IRAQI ASSETS: BRAZIL DEMARCHED

UNCLAS BRASILIA 001484

SIPDIS

SENSITIVE

STATE FOR EB/ESC/TFS - JASALOOM
TREASURY FOR WALLWORK, ROSS AND WEISS

E.O. 12958: N/A
TAGS: EFIN PREL IZ BR
SUBJECT: IRAQI ASSETS: BRAZIL DEMARCHED

REF: A. STATE 110075


B. WHA/BSC EMAIL 5/27/04

This cable is Sensitive but Unclassified, please protect
accordingly.


1. (SBU) Emboff made reftel points on Iraqi assets to Ricardo
Liao, head of the Central Bank Office for the Combat of
Illicit Financial Activities, and to Marcos Pinta Gama, head
of the Ministry of Foreign Affairs Office for the Combat of
Illicit International Activities, in meetings June 9 and 16,
respectively. Liao outlined to Emboff the steps that the GoB
has taken to implement UNSCR 1483. He explained that the
Central Bank, acting pursuant to a presidential decree
implementing UNSCR 1483, had issued a circular notice to all
banks requiring them to verify whether they had any accounts
in the names of the persons or entities listed by the UN.
Similar action was taken by the Brazilian Securities and
Exchange Commission with regard to investment firms. To
date, no matches with the Iraq lists had been reported.


2. (SBU) Liao acknowledged that the GoB is dependent on
banks' efforts to comply with the UNSC-mandated sanctions.
Emboff pointed out to both Pinta Gama and Liao that many new
Iraqi entities had been added to the UN Sanctions Committee
lists since the circular had been issued and suggested it
might be useful to remind the financial institutions to
maintain vigilance and update their databases with the latest
UN lists. Pinta Gama agreed to issue a circular notice to
the banks informing them of the updated UN lists.


3. (U) Note: Reftel did not list post as an action addressee,
but we took action based on an email request from WHA.

HRINAK