Iran Gets Around US Bank Sanctions

Bank Mellat, Iran's third largest state-owned bank, is getting around US-imposed sanctions by establishing links with small and medium-sized banks that have less US exposure than bigger lenders, its managing director said.

Ali Divandari told the Financial Times that US sanctions had failed to prevent the bank's "links with the international brokerage network", adding: "We managed to quickly replace other banks."

The US in October imposed unilateral sanctions against three of Iran's commercial banks - Melli, Saderat and Mellat - to choke off Iran's access to dollar financing and the US financial system.

Analysts say financial sanctions have hit Iran harder than the United Nations-imposed sanctions, which are largely restricted to nuclear- and missile-related activities and people involved in such activities.

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Comments

[JScott]

Not surprising when you think with all those resources no one still has been able to find Osama.

[cayuse1]

US and Britain Armada moving on the Persian Gulf

Republican Bush Toddlers fair foreign policy abounds

[Marcl]

What the Iranian government doesn't confess is the economic pressure on public, high prices of basic necessities, and the fact of shouldering much higher costs/fees in dealing with smaller banks. Regardless, the sanctions have major economic effects. However, is not the government that's suffering, it's the masses. And that's very unfortunate !

[bugdog]

Good! The more the rest of the world evades the US government the better I like it!

[GleenTurner]

I love Russia cutting off communication with NATO.

The rest of the world should just ignore America and Americans until they start becoming decent people again.

[GleenTurner]

Having worked in Iran and also Libya for 2 years I can assure you Americans there are literally thousands of ways to get around sanctions.

[cayuse1]

US concept of a Level Playing Field, G8, Sanctions, Calateral Damage US can attack or sanction anyone, anytime anywhere, but no else can

Wish someone would bring a new Ball and the War Mongers could take theirs home so they can play with themselves ant let the world live in FREE TRADE and PEACE

[Furby]

New ball on its way, compliments of China.

[landmine]

Interesting parallel with Japan in the 30's. We sanctioned them almost to death and then we had a nice little war.
Iran, surrounded by USA 20+ bases and a fleet or two on all sides. The west trying to choke them into submission. Why? They had the audacity to want to control their own natural resources and be governed by other than a USA puppet.

[cayuse1]

Too much money being made by War and Armament.

We sell little guns to Iran while we move two new Air Craft Carriers with the British Armada into the Persian Gulf

Military is struggling so hard to get so little country that is dumb enough to stand up against our might. Just so they can say we are the biggest military on the block and we can be SUCCESSFUL

[Furby]

You see, that's one of those little things that irks the international community, this chest thumping stuff "dumb enough to stand up against our might". Don't you get it yet.

[danoj]

What, we made a law with aloophole in it? How can this be?

[cayuse1]

Reminds me how we track American who cross the Mexican Border

We just forget to track the any illegals and terrorist

So many hidden agenda's and self interest and we wonder why kids are too smart for US education

[Americatortures]

Wow...even Iranian bankers are smarter than our bankers and Homeland Security dolts!!!

[fact finder]

true

[instagladiator]

Why am I not surprised?

[Tom95134]

They must have been working this out over the weekend when $12,000+ worth of telephone calls were pirated between the U.S. and Iran via the Department of Homeland Security telephone system.

Some security.

[AmandaBC]

Not a great accomplish­ment...