Skip to comments.S. Korea announces independent sanctions on Iran
Posted on 09/08/2010 12:30:02 AM PDT by Rabin
Bank Mellat, the Islamic Revolutionary Guard Corps (IRGC), the Islamic Republic of Iran Shipping Lines (IRISL), have facilitated hundreds of millions of dollars in transactions to help aid Iran's nuclear, missile, and defense entities.
(Excerpt) Read more at xinhuanet.com ...
South Korea wants very much to survive, after all.
The Norkies and Iran are surely in on this thing together, as yet another axis of evil.
The link didn’t go to the article.
for them and all.
i fear at this point the shit can not be put back into the horse.
we are on the verge of global war that will simultaneously start in places even pentagon planners have never heard of.
“The link didnt go to the article.”
Thanks so much , Rab.
Good and thank you Piasa.
“S.Korea restricts operations of Iran’s Bank Mellat”
Published September 08, 2010 | Reuters
SNIPPET: “SEOUL, Sept 8 (Reuters) - South Korea said on Wednesday itwould restrict the Seoul operations of an Iranian bank accused of facilitating Tehran’s efforts to develop nuclear weapons.
“The government will restrict foreign exchange transactionsof 102 institutions ... including Bank Mellat, and 24 individuals...without the approval of the Bank of Korea,” a government statement said.”
OFF THREAD TOPIC (Different bank).
stepping back in time...
Treasury Designates Companies Tied to Irans Bank Melli as Proliferators
TREAS.GOV - UNITED STATES DEPARTMENT OF THE TREASURY ^ | March 3, 2009 | n/a
Posted on March 9, 2009 12:11:46 AM PDT by Cindy
Note: The following text is a quote:
March 3, 2009 TG-46
Treasury Designates Companies Tied to Irans Bank Melli as Proliferators
Washington, DC — The U.S. Department of the Treasury today designated 11 companies under Executive Order 13382 for their ties to Iran’s Bank Melli. E.O 13382 is an authority aimed at freezing the assets of Weapons of Mass Destruction proliferators and those who support them. Bank Melli has been designated as a proliferator by the United States, the European Union, and Australia for its role in Iran’s nuclear and ballistic missile programs. Additionally, United Nations Security Council Resolution 1803 calls on all Member States to exercise vigilance with respect to activities between financial institutions in their territories and all Iranian banks, particularly Bank Melli.
“The international community has recognized the proliferation risks posed by Iran’s Bank Melli,” said Under Secretary for Terrorism and Financial Intelligence Stuart Levey. “We will continue to take steps to protect the integrity of the international financial system by exposing the banks, companies, and individuals supporting Iran’s nuclear and missile programs.”
Bank Melli provides financial services, including opening letters of credit and maintaining accounts, for Iranian front companies and entities engaged in proliferation activities. Further, Bank Melli has facilitated the purchase of sensitive materials utilized by Iran’s nuclear and missile industries and has handled transactions for other designated Iranian entities, including Bank Sepah, Defense Industries Organization, and Shahid Hammat Industrial Group.
Bank Melli Iran Investment Company (BMIIC) and Bank Melli Printing and Publishing Co. were designated because they are owned or controlled by Bank Melli. The following five entities were designated because they are owned or controlled by BMIIC: BMIIC International General Trading Ltd., Melli Investment Holding International (MEHR), Cement Investment and Development Company (CIDCO), Mazandaran Textile Company, and Melli Agrochemical Company. Two entities, MEHR Cayman Ltd. and First Persian Equity Fund, were designated because they are owned or controlled by, or acting or purporting to act for or on behalf of,directly or indirectly,MEHR and BMIIC. The remaining entities, Mazandaran Cement Company and Shomal Cement Company, were designated because they are owned or controlled by CIDCO.
BMIIC is one of the largest publicly listed companies on Tehran’s Stock Exchange with a current market capitalization of more than $1 billion. BMIIC’s portfolio includes investments in more than 100 companies across a variety of business sectors including, but not limited to, petrochemicals, industrial contracting, non-ferrous minerals, financial intermediaries, as well as the food and beverage sector.
The Bank Melli Printing and Publishing Co. is responsible for meeting the printing needs of Bank Melli’s domestic branches as well as other Government of Iran institutions. Melli Investment Holding International (MEHR) was incorporated in the Dubai International Financial Centre (DIFC), United Arab Emirates (UAE), in 2005 and is wholly-owned by BMIIC. BMIIC established BMIIC International General Trading Ltd. in 2004 in Dubai, UAE.In this manner, BMIIC used the DIFC as a free zone jurisdiction to carry outits investment-related activities.
