Nivernaise faces liquidation US sanctions cut off support

Aug 24

France 2 investigates Nivernaise de Raffinage's shutdown and recently announced judicial liquidation in Prémery, Nièvre. Geoffrey Minart shows the empty biodiesel plant. The report says its 2024 rescue by Singapore-based Wellbred preceded US blacklisting of the group and subsidiaries over alleged links to Mohammad Shamkhani; those ownership and Iran-link allegations remain attributed. Archival Scott Bessent remarks warn that US sanctions cannot be evaded. Wellbred did not answer the reporter's email. The French subsidiary was already weakened by falling orders, and thirty-three employees now face the liquidation announcement; Didier Nisgand describes their shock. France 2 says a French bank canceled its contracts, supported by an anonymous banker, and Daniel Mainguy explains partners' fear of losing US-market access. The Economy Ministry reportedly attempted negotiations but did not answer questions. Employees hope for a new owner; no completed takeover or final closure date is established.

US sanctions designation places Nivernaise de Raffinage and its Wellbred connection on the blacklist over alleged links to Mohammad Shamkhani. France 2's retrospective explains Wellbred's 2024 rescue, the alleged Iranian connection and withdrawal of banking and commercial support. The allegations and the report's explanation of effects remain attributed. Later liquidation is a separate development.