MALTESE FIRM REQUESTS GUIDANCE ON BUSINESS

C O N F I D E N T I A L SECTION 01 OF 03 VALLETTA 000211

NOFORN
SIPDIS

DEPARTMENT FOR EUR/WE, TREASURY FOR CHRISTINE CLARK

E.O. 12958: DECL: 05/20/2018
TAGS: KTFN PTER EFIN PARM PGOV ETRD MT
SUBJECT: MALTESE FIRM REQUESTS GUIDANCE ON BUSINESS
DEALINGS WITH IRAN

REF: A. VALLETTA 89

B. VALLETTA 132

C. VALLETTA 190

Classified By: DCM Jason Davis for reasons 1.4 (b) and (d)

This is an Action Request -- See Para 5.


1. (C) As reported reftels, Malta's Financial Services
Authority (MFSA) has been quick to recognize the risks that
financial transactions with Iranian banks pose to Malta's
reputation. In that context, MFSA Director General Andre
Camilleri contacted post regarding a Maltese businessman,
Mark Camilleri (no relation),who was interested in
concluding a business deal with a private Iranian holding
company. The MFSA DG indicated that he had asked the Maltese
businessman to brief the Embassy on his pending business deal
as part of his due diligence.


2. (C) The Maltese businessman, Mark Camilleri, told Conoff
in late May that he was a partner in the Valletta-based law
firm Camilleri, Delia, Randon and Associates, and that
neither he nor his firm wished to engage in any activity that
would subject them to "repercussions" from the USG or GoM.
The "private Iranian entity" with which he intended to do
business was the Iranian Investment Company (IIC),which he
described as a large, privately held holding company with
over 100 Iranian and other firms among its holdings (complete
list at para 6).


3. (C) Camilleri said he had a longstanding relationship with
IIC CEO Reza Hamzehlou, and that during a late May visit to
Malta, Hamzehlou had expressed an interest in working with
Camilleri and his law firm to set up an IIC trading entity in
Malta. The reason given was that "ongoing privatization
efforts" in Iran had given IIC an opportunity to purchase the
Iranian government-owned firm "PetroPars" for USD 500
million. Hamzehlou told Camilleri that the global nature of
PetroPars, along with the international activities of IIC's
existing subsidiaries, had led IIC to decide to establish a
corporate presence in Europe that would be better suited for
trade with the west. Camilleri described Hamzehlou and his
partners who had also visited Malta (Merhdad Bagheri, Alirez
Alaee Rahmani, and Seyed Amin Ghorashi Sarvestani) as
reform-minded "moderates" who believed the current
"situation" in Iran could be improved through the expansion
of business ties to the west.


4. (C) Camilleri provided copies of emails indicating that
IIC has been looking for European partners to support, and
possibly finance, the acquisition of PetroPars. Other emails
indicated that IIC had already begun purchasing PetroPars
shares on the open market.


5. (C) Action Request: Post would welcome from the
Department any guidance that could be offered to the GoM and
MFSA regarding the IIC proposal to set up a "trading entity"
in Malta.


6. (U) Following is a list of firms IIC claims among its
holdings:

Kayson
Arian Mojaddad Engineering Co.
Itad Sanat Pouya Engineering Co.
Farasar Construction Co.
Tehran Darou Pharmacutical Co.
Tehran Chemie Pharmaceutical Co.
Iran Hormone Co.
Hakim Pharmacutical Co.
Ibrahim Asgarian Damavandi
Masoud Asgarian Damavandi
Mohammad Reza Asgarian Damavandi
Mahmoud Asgarian Damavandi
Amir Hussein Brojerdian
Abhar Silica Co.
Shisheh Mazrouf Yazd Co.
Kaveh Silica Co.
Bolour Shisheh Kaveh Co.
Bolour Shisheh Taban Co.
Kaveh Float Glass Co.
Saveh Jam Co.
Iran Float Glass Co.
Kaveh Soda Chemical Industries Co.
Mohammad Reza Karbalaee Ghadiri
Rahmatollah Shamsi

VALLETTA 00000211 002 OF 003


Hadi Shamsoddini
Kaveh Glass Industrial Group
Fatemeh Brojerdian
Ahmad Saberian
Mohammad Saeed Sadegh Tehrani
Javad Sadegh Tehrani
Hussein Haji Seyed Solayman
Abbass Haji Seyed Solayman
Ali Haji Seyed Solaymani
Akbar Lorpari Zanganeh
Reza Mokhtari
Mohammad Hussein Pashapour
Ismael Karbalaee Ibrahim
Abdolmajid Javadian
Gholam Ali Mohammad Soltani
Amim Co.
Hezare Sevom Investment Co.
Omid Investment & Business Co.
Hassas Export Co.
Jame Spinning, Weaving and Clothing Mills Co.
Motahari Spinning and Weaving Mills Co.
Alinaghi Seyed Khamoushi
Iran Ofogh Industrial Development Co.
Coloran Co.
Lazak Persian Gulf Co.
Yasaman Porcelain Industries Co.
Yaran Pipe Rolling Co.
Gameron Petro-Industrial Co.
Alvand Persian Gulf Investment Co.
Kavian Can Packaging Industries Co.
Saman Sazan Bakhtar Co.
Arian Paj International Investment & Development Co.
Hami Gostareh Shargh Investment Co.
Karafarin Bank
Karafarin Insurance Co.
Mazandaran Semnan Co.
Iranian Financial Services Co. (IFS)
Alavijeh Steel Cooperation
Hassan Rahim Monfared
Alireza Rahim Monfared
Khouzestan Gypsum Industries Co.
Yazd Gypsum Mills Co.
Bank Saman
Talash & Towseh Asia Co.
Afsoun Ravan Co.
Islamic Cooperation Society
Hussein Gholi Razzaghi Darian
Habib Razavi
Ahmad Karimi Isfahani
Mehdi Karimi Isfahani
Bank saman Investment Co.
Ali Akbar Haji Mohammad Hussein Kashi
Imamali Karbasi Darian
Ali Asghar Sarabi Dariani
Iraj Mirza Ildorom
Saeed Sarabi Dariani
Narkangan Gas to Liquid International Co.
Ibrahim Jamili
Shervin Mokhtari
Parsian Setareh Gharb Co.
Technician Co.
Simin Ran Nik Indusrial & Mining Co.
Mohammad Ali Haji Moniri
Hassan Shamsolhoda
Iran Farmis Co.
Gilan Steel Rollign Co.
Risk Management Co.
Mohsen Mohebbi
Behrouz Mokhtari
Mehdi Dadkhahe Tehrani
Khalil Eltejaee
Pars Nasim Co.
Ayandehgar Co.
Saman Insurance Co.
Dara Commercial Co.
Qeshm Energy Co.
Alireza Alaee Rahmani
Mohammad Reza Amir Hassan Khani
Sirous Mokhtari
Kimiafam Co.
Moj News Agency
Mohammad Javad Husseini
Arkan Gas Co.
Amir Hushang Amini
Seyed Mostafa Miri Chemieh
Omid Sahm Co.

VALLETTA 00000211 003 OF 003


Seyed Mehdi Ishaghizadeh
Reza Amrollahi
Iran Phosphor Co.
Mehrdad Bagheri
Hassan Khosrowjerdi
Moridan Pars Co.
Ahmad Salamin Niasar
Oranous Seyd Co.
Mohammad Javad Mohebbi
Farhad Rahnama
Mohammad Parham
Turquoise Investment Co.
Reza Hamzehlou
Arasbaran Chemic Co.
Jafar Zarrehbini
Pars Gas Refinery Co.
BORDONARO