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U.S. Treasury Blocks Banks Dealing With Iran

March 1, 2012 by  

U.S. Treasury Blocks Banks Dealing With Iran

The U.S. Treasury Department disrupted a Dubai-based banking operation that the Federal Government believes had become Tehran’s primary channel for evading international sanctions and processing its oil sales, according to a source who was briefed on the operation, The Wall Street Journal reported.

According to the news outlet, the effort to circumvent the sanctions was particularly sensitive because the institution-in-question in the United Arab Emirates is partly owned by the local government of Dubai, an ally of the U.S. The chairman of the bank, known as the Noor Islamic Bank, is the son of the ruler of the emirate.

The Journal reported that Noor, in mid-December, agreed to close off what the people briefed on the operation characterized as Iran’s single-biggest channel for repatriating foreign-currency receipts for oil purchases. According to estimations, this counted for as much as 60 percent of the Middle Eastern nation’s foreign oil sales by late 2011.

Reuters reported that the U.S. Treasury said banks who are involved with Iran “risk losing their correspondent account access to U.S. financial institutions,” according to David Cohen, the Treasury’s undersecretary for terrorism and financial intelligence.

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  • jimmy the greek

    The united states needs to stop trying to control the world for israel.

  • http://personallibertydigest gottaplenty

    The U S needs to give full support to Isreal and let them handle Iran their own way.

    • Vigilant

      gottaplenty’s got plenty of sense, while jimmy the geek still tries to peddle his antisemitic tripe.

    • Joe H

      gottaplenty,
      It is none of our business what goes on in the middle east unless it DIRECTLY affects the US. That said, It is also none of our business if Isreal were to “eliminate” the biggest threat to their very survival. That being Iran’s nuke program!

  • http://comcast Lee Bird -Veteran USMC

    ALL DEALINGS WITH “IRAN” SHOULD CUT OFF IMMEDIATELY !!!!!!!!!!!!!! OTHER COUNTRIES SHOULD DO THE SAME AND LET THEM “SWEAT”. THIS WOULD MAKE THEM THINK TWICE BEFORE THEY CONSIDER WAR ISSUES AGAINEST ANY COUNTRY.

    • metalflyer11

      You seem to be drinking the Kool Aid of war. I guess provoking war sounds very patriotic for you. Tell me how many countries has Iran attacked or invaded in the last 100yrs? How many military bases Iran has outside their country?
      Wake Up!!! Wars are a racket!!! They are allways created for the monetary benefit of a few while the rest of us are left to burn from its consequeces. History keeps repeating itself over and over again and we continue to be fooled by the few elite in power.
      In ancient times were the greed of the Kings/Queens & Emperors. In more recent times are the Money Masters(Banksters) that have mastered the art of buying the world through fiat money & fraud. These same banksters have been using the wealth & military might of the USA for their agenda of world domination. While they have been using us to enforce their iron fist around the world we are being bankrupt in the process. This is part of their plan.
      We The People either WAKE UP soon or there will be not much of the USA as it used to be and the last hope might be to fight a War of the people rising against Tyrany(1776 all over again).

  • ranger hall

    Well you People should know what they mean by UGLY AMERICANS, All this does is Hurt the People, Men,Women and Kids. How much does it take to fight,when People get shoved into a corner. And thats all we are doing, so anything that happens will be our Govts Fault.
    No wonder this can take place, with people like you out there sure makes it easy
    Wonder how many of you will sign up to fight, When people are pushed this hard, it gives them the right to fight back with any means open to them.
    Yes OUR people causing this WILL not have to fight,Their Kids will not have to fight,

    • Vigilant

      Yes, Mr. Chamberlain, we are well aware of the meaning of “appeasement.”

      We UGLY AMERICANS remember what happened in Munich in 1938.

      We UGLY AMERICANS remember UN Security Council Resolution 986, the Oil-For-Food Program, “established with the stated intent to allow Iraq to sell oil on the world market in exchange for food, medicine, and other humanitarian needs for ordinary Iraqi citizens without allowing Iraq to boost its military capabilities.” (Wikipedia)

      We UGLY AMERICANS saw Jimmy Carter go to North Korea to broker deals whereby we would give them diesel fuel and food for guarantees that they would give up their nuclear programs.

      And we UGLY AMERICANS have run out of patience with you marginally intelligent people who refuse to read, understand and abide by the lessons of history.

  • Ted Crawford

    Whatever the people of Iran suffer will be as a result of the decisions made by their leaders. Iran is in defiance of the wishes of the vast majority of the International Community, not just America. The bulk of their own Islamic neighbors are in accordance with this! You’re rabid anti-Americamism is showing here!
    Iran will not be allowed to continue to persue this course, unimpeded, even if Ron Paul was in charge! The lot of the people of Iran will be much, much, worse if Military measures are deemed to become necessary!

  • http://verizon.net Francis P. Ardito,Sr

    While working at G.E. Wimington, MA, our manufacturing staff built a quantity of cockpit displays. These instruments were designated for The Royal Iranian Air Force. With the Shah coming to the USA,, the kidnapping of American employees, the aircraft instruments were placed on hold. The instruments were kept in a large padlocked cage. After several months the instruments vanished. Someone in Washington must have pulled quite a lot of political strings. The Dubai government has continued to pull strings to this day.

    • r.p.

      That someone was G.H.W. Bush and his cohort R.W. Rayguns.

      • Vigilant

        Back that up with a credible source and we’ll talk about it. Otherwise, quit flapping your gums.

      • Joe H

        AMEN And Well said, VIG!!!

  • ROGER, Canadian Libertarian

    Here again, in addition to the U.S. “Treasury” UGLY actions, we have examples of American Arrogance,Ignorance and Immaturity and why I see no chance or hope of preventing the NWO….the American “non-education” system has destroyed the source of American history and the ability of MOST Americans to REASON or understand what is really happening.

    Judging by the Ignorant ( Red Neck and dangerous) comments here and in so many of the articles in Personal Liberty Digest, Americans DESERVE what is happening and unfortunately they are taking the rest of the Western world down with them…”Birds of a Feather Flock together” might be appropriate for any country’s governments which agree with the US. “Treasury” ( no “treasure” is remaining-its all debt)

    I only wonder at and admire Bob Livingston’s patience with many of the inanities…OR maybe I am just “too” Libertarian :-)

    • Vigilant

      Or it just might be you’re “too” Canadian. “Americans DESERVE what is happening?”

      Your unflattering assessment is not appreciated,

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