News

A recent article published on the internet web site Foxnews.com, and republished elsewhere, falsely stated that Alfa-Bank is the primary financial agent in the development of Iran’s nuclear power plant at Bushehr and erroneously suggested that Alfa-Bank, and by extension its Chairman, Mikhail Fridman, and the Alfa Group as a whole, plays a principal and central role in the development of Iran’s nuclear power program and the sale of aircraft to the government of Iran.

Alfa-Bank is one of the largest privately-owned banking institutions in the Russian Federation and provides a full range of financing and related services to clients in Russia and around the world. Alfa-Bank, the financial arm of Alfa Group in Russia, maintains a client relationship with Atomstroieksport — a company owned and controlled by the Russian Federation — that has a contractual relationship with the Iranian Atomic Energy Organization. Neither Alfa Group, nor any of its subsidiaries including Alfa-Bank, has any direct client relationship with any Iranian entity — public or private — that is a component of the Iranian nuclear development program.

Likewise Alfa-Bank (Ukraine), the financial arm of Alfa Group in Ukraine, has a client relationship with the Kharkov State Aviation Manufacturing Company («KASMC»), a company owned and operated by the government of Ukraine. Neither Alfa Group nor any of its subsidiaries has ever had a direct client relationship with the Iranian aviation industry.

Finally, Mikhail Fridman, the Chairman of Alfa Group, has never played any role, key or otherwise, in any transaction with the Iranian government’s nuclear program or the Iranian aviation industry.