Now available for mobile phones!

If you wish to view the blog on mobile phone, click here.

Would you like to comment on postings?
Join the Jewish Current Events page on Facebook.

Sunday, May 23, 2010

Jorish: Banks indirectly deal with Iran

While the international sanctions regime prohibits contact with banks in Iran, 18 US banks have indirect financial connections with the Islamic Republic. In this manner, Tehran succeeds in getting its hands on the money needed to finance its nuclear program and to provide aid to terrorist organizations, including Hezbollah  and Hamas.

Under Secretary for Terrorism and Financial Terrorism in the Treasury Department Stuart Levey has been traveling the world for five years asking banks to cut off ties with Iran. He gave an example in which Levey met with the managers of Deutsche Bank and showed them how they transfer currency to Iran. However, they continue to supply euros and other currencies.

Deutsche Bank is not alone. According to Jorisch, the banks that allow Iran to put its hands on the money needed for its nuclear program and terrorism support are numerous, and include some of the largest financial institutions in the world: J. P. Morgan, Bank of America, CitiBank, Societe Generale, Bank Tokyo Mitsubishi UFJ, and VTB.

[  5/23/10],7340,L-3892849,00.html