Identifier
Created
Classification
Origin
07ABUDHABI761
2007-05-09 13:18:00
SECRET
Embassy Abu Dhabi
Cable title:
SEPAH ASSETS UPDATE
null Diana T Fritz 05/10/2007 03:45:43 PM From DB/Inbox: Diana T Fritz Cable Text: S E C R E T ABU DHABI 00761 SIPDIS CXABU: ACTION: ECON INFO: AMB DCM TREAS OFAC DAO POL P/M DISSEMINATION: ECON CHARGE: PROG APPROVED: DCM:MQUINN DRAFTED: OFAC:JBEAL CLEARED: ECON:OJOHN VZCZCADI558 OO RUEHC RUEATRS RUCNIRA DE RUEHAD #0761 1291318 ZNY SSSSS ZZH O 091318Z MAY 07 FM AMEMBASSY ABU DHABI TO RUEHC/SECSTATE WASHDC IMMEDIATE 8911 INFO RUEATRS/DEPT OF TREASURY WASHINGTON DC PRIORITY RUCNIRA/IRAN COLLECTIVE
S E C R E T ABU DHABI 000761
SIPDIS
STATE FOR ISN/CPI (JCHALMERS),NEA/IR (SMISKO)
TREASURY FOR RLOEFFLER
E.O. 12958: DECL: 05/09/2017
TAGS: EFIN KNNP IR PARM DA SW AE
SUBJECT: SEPAH ASSETS UPDATE
REF: A. STATE 60238
B. ABU DHABI 590
Classified By: Deputy Chief of Mission Martin Quinn, for reasons 1.4 b
and d.
S E C R E T ABU DHABI 000761
SIPDIS
STATE FOR ISN/CPI (JCHALMERS),NEA/IR (SMISKO)
TREASURY FOR RLOEFFLER
E.O. 12958: DECL: 05/09/2017
TAGS: EFIN KNNP IR PARM DA SW AE
SUBJECT: SEPAH ASSETS UPDATE
REF: A. STATE 60238
B. ABU DHABI 590
Classified By: Deputy Chief of Mission Martin Quinn, for reasons 1.4 b
and d.
1. (S) The UAE Central Bank issued a circular to all UAE
banks to freeze assets under 1747 within four days of the UN
resolution (Ref A). The UAE has not reported the total
amount of assets frozen but the Central Bank Governor, Sultan
bin Nasser al Suweidi, informed Treasury Assistant Secretary
Patrick O,Brien on April 25, 2007 that there have only been
a few accounts frozen that were for Bank Sepah and there was
very little money. Governor Suweidi said most Bank Sepah
related transactions were trade financing, which were
blocked. (Septel) Governor Suweidi also reported that the
Central Bank is preparing the 60 day UN report regarding its
implementation of UNSCR 1747.
2. (S) Post does not have evidence of asset flight and was
informed by the Head of the International Division of the
Anti-Money Laundering and Suspicious Cases Unit that even
Iranian Banks Melli and Saderat had reported to the Central
Bank about frozen accounts (Ref B). (Note. Bank Sepah does
not have operations or a branch in the UAE. End note).
3. (S) Financial institution representatives, that emboffs
have contacted, confirm that they have received the Central
Bank circular.
SISON
SIPDIS
STATE FOR ISN/CPI (JCHALMERS),NEA/IR (SMISKO)
TREASURY FOR RLOEFFLER
E.O. 12958: DECL: 05/09/2017
TAGS: EFIN KNNP IR PARM DA SW AE
SUBJECT: SEPAH ASSETS UPDATE
REF: A. STATE 60238
B. ABU DHABI 590
Classified By: Deputy Chief of Mission Martin Quinn, for reasons 1.4 b
and d.
1. (S) The UAE Central Bank issued a circular to all UAE
banks to freeze assets under 1747 within four days of the UN
resolution (Ref A). The UAE has not reported the total
amount of assets frozen but the Central Bank Governor, Sultan
bin Nasser al Suweidi, informed Treasury Assistant Secretary
Patrick O,Brien on April 25, 2007 that there have only been
a few accounts frozen that were for Bank Sepah and there was
very little money. Governor Suweidi said most Bank Sepah
related transactions were trade financing, which were
blocked. (Septel) Governor Suweidi also reported that the
Central Bank is preparing the 60 day UN report regarding its
implementation of UNSCR 1747.
2. (S) Post does not have evidence of asset flight and was
informed by the Head of the International Division of the
Anti-Money Laundering and Suspicious Cases Unit that even
Iranian Banks Melli and Saderat had reported to the Central
Bank about frozen accounts (Ref B). (Note. Bank Sepah does
not have operations or a branch in the UAE. End note).
3. (S) Financial institution representatives, that emboffs
have contacted, confirm that they have received the Central
Bank circular.
SISON