Global Business in Iran Database

In-depth metrics and analysis of Iran's international economic partnerships.

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by jgambino | Fri, 2010-02-05 20:30
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Balli Group, US Fine, Iran Business

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description

UK-based Balli Aviation Ltd., a unit of Balli Group Plc, agreed to pay $15 million to the U.S. Treasury and Commerce Departments for violating U.S. sanctions on Iran.  In 2007, the firm bought six used-Boeing 747s and leased them to Armenian Airlines, which in turn made the planes available to an Iranian carrier Mahan air for flights to and from Tehran. 

 

Balli Group Plc. is owned by two Iranian brothers (see company profile) who have been accused of close links with the regime in Tehran.  The company also represents U.S. firms Caterpillar and Xerox in Iran. 

Status

  • Current Status:
  • Discussion Date:
  • Contract Date:
  • Completion Date: Fri, 2010-02-05

Citation

1. "UK firm pleads guilty to exporting Boeing to Iran", Press TV, 5 February 2010, available at http://www.presstv.com/detail.aspx?id=117954&sectionid=351020601.

2. "Balli unit settles with US over 747 export to Iran", Reuters, 5 February 2010, available at http://www.reuters.com/article/idUSN0524143620100205.

All projects by Balli Group Plc.