Investigation reveals Iranian-linked companies used German bank in Bavaria

A joint investigation by Der Spiegel and ARD’s Report Mainz found that companies linked to Iran’s regime allegedly moved €147 million through a German bank in Bavaria. This financial network sought to acquire a controlling stake in the bank to circumvent international sanctions and facilitate oil revenue transfers. Internal documents from the Federal Financial Supervisory Authority showed that the suspicious Iran-related payments accounted for more than half of the bank’s total balance-sheet volume.

The activity raises serious questions about the extent to which the German bank was facilitating sanctions evasion. The use of a German financial institution by regime-linked companies to move large sums of money suggests potential risks to the integrity of the financial system in Bavaria.