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Source: http://www.miamiherald.com/2012/03/14/2693960/irans-stealth-financial-partners.html
Iran's Stealth Financial Partners in Latin America
(Miami Herald) Otto Reich and Ezequiel Vazquez Ger - To bypass economic sanctions, Iran may be using a parallel financial system operated by members of ALBA countries - the Cuba-Venezuela-Bolivia-Ecuador-Nicaragua axis - to engage in money-laundering. According to confidential bank reports, in November 2008 the Central Bank of Ecuador authorized the establishment of "a mechanism for deposits and payments to facilitate foreign trade" with Iran.