iran despite U.S. sanctions;
2016: Commerzbank reviewed the possibility of returning to Iran in 2016 less than a year after agreeing to pay $1.45 billion to settle sanctions violations tied to the country;
2015: Commerzbank, stopped working with Iran completely after being slapped with harsh fines in 2015;
Commerzbank AG is a German banking and financial services company based in Frankfurt, Hesse, Germany. Commerzbank is Germany’s fourth-largest bank by total assets. The bank is present in more than 50 countries around the world, although primarily provides services in Germany and Poland. As of 2018, it provides almost a third of Germany’s trade finance and the German state is the largest shareholder with a 15% stake.
For more than a decade, Commerzbank was involved in laundering hundreds of US billions of dollars out of Iran, Sudan and Myanmar, against US sanctions. Commerzbank agreed to pay $US1.5 billion in fines and dismiss several employees.
While the bank joins a raft of European companies signalling they are prepared to re-enter Iran’s market, Commerzbank’s stance contrasts to that of other European banks, including Deutsche Bank and Standard Chartered, which have said they would continue to refrain from doing business connected to Iran;
February 26, 1870
Kaiserplatz, D – 60261 Frankfurt am Main, Germany
+49 69 136 20
Person of interests:
Martin Zielke (Chairman of the Board of Managing Directors);
Stefan Schmittmann (Chairman of the Supervisory Board)
Reason for the color:
» Sptuniknews on 26.05.2018 listed Commerzbank among other Germany companies that are still working in Iran despite U.S. sanctions;
» Commerzbank is reviewing the possibility of returning to Iran;
» Commerzbank – conspired with Iran and its proxies to provide material support for terrorism against U.S. armed forces during the Iraq War;