MEHR Cayman Ltd. is domiciled in the Cayman Islands and is the investment manager and placement agent for First Persian Equity Fund, an investment vehicle launched in June 2007 that focuses primarily on companies listed on Tehran’s stock exchange. BMIIC advises First Persian Equity Fund and demonstrated its commitment to First Persian Equity Fund by agreeing to invest the equivalent of Euro 15 million as seed capital. In order to avoid liquidity issues in the Fund’s infancy, MEHR Cayman Ltd. was permitted to source First Persian Equity Fund’s stock portfolio from the existing holdings of BMIIC.
MEHR’s Executive Chairman, Chief Investment Officer and Managing Director occupy three of the four corporate director slots at First Persian Equity Fund. These same individuals have previously occupied or currently occupy senior positions at other Bank Melli affiliates, including MEHR Cayman Ltd., BMIIC International General Trading Ltd., and Future Bank, a Bahraini financial institution designated under E.O. 13382 in March 2008. Thus, BMIIC, via its subsidiaries in the UAE and the Cayman Islands, exerts a controlling interest on the overall strategic direction of, potential shareholders of, and investment decisions of, the First Persian Equity Fund.
CIDCO was established in 2004 by BMIIC as a holding company that specializes in the cement industry. According to BMIIC, CIDCO was created to manage its cement interests. These interests include the Mazandaran Cement Company, which CIDCO majority owns, and the Shomal Cement Company.
As a result of Treasury’s actions today, all transactions involving any of the designees and any U.S. person are prohibited and any assets the designees may have under U.S. jurisdiction are frozen.
Identifying Information on Designees:
BANK MELLI IRAN INVESTMENT COMPANY
AKA: BMIIC Location: No. 2, Nader Alley, Vali-Asr Str., Tehran, Iran, P.O. Box 3898-15875 Alt. Location: Bldg 2, Nader Alley after Beheshi Forked Road, P.O. Box 15875-3898,Tehran, Iran 15116 Alt. Location: Rafiee Alley, Nader Alley, 2 After Serahi Shahid Beheshti, Vali E Asr Avenue, Tehran, Iran Business RegistrationNumber: 89584
BANK MELLI PRINTING AND PUBLISHING CO.
AKA: Bank Melli Printing Co. Location: 18th Km Karaj Special Road, Tehran, Iran, P.O. Box 37515-183 Alt. Location: Km 16 Karaj Special Road, Tehran, Iran Business Registration Number: 382231
MELLI INVESTMENT HOLDING INTERNATIONAL
AKA: MEHR Location: 514, “Business Avenue” Building, Deira, PO Box 181878, Dubai, UAE Trade License Number: 0107 (Dubai) issued 30 November 2005
MEHR CAYMAN LTD.
Location: Walker House, 87 Mary Street, George Town, Grand Cayman, KY1-9002, Cayman Islands
CEMENT INVESTMENT AND DEVELOPMENT COMPANY
AKAs:CIDCO CIDCO Cement Holding Location: No. 241, Mirdamad Street, Tehran, Iran
MAZANDARAN CEMENT COMPANY
Location: Africa Street, Sattari Street No. 40, P.O. Box 121, Tehran, Iran 19688 Alt Location: 40 Satari Ave. Afrigha Highway, P.O. Box 19688, Tehran, Iran
SHOMAL CEMENT COMPANY
Location: Dr Beheshti Ave No. 289, Tehran, Iran 151446 Alt. Location: 289 Shahid Baheshti Ave., P.O. Box 15146, Tehran, Iran
MAZANDARAN TEXTILE COMPANY
AKAs: Sherkate Nasaji Mazandaran Location: Kendovan Alley 5, Vila Street, Enghelab Ave, P.O. Box 11365-9513, Tehran, Iran 11318 Alt. Location: 28 Candovan Cooy Enghelab Ave., P.O. Box 11318, Tehran, Iran Alt. Location: Sari Ave., Ghaemshahr, Iran
MELLI AGROCHEMICAL COMPANY PJS
AKAs:Sherkat Melli Shimi Keshavarz Location: Mola Sadra Street, 215 Khordad, Sadr Alley No. 13, Vanak Sq, P.O. Box15875-1734, Tehran, Iran
FIRST PERSIAN EQUITY FUND
AKAs: FIRST PERSIA EQUITY FUNDFPEF Location: Walker House, 87 Mary Street, George Town, Grand Cayman, KY1-9002, Cayman Islands Alt. location: Clifton House, 75 Fort Street, P.O. Box 190, Grand Cayman, KY1-1104, Cayman Islands Alt. location: Rafi Alley, Vali Asr Avenue, Nader Alley, Tehran, 15116, Iran, P.O. Box 15875-3898
BMIIC INTERNATIONAL GENERAL TRADING LTD.
AKAs:BMIIGT “BMIICGT” BMIIC Trading UAE Location: P.O. Box 11567, Dubai, UAE Alt. location: Deira, P.O. Box 181878, Dubai, UAE
After some deliberation, they decided that all transaction through designated Iranian entities should require government approval in advance.
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