Sunday, November 23, 2008

U.S. PRESSES UAE ON IRAN BANKS


The Media Line Staff

Dubai. (TML)
The United States is urging the United Arab Emirates to keep a closer eye on Iranian banks operating in Dubai.
Iranian banks are conducting business in the Gulf financial hub despite United Nations economic sanctions, under secretary for terrorism and financial intelligence at the U.S. Treasury, Stuart Levey, said on Wednesday.

Levey said there were challenges in the UAE because of its “deep commercial ties” with Iran.

Iran is engaging in “deceptive financial conduct” in the Gulf region to pursue its nuclear program, Levey said at a news conference in Abu Dhabi.

Some Iranian financial assets and banks are subject to U.N. sanctions, which are aimed at pressuring Iran into abandoning its nuclear program. The U.S. says Tehran has used Iranian banks to channel funds to terrorist organizations.

The international community is concerned Iran is secretly manufacturing a nuclear bomb.

Iran maintains its atomic program is for the peaceful purposes of creating energy and refuses to comply with international demands to abandon the program and suspend uranium enrichment.

Three sets of economic sanctions have so far been imposed on Iran by the U.N.

Levey said more vigilance was needed against Iranian banks, which he said were trying to skirt sanctions.

However, recent reports suggest that the sanctions are being implemented, at least to some extent.

Hamid Husseini, a member of the Tehran Chamber of Commerce, said last month that most banks in the UAE were refusing to provide services to Iranian businessmen importing or exporting goods from or to Iran, according to the Iranian economic magazine Sarmayeh.

Other Iranian businessmen said Emirati banks opened accounts for Iranian businesses, but the banks then imposed strict supervision over them.

The UAE is an important trading partner for the Iran and the Emirates accommodate a large number of Iranian businesspeople.

The UAE is an ally of the United States, Iran’s arch-foe, and like several Sunni Muslim countries in the Gulf is concerned about the prospect of the Shi’ite Iran becoming a nuclear power.

This week the governments of the U.S. and the UAE issued a joint statement in which they stressed their alliance in the fight against terror and extremism.

“The UAE and the United States continue to work together to undercut the violent ideology used to justify extremism and prevent terrorist attacks against our people and common interests and the terrorist financing that supports terrorist organizations,” the statement said.

“The United States and the UAE share a deep concern over the proliferation of weapons of mass destruction (WMD), their delivery systems, and related materials, as well as WMD financing, and reaffirm the importance for all nations to comply with U.N. Security Council resolutions and cooperate with the International Atomic Energy Agency,” it continued.


Copyright © 2008 The Media Line. All Rights Reserved.


No comments: