The Volks Bank in Düsseldorf, Germany, is under close scrutiny by Germany’s Financial Supervisory Authority due to its questionable transactions with GIC International, a company linked to Tehran-based Ghadir. Ghadir is affiliated with the Iranian regime and is on the U.S. sanctions list.
GIC International, currently owned by an Iranian-German executive, is under investigation for allegedly circumventing sanctions and engaging in suspicious trade with subsidiaries in Turkey, Dubai, and China.
According to reports, GIC International uses a network to export urea from Iran and purchase properties abroad.
Documents reveal that MAPNA, a key industrial company of the Iranian regime, has a small office in Düsseldorf in an unmarked building, with Abbas Aliabadi, Iran’s former Minister of Economy and a member of the IRGC, listed on its mailbox.
Aliabadi, who served as Iran’s Minister of Economy from 2023 to 2024, had led the company for years. Although he left his Düsseldorf position after his ministerial appointment, he remains connected to the company’s activities.
The company is part of the Tehran-based MAPNA Group, a major pillar of Iran’s economy, controlled directly by Astan Quds Razavi and the Supreme Leader of Iran.
This company reportedly plays a significant role in evading sanctions against the Iranian regime, working with networks in Turkey, Dubai, and China. It is also listed by the UK government as involved in the production or supply of weapons of mass destruction.
The regime bypasses sanctions through a network of covert companies in Germany, particularly in Düsseldorf and Hamburg.
Documents indicate that MAPNA uses various bank accounts for its transactions, leading to intensified monitoring of its economic activities.
These developments have raised serious concerns about Iran’s economic activities in Europe and its attempts to evade international sanctions. European authorities face mounting pressure to enhance oversight and prevent the operations of suspicious networks.
