According to the official website of Foolad Paya Engineering, their shareholders are entities controlled by the Iran Regime and they are designated by the U.S. Treasury Department.
Shareholders:
1. Ascotec – Iran and Germany – 49%
– The Ascotec [established in 1990] is owned by the Iranian regime and is subordinate to the Iranian Ministry of Industries and Mines (IMIDRO). Ascotec it is 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;
2. IRITEC – 17%
– Entity owned by the Iran Regime;
Income from Foolad Paya Engineering, Iran Regime uses to sponsor terrorist organizations, terrorist attacks around the world, develop nuclear weapon of mass destruction and build weapons to threaten to destroy other countries. Working with this entity is risky for your business.
Shareholders of Foolad Paya
Shareholders of Foolad Paya translated in English