UANI Unveils Investigation into Iran Currency Printing Industry and Calls on EU Firms to Clarify Business Activities in Iran
NEW YORK--(BUSINESS WIRE)-- On Thursday, United Against Nuclear Iran (UANI) launched its Rial Currency Printing Campaign, and announced the results of an investigation into the multinational companies that help Iran produce its currency, the rial.
While Iran continues to suffer from the dramatic fall of the rial and hyperinflation, some international companies continue to assist the regime and its Central Bank in printing and maintaining the rial’s efficacy. Such assistance undercuts the global effort to isolate and sanction Iran for its defiance of internal law and its pursuit of an illicit nuclear weapon.
UANI has learned of two companies, Koenig & Bauer Aktiengesellschaft (KBA) and Flint Group S.A. (Flint), that may be playing an integral part in the printing of the rial. UANI has also learned that the firm De La Rue plc (DLR) has previously printed Iranian rials.
As the rial falls and confidence in it suffers, such companies key Iran’s efforts to bolster and regain the rial’s lost value. Without printing materials and technology the Iranian regime will be unable to forestall the continued fall of the rial. UANI calls on these companies to clarify the nature and extent of their work with the Iranian regime, to immediately terminate such business, and to reclaim any goods or machinery in Iran and remove them from Iranian soil.
KBA, of Germany, is the world’s second-largest security banknote printing press manufacturer, and has sold printing presses to numerous Iranian entities. KBA currently maintains contacts with at least two Iranian companies, Techno Sanaye and Karapayam Publishing & Printing.
Flint, an ink and chemical supplier based in Luxemburg, works in Iran through SunColor Inks Co., and holds the patent for a trademarked family of banknote printing products repeatedly requested by the Central Bank of Iran.
UANI has also contacted DLR, a British firm whose machines have printed rials for the regime in the past, for clarification about any current ties to Iran.
In a letter sent to KBA officials, UANI CEO, Ambassador Mark D. Wallace, wrote:
…UANI is therefore highly concerned with KBA’s ongoing presence in Iran. KBA has previously sold printing presses to numerous Iranian entities and currently maintains contacts with at least two Iranian companies, Techno Sanaye and Karapayam Publishing & Printing. Furthermore, KBA’s subsidiary KBA MetalPrint GmbH & Co. KG was listed as a member of the German-Iranian Chamber of Commerce as recently as 2010.
In a separate letter sent to Flint, Ambassador Wallace wrote:
Flint works in Iran through SunColor Inks Co., listed as “the exclusive representative for the FLINT GROUP CO in the Iran market.” Further, Flint’s Iran business is bolstered by trade seminars in Iran by “qualified staff” from Flint.
Moreover, in order to produce large numbers of high-security banknotes, the CBI has apparently turned to companies such as Flint for technical expertise, printing machinery and raw materials. The CBI recently released requests-for-tender (“RFTs”) soliciting the supply of printing presses, security fibers, hologram application machines and chemicals and additives crucial to the banknote production process.
In another letter sent to DLR’s CEO, Ambassador Wallace wrote:
As you know, DLR is the last publically-known printer of Iranian banknotes, with the DLR imprint appear on the rial as late as 1993. Given the highly complex nature of banknote printing and resultant long-term relationships between printers and central banks, UANI is highly concerned that DLR has continued to provide machinery, materials, technical support, or consulting services to the CBI.
Click here to view UANI’s Iran Rial Currency Printing Campaign website.
Click here to read UANI’s full letter to KBA.
Click here to read UANI’s full letter to Flint.
Click here to read UANI’s full letter to DLR.
Click here to view UANI’s Iran Currency Tracker.
United Against Nuclear Iran
Nathan Carleton, 212-554-3296
Source: United Against Nuclear Iran