GENEVA (Reuters) – Switzerland-based Trafigura on Monday became the second major trading house to confirm that it had traded with an Iranian firm that the European Union says has links to Iran’s nuclear program.
The two contracts demonstrate the difficulties that western powers face in curbing Iran’s ability to do business with the rest of the world.
Commodities giant Glencore had supplied thousands of tons of alumina to an Iranian firm that provided aluminum to Iran’s nuclear program, Reuters reported last week, citing intelligence and diplomatic sources.
Trafigura, the world’s third-biggest trader in raw materials, confirmed it had supplied the Iranian Aluminum Company (Iralco) with alumina in exchange for aluminum, after an industry source said Glencore was not the only major firm sending such shipments.
“We can confirm that Trafigura has traded with Iralco in the past. In October 2011, a physical swap agreement was reached whereby Trafigura provided alumina to Iralco in return for aluminum for Trafigura to export worldwide,” the trader said in an emailed statement.
“No deliveries have been made or exports received since new EU sanctions were published in December 2012. The Trafigura Group companies are compliant with national and international law where applicable,” it added.
It did not give further details of the barter deal, the value of which is unclear.
