Germany allows Iranian ‘terror’ banks that are approved to operate | Instant News


Iran’s United Against Nuclear organization published a report on Tuesday, revealing that the German Chancellor Angela Merkel’s government allowed Iranian banks approved by the US government to operate within the federal republic. “The oldest Iranian bank operating in Germany is Melli Bank, founded in 1965 in Hamburg. It is also an Iranian national bank, wholly owned by the Government of Iran (GOI), and its largest company by revenue. The US Treasury sanctioned Bank Melli in 2018 for its support of the IRGC, after allowing the IRGC and its affiliates to move fund inside and outside Iran, “writes the report’s author, Daniel Roth. The Trump administration appoints Iran’s Islamic Revolution Guards Corps (IRGC) as a terrorist entity. The UANI report further notes:” Also in Hamburg is the Sepah Bank, another government sanction bank which state owned is bound to IranMinistry of Defense (MODAFL). The Sepah Bank has provided ‘direct and extensive financial services’ to Iran’s main ballistic missile procurement and development agencies, including the Aerospace Industries Organization (AIO) and its subsidiary, Shahid Hemmat Industrial Group (SHIG). “UANI continues:” The third Hamburg-based bank and perhaps the most famous of all is European Iran Handelsbank (EIH). Unlike the others, EIH was actually established and headquartered in Germany, with branches in Tehran and Kish Island. Since its founding in 1971, it has financed billions of German-Iranian trade dollars and is mostly owned by sanctioned Iranian state-owned banks, the Industrial and Mining Bank. “The report said that” Financial Crimes of the US Treasury Enforcement Network (FINCEN) have called EIH a threat of money laundering, after assisting several Iranian military and defense institutions, including IRGC, Defense Industry Organization (DIO) and AIO. “According to the UANI website The organization “is a non-profit group, two parties, education and advocacy that seeks to prevent Iran from fulfilling its ambitions to obtain nuclear weapons.” UANI was founded in 2008 by Ambassador Mark D. Wallace, the late Ambassador Richard Holbrooke and the Middle East. Ambassador Specialist Dennis Ross. Holbrooke served as US ambassador to Germany (1993-1994) during the administration of US President Bill Clinton .UANI wrote that “The German financial center, Frankfurt, is home to the Sepah Bank and Saderat Bank, which were founded in the same year as the Iranian Revolution , in 1979. With branches throughout Europe and the Middle East, Saderat Bank is another large state-owned bank that has helped the regime support its terrorist proxy, including Hamas, Hezbollah, Palestinian Islamic Jihad (PIJ), and the People’s Front for the Liberation of Palestine (PFLP). “The fifth bank is the Middle East Bank (MEB). MEB opened its branch in Munich in 2019.UANI wrote that “there are reports that Sina Bank and Parsian Bank are also looking to be established in the Bavarian capital. Strangely, MEB is the only Iranian bank here that is not subject to ‘secondary sanctions’ – which puts the company under penalty even outside US jurisdiction. On November 11, 2018, just three days after the initial application, the Office of Foreign Asset Control (OFAC) removed the tag. It’s not clear why OFAC did it, and the agency might want to see it again, but MEB advertises the facts prominently on its website. Despite this, MEB remains a risky entity and is appointed sanctions. “Germany remains Europe’s biggest trading partner with Tehran. In 2019, German companies export goods worth $ 1.64 billion. According to the UANI report, five Iranian banks allow trade with the Islamic Republic of Iran, while major German banks have avoided Iran because of sanctions .UANI wrote that “With less exposure to the US market and potential sanctions than the names of multinational households, the German Mittelstand [mid-size companies] still willing to supply Iran’s demand for industrial goods. However, given the record of Iranian banks which helped facilitate it, the risk was only strengthened. “The Jerusalem Post exclusively reported in 2018 that the German bank Varengold, in the city of Hamburg, was doing business with Iran Air – an airline approved by the US government. The US classifies the Iranian regime as the worst state sponsor of terrorism. The Jerusalem Post reported in February and last year that the German foreign ministry celebrated the revolution of the Islamic Republic of Iran.

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