Iraqis helping Iran skirt sanctions - NY Times

Well if this does not beat all!

ReutersReuters – 2 hrs 24 mins ago



WASHINGTON (Reuters) - Iraq has been helping Iran skirt economic sanctions imposed because of its nuclear program, using a network of financial institutions and oil-smuggling operations that are providing Tehran with a crucial flow of dollars, the New York Times said on Saturday.

In some case, Iraqi government officials are turning a blind eye to trade with Iran, while other officials in Baghdad are directly profiting from the activities -- with several of them having close ties to Iraqi Prime Minister Nuri Kamal al-Maliki, the Times said.

U.S. President Barack Obama acknowledged the problem last month when he barred a small Iraqi bank, the Elaf Islamic Bank, from any dealings with the American banking system, the newspaper said.

At the time, the president said that the bank had "facilitated transactions worth millions of dollars on behalf of Iranian banks that are subject to sanctions for their links to Iran's illicit proliferation activities."

And yet Iraqi banking experts told the Times that Elaf Islamic Bank was still participating in the Iraq Central Bank's daily auction at which commercial banks can sell Iraqi dinars and buy dollars. Through these auctions, Iran is able to bolster its reserve of dollars that are used to pay for much-needed imports.

The Times, citing sources in the Obama administration, current and former American and Iraqi officials and banking and oil experts, said Washington has privately complained to Iraqi officials about financial and logistical ties between Baghdad and Tehran.

In one recent instance, when Obama learned that the Iraqi government was aiding the Iranians by allowing them to use Iraqi airspace to ferry supplies to Syria, he called Maliki to complain, and Iranian planes then flew another route, the Times said.

Iranian organizations apparently have gained control over at least four Iraqi commercial banks through Iraqi intermediaries, which would gives Iran direct access to the international financial system, from which they are barred by the economic sanctions, the Times said.

The problem with illegal Iraq-Iran trade has become well-enough known in Baghdad that it has roiled Iraqi politics, the newspaper said.

"We want to question the central bank and the banks that are involved," Ali al-Sachri, a member of Parliament, told the Times. He said he was concerned that the huge dollar transfers threatened the economic stability of Iraq by depleting the country's foreign reserves.

Iran's ability to trade and the incoming flow of dollars is crucial to the country because the economic sanctions imposed by the United Nations and individual countries are squeezing its economy, the paper said.

(Writing by Philip Barbara; Editing by Cynthia Osterman)


http://news.yahoo.com/iraqis-helping-iran-skirt-sanctions-ny-times-004618293.html

Reuters: Iraq helps Iran to evade sanctions




Reuters: Iraq helps Iran to evade sanctions

Translation / Baghdadiya News / .. Reuters reported, quoting the New York Times in its report that Iraq helps Iran to circumvent the economic sanctions imposed on it by its nuclear program, through the use of a network of financial institutions and oil smuggling operations to ensure that Tehran's flow of hard currency, benefiting some Iraqi officials.
In some cases, some of the turns a blind eye to Iraqi officials trade with Iran while others benefit from these activities.

The newspaper pointed out that "President Barack Obama had pointed to this problem when they were preventing a small bank called Elaf Bank Islamic from any dealings with the U.S. banking system at the same time in which the President that the bank does conduct transactions worth millions of dollars with Iranian banks that are subject to sanctions ".

Experts said bankers Iraqis that "the bank is still involved in the daily auction of Central Bank of Iraq, which could be of commercial banks to sell Iraqi currency and buy the dollar., And U.S. officials said management Obana not enter confront openly with the Iraqi government, but they held secret talks with Iraqi officials complained to them Several cases of financial and logistical links Iraqi and Iranian. "

A member of parliament Ali Alsjeri "We want to question the central bank and the banks that are involved in this process," and expressed concern that the huge dollar remittances threaten the Iraqi economy through the depletion of its reserves of hard currency.


http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http%3A%2F%2Fwww.albaghdadia.com%2F