Iranian-European Bank
Iranian-European Bank is a German bank founded in 1971. Headquartered in Hamburg, it has two other branches in Kish Island and Tehran. The European-Iranian Commercial Bank is a German joint stock company. It is owned by Iranian Bank for Industries and Mines, Iranian Bank Mellat, and Iranian Bank Tejarat.
Its biggest shareholder is an Iranian state-owned bank, Bank of Industry and Mine, and other major stakeholders include Bank Mellat and Bank Tejarat. Due to sanctions against Iran, the bank was not operative between 2011 and 2016. In 2018, before the US pulled out of the Iran deal and reinstated their sanctions, German tabloid Bild obtained information about plans to fly out €300 million in cash. Iran subsequently canceled their request for the German financial authority BaFin to release that money held by the European-Iranian Trade Bank.