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How Iran Evades Banking Sanctions

(Ynet News) Yitzhak Benhorin - While the international sanctions regime prohibits contact with banks in Iran, 18 U.S. banks have indirect financial connections with the Islamic Republic. Avi Jorisch, a former U.S. Treasury Department analyst in charge of fighting money laundering for criminal and terrorist purposes, describes in his new book Iran's Dirty Banking its method of evading international sanctions. While three Iranian banks are on the U.S. blacklist and another subjected to UN sanctions, by using various banks around the world as intermediaries, Tehran carries out its finances unhindered. Bank Sepah, Bank Melli and Bank Sederat have dozens of active branches in Frankfurt, Athens, Paris, Rome, and London, in addition to branches in the Middle East and Asia. The very existence of these branches is a violation of the UN directives and is in blatant disregard of the sanctions imposed by the U.S. on these three banks. Jorisch emphasized that the U.S. possesses the means to cripple Iranian financial activities around the world.
2010-05-25 09:26:03
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