Published On: Sat, Dec 3rd, 2016

Iran earned 2 billion Euros off German company designing Israeli submarines

After Ynet revealed that the Iranian government owns a 4.5% stake in the German company designing Israeli submarines, further investigation reveals that the Iranian government has earned approximately 2 billion Euros off dividends; Iranian government owns stakes in companies in 22 different countries.

Submarine INS Rahav (Photo: IDF Spokesperson)

It appears that the Iranian government has earned millions of dollars by being a minority shareholder in ThyssenKrupp, the German company which designs Israeli naval ships and submarines.

The Iranian government got an 18.5 percent dividend from ThyssenKrupp in 2006, according to a report from Haaretz published 10 years ago.

Over the last decade, it is believed that Iran earned approximately two billion Euros.

Iran Holds Shares in Company Selling Submarines to Israel

The Iranian government owned foreign investment firm IFIC published that it holds a 4.5 percent stake in ThyssenKrupp in 2011. Meanwhile, in an interview with The Business Year, the head of the Iranian investment firm Dr. Farhad Zargari, did say that the IFIC held share of ThyssenKrupp, but didn’t reveal how much.

“As the central body responsible for foreign investments for the government, the IFIC has a huge responsibility in strengthening Iran’s world economic relations, ” Dr. Zargari said.

“The IFIC has investments in 22 countries on five continents. It has stakes in companies such as British Petroleum, ThyssenKrupp, Adidas, and other large multinational corporations, ” Zargari said in an interview released by the IFIC a few months ago.

The IFIC has reported that its has invested $1.5 billion in foreign companies, 57 percent of which are in Europe.

By Ynet News

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