Tuesday, July 20, 2010

(NEWS) German Bank Funding Iran Nuclear Program

"Berlin: Efforts to up implementation of UN sanctions under way.

German authorities are facing criticism because of the role of a Hamburg-based Iranian bank in financing Teheran’s nuclear and missile development programs. Europäisch-Iranische Handelsbank (EIH) specializes in financing trade between Europe and Iran and has been blacklisted by the US government.

The Jerusalem Post has learned that Western diplomats have criticized Germany for failing to join the UK and France in their push to clamp down on EIH as part of wider sanctions against Iran. When asked about the criticism, a spokesman for the German Foreign Ministry told the Post last week that the the federal government was 'working with its European partners on an intensified implementation of the recent UN Security Council resolution against Iran.' The spokesman added that efforts also included 'continued restrictions in the bank sector.'"

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