Iranian firm manages assets from Dusseldorf despite sanctions

An Iranian investment firm, IFIC Holding AG, operates from Dusseldorf, Germany, managing significant assets despite international sanctions. The company, a subsidiary of Iran's state-owned Foreign Investment Company, holds assets valued at approximately 250 million Euros. However, it reported a loss of half a million Euros in 2024 and accumulated nearly 400 million Euros in losses. IFIC Holding AG has faced US sanctions since 2018, restricting its financial transactions and ability to trade assets, though it maintains it can meet its obligations.