Identifier
Created
Classification
Origin
07STOCKHOLM545
2007-05-10 15:48:00
SECRET
Embassy Stockholm
Cable title:
SWEDEN FREEZES ASSETS OF BANK SEPAH AND BANK SEPAH
how-toVZCZCXYZ0033 PP RUEHWEB DE RUEHSM #0545 1301548 ZNY SSSSS ZZH P 101548Z MAY 07 FM AMEMBASSY STOCKHOLM TO RUEHC/SECSTATE WASHDC PRIORITY 2125 INFO RUEHTH/AMEMBASSY ATHENS 0091 RUEHSW/AMEMBASSY BERN 3068 RUEHBY/AMEMBASSY CANBERRA 0692 RUEHLM/AMEMBASSY COLOMBO 0070 RUEHCP/AMEMBASSY COPENHAGEN 3055 RUEHKA/AMEMBASSY DHAKA 0058 RUEHDL/AMEMBASSY DUBLIN 0107 RUEHIL/AMEMBASSY ISLAMABAD 0628 RUEHLO/AMEMBASSY LONDON 0455 RUEHMD/AMEMBASSY MADRID 2181 RUEHMK/AMEMBASSY MANAMA 0078 RUEHNE/AMEMBASSY NEW DELHI 0124 RUEHNY/AMEMBASSY OSLO 2414 RUEHRO/AMEMBASSY ROME 0370 RUEHUL/AMEMBASSY SEOUL 0738 RUEHTC/AMEMBASSY THE HAGUE 3775 RUEHYE/AMEMBASSY YEREVAN 0019 RUEATRS/DEPT OF TREASURY WASHDC
S E C R E T STOCKHOLM 000545
SIPDIS
SIPDIS
DEPARTMENT FOR ISN, NEA, AND EUR/NB
DEPARTMENT PASS TO TREASURY
E.O. 12958: DECL: 05/10/2017
TAGS: EFIN IR KNNP PARM SW
SUBJECT: SWEDEN FREEZES ASSETS OF BANK SEPAH AND BANK SEPAH
INTERNATIONAL
REF: A. SECSTATE 60238
B. STOCKHOLM 498
Classified By: Economic Counselor Ingrid M. Kollist for reasons 1.4 (B)
and (D)
S E C R E T STOCKHOLM 000545
SIPDIS
SIPDIS
DEPARTMENT FOR ISN, NEA, AND EUR/NB
DEPARTMENT PASS TO TREASURY
E.O. 12958: DECL: 05/10/2017
TAGS: EFIN IR KNNP PARM SW
SUBJECT: SWEDEN FREEZES ASSETS OF BANK SEPAH AND BANK SEPAH
INTERNATIONAL
REF: A. SECSTATE 60238
B. STOCKHOLM 498
Classified By: Economic Counselor Ingrid M. Kollist for reasons 1.4 (B)
and (D)
1. (S) EconOff discussed reftel demarche 9 May with MFA Iran
Desk Officer Jonas Wendel and 10 May with Ms. Mira Naumanen
of the Swedish Financial Supervisory Authority. According to
both, Swedish banks were notified April 23 by the official
journal of the EU to freeze all assets in accounts affiliated
with Bank Sepah and Bank Sepah International, a notification
which was amplified by the Swedish Financial Supervisory
Authority in its follow-on instructions to all Swedish banks
to comply immediately and to inform the Authority of actions
taken.
2. (S) The Swedish Financial Supervisory Authority confirms
that Sweden's banks complied with the directive. When asked
for information on the total amount of assets found and
frozen, Naumanen reported that, because of Sweden's secrecy
and privacy laws, she could not share that information with
EconOff. Naumanen reported that those details had been shared
with relevant officers in Sweden's MFA, Finance Ministry, and
at the European Commission. She gave the impression that
some funds had been frozen but would also not identify the
relevant financial institutions. EconOff then asked whether
Sweden had seen any evidence of asset flight from Bank Sepah
and/or Bank Sepah International around the time of the
passage of UNSCR 1747 on March 24. Naumanen remained
circumspect, but stated that there had been "some movement"
of funds at that time, but not on a level that she and
colleagues would describe as "alarming." Naumanen reported
that this information was provided to the MFA, Finance
Ministry, and EC along with the information on total amount
of assets found and frozen.
3. (C) Post will continue to engage with MFA and Finance
Ministry contacts in an attempt to get details on assets
found and frozen and a better sense of the volume of asset
flight which occurred here. We will report additional
information as it is received septel.
NOBLE
SIPDIS
SIPDIS
DEPARTMENT FOR ISN, NEA, AND EUR/NB
DEPARTMENT PASS TO TREASURY
E.O. 12958: DECL: 05/10/2017
TAGS: EFIN IR KNNP PARM SW
SUBJECT: SWEDEN FREEZES ASSETS OF BANK SEPAH AND BANK SEPAH
INTERNATIONAL
REF: A. SECSTATE 60238
B. STOCKHOLM 498
Classified By: Economic Counselor Ingrid M. Kollist for reasons 1.4 (B)
and (D)
1. (S) EconOff discussed reftel demarche 9 May with MFA Iran
Desk Officer Jonas Wendel and 10 May with Ms. Mira Naumanen
of the Swedish Financial Supervisory Authority. According to
both, Swedish banks were notified April 23 by the official
journal of the EU to freeze all assets in accounts affiliated
with Bank Sepah and Bank Sepah International, a notification
which was amplified by the Swedish Financial Supervisory
Authority in its follow-on instructions to all Swedish banks
to comply immediately and to inform the Authority of actions
taken.
2. (S) The Swedish Financial Supervisory Authority confirms
that Sweden's banks complied with the directive. When asked
for information on the total amount of assets found and
frozen, Naumanen reported that, because of Sweden's secrecy
and privacy laws, she could not share that information with
EconOff. Naumanen reported that those details had been shared
with relevant officers in Sweden's MFA, Finance Ministry, and
at the European Commission. She gave the impression that
some funds had been frozen but would also not identify the
relevant financial institutions. EconOff then asked whether
Sweden had seen any evidence of asset flight from Bank Sepah
and/or Bank Sepah International around the time of the
passage of UNSCR 1747 on March 24. Naumanen remained
circumspect, but stated that there had been "some movement"
of funds at that time, but not on a level that she and
colleagues would describe as "alarming." Naumanen reported
that this information was provided to the MFA, Finance
Ministry, and EC along with the information on total amount
of assets found and frozen.
3. (C) Post will continue to engage with MFA and Finance
Ministry contacts in an attempt to get details on assets
found and frozen and a better sense of the volume of asset
flight which occurred here. We will report additional
information as it is received septel.
NOBLE