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IdentifierCreatedClassificationOrigin
07PARIS577 2007-02-13 16:01:00 CONFIDENTIAL Embassy Paris
Cable title:  

FRANCE RESTRICTS TRANSACTIONS WITH ENTITIES AND

Tags:   PREL EFIN MNUC EXIM UNSC EUN PARM IR FR 
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1. (C) On February 12, per ref b, we raised with the MFA's
Nonproliferation office the need to freeze assets of Iranian
entities and persons not specifically listed in the annex of
UNSC 1737. David Bertolotti, deputy to the DAS-equivalent
Director for Nonproliferation, took note of our demarche,
observed that discussions were ongoing within the ministry,
and promised to get back to us with respect to any new
decisions.



2. (C) Bertolotti also confirmed ref a Finance Ministry
discussions on imposing exchange controls on Iran and pointed
to the new February 9 GOF decree (No. 2007-169), which
effectively allows the Government to implement financial
sanctions on legal entities and individuals listed in the
annex of UNSC 1737.



3. (U) Article I of the decree, which cites the French
Monetary and Financial code, specifically articles L. 151-1
and L. 151-2, states that legal entities and individuals
listed in the Annex of UNSC 1737 must obtain
pre-authorization from the Minister of the Economy and
Finance in order to effect the following (informal embassy
translation):

-- currency transactions, capital flows and the settlement of
all types of accounts, which take place between France and
abroad, by or on behalf of individuals and legal entities
mentioned in the Annex or controlled by them, or;

-- the financing and selling of investments in France by and
for these individuals and legal entities mentioned in the
Annex or controlled by them.



3. (U) Article II notes that the decree is also applicable in
Mayotte, New Caledonia, French Polynesia, and the islands of
Wallis and Futuna.



4. (U) Article III states that the Minister of Economy,
Finance and Industry, as well as the Minister for overseas
territories are responsible for the implementation of the
decree.

Please visit Paris' Classified Website at:
http://www.state.sgov.gov/p/eur/paris/index.c fm

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