Identifier
Created
Classification
Origin
07LONDON1828
2007-05-14 14:15:00
SECRET//NOFORN
Embassy London
Cable title:
(S/NF) BANK SEPAH INTERNATIONAL: ASSETS PROMPTLY
how-toVZCZCXRO4475 OO RUEHBC RUEHDE RUEHDIR RUEHKUK DE RUEHLO #1828 1341415 ZNY SSSSS ZZH O 141415Z MAY 07 FM AMEMBASSY LONDON TO RUEHC/SECSTATE WASHDC IMMEDIATE 3421 INFO RUCNIRA/IRAN COLLECTIVE IMMEDIATE RUEATRS/DEPT OF TREASURY WASHDC IMMEDIATE
S E C R E T LONDON 001828
SIPDIS
NOFORN
SIPDIS
STATE FOR T, ISN/CPI CHALMERS, NEA/IR MISKO, AND EUR/UBI
TREASURY FOR TFFC LOEFFLER
E.O. 12958: DECL: 05/13/2017
TAGS: EFIN KNNP IR PARM PREL UK
SUBJECT: (S/NF) BANK SEPAH INTERNATIONAL: ASSETS PROMPTLY
FROZEN, CONSIDERABLE MOVEMENT OF DEPOSITS BEFORE UNSCR 1747
ENACTED
REF: STATE 60238
Classified By: John McNamara, Counselor for Labor and Social Affairs, f
or 1.4 (b) and (d)
S E C R E T LONDON 001828
SIPDIS
NOFORN
SIPDIS
STATE FOR T, ISN/CPI CHALMERS, NEA/IR MISKO, AND EUR/UBI
TREASURY FOR TFFC LOEFFLER
E.O. 12958: DECL: 05/13/2017
TAGS: EFIN KNNP IR PARM PREL UK
SUBJECT: (S/NF) BANK SEPAH INTERNATIONAL: ASSETS PROMPTLY
FROZEN, CONSIDERABLE MOVEMENT OF DEPOSITS BEFORE UNSCR 1747
ENACTED
REF: STATE 60238
Classified By: John McNamara, Counselor for Labor and Social Affairs, f
or 1.4 (b) and (d)
1. (S/NF) The Bank of England, acting as an agent of Her
Majesty's Treasury, froze the assets of Bank Sepah
International "within minutes" of the approval of UNSCR 1747,
according to Patrick Guthrie, Head of the Financial Sanction
Unit at HM Treasury. Simultaneously with the freeze of Bank
Sepah's assets, the Bank of England notified the financial
services sector in the United Kingdom. In response to
questions contained reftel, Guthrie also noted that the
Financial Services Authority, the UK financial services
regulator, had temporarily frozen Bank Sepah International's
assets three days prior to the UNSCR in order to prevent the
flight of Bank Sepah assets. Guthrie said that there are not
yet any reliable estimates of how many assets were frozen.
2. (S/NF) Guthrie said that there was "quite a significant"
level of activity from depositors in Bank Sepah International
in the weeks leading up the UNSCR. Guthrie said that much of
the activity involved the withdrawal of assets by the
Government of Iran and other Iranian banks. He said that the
Financial Services Authority likely had records of these
transactions, but expressed doubt that it would share the
details of these transactions directly with the Embassy. He
did not rule out, however, that such information might be
obtained through intelligence channels.
3. (S/NF) Guthrie said that HM Treasury has been issuing
licenses for Bank Sepah transactions based upon the UNSCR's
exemption for "prior licenses." He noted, however, that
these transactions are being carefully monitored to ensure
that no payments are being made to other designated entities.
Visit London's Classified Website:
http://www.state.sgov.gov/p/eur/london/index. cfm
TUTTLE
SIPDIS
NOFORN
SIPDIS
STATE FOR T, ISN/CPI CHALMERS, NEA/IR MISKO, AND EUR/UBI
TREASURY FOR TFFC LOEFFLER
E.O. 12958: DECL: 05/13/2017
TAGS: EFIN KNNP IR PARM PREL UK
SUBJECT: (S/NF) BANK SEPAH INTERNATIONAL: ASSETS PROMPTLY
FROZEN, CONSIDERABLE MOVEMENT OF DEPOSITS BEFORE UNSCR 1747
ENACTED
REF: STATE 60238
Classified By: John McNamara, Counselor for Labor and Social Affairs, f
or 1.4 (b) and (d)
1. (S/NF) The Bank of England, acting as an agent of Her
Majesty's Treasury, froze the assets of Bank Sepah
International "within minutes" of the approval of UNSCR 1747,
according to Patrick Guthrie, Head of the Financial Sanction
Unit at HM Treasury. Simultaneously with the freeze of Bank
Sepah's assets, the Bank of England notified the financial
services sector in the United Kingdom. In response to
questions contained reftel, Guthrie also noted that the
Financial Services Authority, the UK financial services
regulator, had temporarily frozen Bank Sepah International's
assets three days prior to the UNSCR in order to prevent the
flight of Bank Sepah assets. Guthrie said that there are not
yet any reliable estimates of how many assets were frozen.
2. (S/NF) Guthrie said that there was "quite a significant"
level of activity from depositors in Bank Sepah International
in the weeks leading up the UNSCR. Guthrie said that much of
the activity involved the withdrawal of assets by the
Government of Iran and other Iranian banks. He said that the
Financial Services Authority likely had records of these
transactions, but expressed doubt that it would share the
details of these transactions directly with the Embassy. He
did not rule out, however, that such information might be
obtained through intelligence channels.
3. (S/NF) Guthrie said that HM Treasury has been issuing
licenses for Bank Sepah transactions based upon the UNSCR's
exemption for "prior licenses." He noted, however, that
these transactions are being carefully monitored to ensure
that no payments are being made to other designated entities.
Visit London's Classified Website:
http://www.state.sgov.gov/p/eur/london/index. cfm
TUTTLE