Identifier
Created
Classification
Origin
07BERLIN1159
2007-06-08 16:29:00
SECRET
Embassy Berlin
Cable title:
(S) GERMAN ASSURANCES REGARDING BUNDESBANK'S
how-toVZCZCXYZ0013 OO RUEHWEB DE RUEHRL #1159 1591629 ZNY SSSSS ZZH O 081629Z JUN 07 FM AMEMBASSY BERLIN TO RUEHC/SECSTATE WASHDC IMMEDIATE 8501 INFO RUEHTV/AMEMBASSY TEL AVIV IMMEDIATE 0529 RUEATRS/DEPT OF TREASURY WASHDC IMMEDIATE RUCNDT/USMISSION USUN NEW YORK IMMEDIATE 0478
S E C R E T BERLIN 001159
SIPDIS
STATE FOR ISN, T, NEA, IO, AND EUR/AGS
SIPDIS
E.O. 12958: DECL: 06/08/2017
TAGS: PARM IR GM
SUBJECT: (S) GERMAN ASSURANCES REGARDING BUNDESBANK'S
TRANSFER OF FUNDS TO BANK SEPAH FRANKFURT
REF: STATE 78136
Classified By: Minister-Counselor for Economic Affairs Robert F. Cekuta
, for reasons 1.4 (b) and (d).
S E C R E T BERLIN 001159
SIPDIS
STATE FOR ISN, T, NEA, IO, AND EUR/AGS
SIPDIS
E.O. 12958: DECL: 06/08/2017
TAGS: PARM IR GM
SUBJECT: (S) GERMAN ASSURANCES REGARDING BUNDESBANK'S
TRANSFER OF FUNDS TO BANK SEPAH FRANKFURT
REF: STATE 78136
Classified By: Minister-Counselor for Economic Affairs Robert F. Cekuta
, for reasons 1.4 (b) and (d).
1. (S) EMIN deployed the demarche points in ref with Michael
Witter, MFA Deputy Director General for Economic Affairs,
June 7. He and Global Affairs Officer met with Witter and
MFA Director for Financial Policy Ingo Karsten June 8 to
follow-up on the previous day's discussion.
2. (S) Witter said the MFA had looked into the situation
following discussion with EMIN and the meeting between the
Treasury and the German DCM in Washington. The money had
been transferred to the Bundesbank for eventual transfer to
Bank Sepah Frankfurt in the time before the EU had passed its
Regulation to implement UNSCR 1737. Those funds are now
blocked and Witter repeatedly stated the Bundesbank controls
them. Bank Sepah Frankfurt could ask the Bundesbank to allow
the funds to be used to cover certain costs to prevent the
German branch of the bank from failing to cover basic
operating expenses or to make payments due under contracts
entered into prior to the effective date of the UNSCR 1737
sanctions. Since the funds are blocked and given the
requirements of the UN Security Council Resolution, Witter
continued, if the Bundesbank were to find that it would be
necessary/appropriate to allow funds for Bank Sepah
Frankfurt's basic expenses to be transferred, the German
Government would need first to notify the UN Sanctions
Committee in accordance with UNSCR 1737 stipulations.
TIMKEN JR
SIPDIS
STATE FOR ISN, T, NEA, IO, AND EUR/AGS
SIPDIS
E.O. 12958: DECL: 06/08/2017
TAGS: PARM IR GM
SUBJECT: (S) GERMAN ASSURANCES REGARDING BUNDESBANK'S
TRANSFER OF FUNDS TO BANK SEPAH FRANKFURT
REF: STATE 78136
Classified By: Minister-Counselor for Economic Affairs Robert F. Cekuta
, for reasons 1.4 (b) and (d).
1. (S) EMIN deployed the demarche points in ref with Michael
Witter, MFA Deputy Director General for Economic Affairs,
June 7. He and Global Affairs Officer met with Witter and
MFA Director for Financial Policy Ingo Karsten June 8 to
follow-up on the previous day's discussion.
2. (S) Witter said the MFA had looked into the situation
following discussion with EMIN and the meeting between the
Treasury and the German DCM in Washington. The money had
been transferred to the Bundesbank for eventual transfer to
Bank Sepah Frankfurt in the time before the EU had passed its
Regulation to implement UNSCR 1737. Those funds are now
blocked and Witter repeatedly stated the Bundesbank controls
them. Bank Sepah Frankfurt could ask the Bundesbank to allow
the funds to be used to cover certain costs to prevent the
German branch of the bank from failing to cover basic
operating expenses or to make payments due under contracts
entered into prior to the effective date of the UNSCR 1737
sanctions. Since the funds are blocked and given the
requirements of the UN Security Council Resolution, Witter
continued, if the Bundesbank were to find that it would be
necessary/appropriate to allow funds for Bank Sepah
Frankfurt's basic expenses to be transferred, the German
Government would need first to notify the UN Sanctions
Committee in accordance with UNSCR 1737 stipulations.
TIMKEN JR