Identifier
Created
Classification
Origin
08SEOUL1207
2008-06-17 04:48:00
SECRET
Embassy Seoul
Cable title:
SEOUL RESPONSE/ACTION REQUEST: IRANIAN FINANCIAL
how-toVZCZCXRO0947 PP RUEHBC RUEHDE RUEHDIR RUEHKUK DE RUEHUL #1207 1690448 ZNY SSSSS ZZH P 170448Z JUN 08 FM AMEMBASSY SEOUL TO RUEHC/SECSTATE WASHDC PRIORITY 0443 INFO RUCNIRA/IRAN COLLECTIVE PRIORITY RUEHKL/AMEMBASSY KUALA LUMPUR PRIORITY 2638 RUEHHK/AMCONSUL HONG KONG PRIORITY 3581 RUEATRS/DEPT OF TREASURY WASHINGTON DC PRIORITY
S E C R E T SEOUL 001207
SIPDIS
STATE FOR ISN/CPI, T, NEA/IR, IO/PSC, EUR/WE, EAP/K
TREASURY FOR OFAC
E.O. 12958: DECL: 06/18/2033
TAGS: ECON EFIN IR KNNP PARM PTER KS IS UK CH HK
SUBJECT: SEOUL RESPONSE/ACTION REQUEST: IRANIAN FINANCIAL
PRACTICES AND BANK MELLAT SEOUL
REF: (A) SEOUL 650 (B) STATE 30247 (C) STATE 61123
(D) STATE 63929
Classified By: EMIN ANDREW QUINN FOR REASONS 1.4 (B&D).
S E C R E T SEOUL 001207
SIPDIS
STATE FOR ISN/CPI, T, NEA/IR, IO/PSC, EUR/WE, EAP/K
TREASURY FOR OFAC
E.O. 12958: DECL: 06/18/2033
TAGS: ECON EFIN IR KNNP PARM PTER KS IS UK CH HK
SUBJECT: SEOUL RESPONSE/ACTION REQUEST: IRANIAN FINANCIAL
PRACTICES AND BANK MELLAT SEOUL
REF: (A) SEOUL 650 (B) STATE 30247 (C) STATE 61123
(D) STATE 63929
Classified By: EMIN ANDREW QUINN FOR REASONS 1.4 (B&D).
1. (U) This is an action request. Please see para 4.
2. (S) On June 17, Ministry of Foreign Affairs and Trade
(MOFAT) Disarmament and Non-proliferation Acting Division
Director Lee Sang-soo thanked Econoff for the two demarches
(in Refs C&D) outlining Bank Mellat's recent proliferation
activities in East Asia. He said the Ministry of Strategy
and Finance's (MOSF) Foreign Exchange System Division in
concert with the Bank of Korea (BoK) would launch immediate
investigations into the cases and convey their results to the
USG as soon as possible.
3. (S) Lee added that MOSF's Foreign Exchange Division had
completed a preliminary investigation into the transactions
provided in Ref B but had, to date, found no improprieties.
Moreover, a MOSF team had visited Bank Mellat's Seoul branch
on May 26 to conduct a "strict on-the-spot review" but found
no irregularities. During that visit, the MOSF team had
strongly warned the Bank's branch head not to engage in any
proliferation-related financial activity.
4. (S) ACTION REQUEST: To strengthen the ROKG's
investigatory work on Bank Mellat and related issues, Lee
welcomed an official proposal from the USG to hold a
working-level meeting of ROKG and USG Iranian financial
experts in Seoul this summer. Lee said such a proposal was
likely to be accepted by MOSF and the BoK, since the exchange
could help to sharpen investigatory aims and methodologies.
Lee noted, however, that while MOFAT supports the idea of an
experts meeting and will advocate it vis-a-vis MOSF and BoK,
MOFAT prefers that the USG originate the proposal. We
recommend that the USG propose such an experts meeting in
late July or August, thereby avoiding potential scheduling
conflicts with earlier VIP visits that will draw extensively
on EMBASSY resources through mid-July. End action request.
VERSHBOW
SIPDIS
STATE FOR ISN/CPI, T, NEA/IR, IO/PSC, EUR/WE, EAP/K
TREASURY FOR OFAC
E.O. 12958: DECL: 06/18/2033
TAGS: ECON EFIN IR KNNP PARM PTER KS IS UK CH HK
SUBJECT: SEOUL RESPONSE/ACTION REQUEST: IRANIAN FINANCIAL
PRACTICES AND BANK MELLAT SEOUL
REF: (A) SEOUL 650 (B) STATE 30247 (C) STATE 61123
(D) STATE 63929
Classified By: EMIN ANDREW QUINN FOR REASONS 1.4 (B&D).
1. (U) This is an action request. Please see para 4.
2. (S) On June 17, Ministry of Foreign Affairs and Trade
(MOFAT) Disarmament and Non-proliferation Acting Division
Director Lee Sang-soo thanked Econoff for the two demarches
(in Refs C&D) outlining Bank Mellat's recent proliferation
activities in East Asia. He said the Ministry of Strategy
and Finance's (MOSF) Foreign Exchange System Division in
concert with the Bank of Korea (BoK) would launch immediate
investigations into the cases and convey their results to the
USG as soon as possible.
3. (S) Lee added that MOSF's Foreign Exchange Division had
completed a preliminary investigation into the transactions
provided in Ref B but had, to date, found no improprieties.
Moreover, a MOSF team had visited Bank Mellat's Seoul branch
on May 26 to conduct a "strict on-the-spot review" but found
no irregularities. During that visit, the MOSF team had
strongly warned the Bank's branch head not to engage in any
proliferation-related financial activity.
4. (S) ACTION REQUEST: To strengthen the ROKG's
investigatory work on Bank Mellat and related issues, Lee
welcomed an official proposal from the USG to hold a
working-level meeting of ROKG and USG Iranian financial
experts in Seoul this summer. Lee said such a proposal was
likely to be accepted by MOSF and the BoK, since the exchange
could help to sharpen investigatory aims and methodologies.
Lee noted, however, that while MOFAT supports the idea of an
experts meeting and will advocate it vis-a-vis MOSF and BoK,
MOFAT prefers that the USG originate the proposal. We
recommend that the USG propose such an experts meeting in
late July or August, thereby avoiding potential scheduling
conflicts with earlier VIP visits that will draw extensively
on EMBASSY resources through mid-July. End action request.
VERSHBOW