Identifier
Created
Classification
Origin
08CARACAS204
2008-02-19 20:43:00
CONFIDENTIAL
Embassy Caracas
Cable title:
NATIONAL ASSEMBLY APPROVES CREATION OF BINATIONAL
how-toVZCZCXYZ0011 PP RUEHWEB DE RUEHCV #0204 0502043 ZNY CCCCC ZZH P 192043Z FEB 08 FM AMEMBASSY CARACAS TO RUEHC/SECSTATE WASHDC PRIORITY 0620 INFO RUEHBO/AMEMBASSY BOGOTA 7691 RUEHLP/AMEMBASSY LA PAZ FEB LIMA 0957 RUEHSK/AMEMBASSY MINSK 0024 RUEHQT/AMEMBASSY QUITO 2771 RHEHNSC/NSC WASHDC RUMIAAA/HQ USSOUTHCOM MIAMI FL RUCPDOC/DEPT OF COMMERCE RUEATRS/DEPT OF TREASURY
C O N F I D E N T I A L CARACAS 000204
SIPDIS
SIPDIS
HQ SOUTHCOM ALSO FOR POLAD
TREASURY FOR MMALLOY AND PASS FINCEN
NSC FOR JCARDENAS AND JSHRIER
COMMERCE FOR 4431/MAC/WH/MCAMERON
E.O. 12958: DECL: 02/15/2018
TAGS: EFIN KCRM IR BO VE
SUBJECT: NATIONAL ASSEMBLY APPROVES CREATION OF BINATIONAL
IRANIAN-VENEZUELAN BANK
REF: A. CARACAS 186
B. 2007 CARACAS 2212
Classified By: Economic Counselor Andrew N. Bowen for reasons 1.4 (b) a
nd (d).
C O N F I D E N T I A L CARACAS 000204
SIPDIS
SIPDIS
HQ SOUTHCOM ALSO FOR POLAD
TREASURY FOR MMALLOY AND PASS FINCEN
NSC FOR JCARDENAS AND JSHRIER
COMMERCE FOR 4431/MAC/WH/MCAMERON
E.O. 12958: DECL: 02/15/2018
TAGS: EFIN KCRM IR BO VE
SUBJECT: NATIONAL ASSEMBLY APPROVES CREATION OF BINATIONAL
IRANIAN-VENEZUELAN BANK
REF: A. CARACAS 186
B. 2007 CARACAS 2212
Classified By: Economic Counselor Andrew N. Bowen for reasons 1.4 (b) a
nd (d).
1. (U) On February 14 the National Assembly approved three
laws ratifying agreements with Iran and five ratifying
agreements with Belarus. The Iranian agreements include a
pact to create the Iranian-Venezuelan Binational Bank that
was signed in Tehran on November 19, 2007; a binational
development fund; and a memorandum of understanding on
agricultural cooperation. The Belarus agreements provide for
cooperation in areas including economy and commerce;
investment promotion and protection; education; and fighting
crime. These laws become official once signed by President
Chavez and published in the Official Gazette. According to
press reports at the time, the agreements on the binational
bank and binational development fund were signed during
Chavez' visit to Iran following the November 2007 OPEC summit
(ref B).
2. (C) Comment: While details are sparse, the prospect of a
Venezuelan-Iranian bank is troubling from several points of
view. One local contact with extensive experience in the
financial sector expressed her deep concern that financial
ties between the two countries could deepen with this
agreement. She further speculated that PDVSA might try to
move some of its accounts to Iran or Belarus to evade any
further freezing of assets related to its dispute with
Exxon-Mobil (ref A). End comment.
DUDDY
SIPDIS
SIPDIS
HQ SOUTHCOM ALSO FOR POLAD
TREASURY FOR MMALLOY AND PASS FINCEN
NSC FOR JCARDENAS AND JSHRIER
COMMERCE FOR 4431/MAC/WH/MCAMERON
E.O. 12958: DECL: 02/15/2018
TAGS: EFIN KCRM IR BO VE
SUBJECT: NATIONAL ASSEMBLY APPROVES CREATION OF BINATIONAL
IRANIAN-VENEZUELAN BANK
REF: A. CARACAS 186
B. 2007 CARACAS 2212
Classified By: Economic Counselor Andrew N. Bowen for reasons 1.4 (b) a
nd (d).
1. (U) On February 14 the National Assembly approved three
laws ratifying agreements with Iran and five ratifying
agreements with Belarus. The Iranian agreements include a
pact to create the Iranian-Venezuelan Binational Bank that
was signed in Tehran on November 19, 2007; a binational
development fund; and a memorandum of understanding on
agricultural cooperation. The Belarus agreements provide for
cooperation in areas including economy and commerce;
investment promotion and protection; education; and fighting
crime. These laws become official once signed by President
Chavez and published in the Official Gazette. According to
press reports at the time, the agreements on the binational
bank and binational development fund were signed during
Chavez' visit to Iran following the November 2007 OPEC summit
(ref B).
2. (C) Comment: While details are sparse, the prospect of a
Venezuelan-Iranian bank is troubling from several points of
view. One local contact with extensive experience in the
financial sector expressed her deep concern that financial
ties between the two countries could deepen with this
agreement. She further speculated that PDVSA might try to
move some of its accounts to Iran or Belarus to evade any
further freezing of assets related to its dispute with
Exxon-Mobil (ref A). End comment.
DUDDY