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US accuses of Iran facilitating export of missiles to DPRK

Source: | 01-10-2007 16:03

Iran's fifth largest state-owned bank, Bank Sepah, has been designated by the US Treasury Department as a proliferator of weapons of mass destruction.

The bank has also been accused of facilitating the exporting of Pyongyang's ballistic missiles. As a punitive response, the US Treasury Department has banned all transactions between the bank and all US businesses.

In addition to its alleged nuclear program, Iran is facing new charges. And this time, the target is not the country's researchers or manufacturers but its financing mechanism.

Stuart Levey, under secretary, US treasury department, said, "Since at least 2000, Bank Sepah has provided a variety of critical financial services to Iran's missile industry, arranging financing and processing dozens of multi-million dollar transactions for AIO and its subordinates. The bank has also facilitated business between AIO and North Korea's chief ballistic missile-related exporter, KOMID."

Bank Sepha has branches in a number of European nations. The US government is urging these nations to join hands and deny financial assistance to Iran's nuclear and missile programs.

Stuart Levey, under secretary, US treasury department, said, "Our action today applies to all branches of Bank Sepah, including those in Paris, Rome and Fankfurt, its wholly-owned subsidiary in London, and the Bank's chairman and director, as well as its more than 290 branches based in Iran. The United States urges all governments to comply with their obligations under UN Resolution 1737 by taking appropriate action against all entities involved in Iran's nuclear or missile programs."

In addition to prohibiting transactions with the Bank, the US Treasury has also decided to freeze any assets that the bank may have under US jurisdiction.


Editor:Du Xiaodan