A Düsseldorf-based company, GIC International GmbH, is now under investigation amid suspicions that it may be conducting business on behalf of an Iranian holding company, Ghadir Investment, that has long been sanctioned by the United States. Internal documents, obtained by WDR and SZ, have raised concerns about potential ties to Iranian state security organs, specifically the Revolutionary Guard, and suggest a possible violation of international sanctions.
GIC International, situated in the International Business Center near the A52 motorway exit, has been linked to Ghadir Investment, which is reportedly involved in over 100 companies in Iran across various sectors, including oil, chemicals, and construction. The Ghadir Investment Company has been a subject of U.S. sanctions for years, with alleged connections to Iranian state security organs.
The leaked documents, provided to the opposition movement “People’s Mojahedin Organization of Iran (PMOI/MEK),” imply that GIC International may be part of a network of companies established by Iranian government agencies to continue international trade and real estate transactions despite sanctions. The authenticity of these internal documents, including communications between GIC International’s managing director and Ghadir Holding’s management in Iran, has been verified by WDR and SZ.
According to the leaked papers, GIC International is accused of setting up an “export network for urea” from Iran, a substance crucial for cleaning the exhaust gases of diesel cars. The documents suggest success in Tehran and claim that funds were returned through trusted banking channels.
Despite these allegations, GIC International denied such transactions in 2023, stating that the assumption is “wrong and unfounded.” However, recent findings indicate that the company might have faced scrutiny after a change in management within the Ghadir Group in 2021.
The Düsseldorf company allegedly admitted its connection to Ghadir Investment during a meeting in October 2022. Subsequently, a new company was purportedly established to continue processing payment transactions to Iran, specifically to circumvent German supervisory authorities who had discovered the connection.
The Ghadir Investment Company, including its branches like GIC International, has been in the focus of U.S. authorities since 2013. The U.S. government claims that Ghadir Investment has generated funds for Iranian security apparatus, particularly the Social Security Organization of the Iranian Armed Forces (SATA).
While there is no concrete evidence of crimes, German security circles have reportedly been aware of GIC International’s activities, hinting at potential sanctions violations. The company maintains that it operates as an international trading entity, abiding by German and EU regulations, and denies any connection to government organizations.
Concerns persist among Western security authorities about complex networks associated with Iran, aimed at procuring military-grade material and financing military projects. These networks often involve front companies and middlemen, exploiting the West’s policy in dealing with Iran.
The alleged internal letter from Düsseldorf to Tehran further suggests the registration of new companies abroad, facilitated by GIC International, to procure sensitive material and process payments in countries such as Oman, Armenia, the United Arab Emirates, and China.
As discussions about dissolving GIC International arose in late 2022, purportedly due to increased difficulties with banking transactions and growing distrust, a Tehran meeting reportedly decided against it to avoid attracting attention. Instead, focus shifted to other newly founded companies.
The opposition movement’s spokesman, Javad Dabiran, advocates for classifying the Iranian Revolutionary Guard as a terrorist organization in the European Union and imposing further sanctions on its economic sectors.
The situation remains complex, with conflicting statements and ongoing investigations. As the international community closely watches, questions surrounding GIC International’s alleged connections and activities persist, adding to the geopolitical tension in the region.
