UANI

"Several other banks - including Deutsche Bank, Germany's second biggest lender Commerzbank, UniCredit's German unit HVB, and French banks BNP Paribas and Credit Agricole - have said they have received inquiries from U.S. authorities or are reviewing transactions to check whether they are potentially in breach of U.S. sanctions, suggesting any investigations are at an early stage." (Reuters, "Analysis: StanChart hit may not dog other banks as much as feared," 9/4/2012)

--

"President Barack Obama signed into law new sanctions on Iran that, for the first time, will bar from the American market foreign companies that work with Iranian businesses charged with aiding Tehran's nuclear program and the suppression of democracy.

Among those that could face legal challenges and fines are Japan's Big Three banks—Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group and Mizuho Financial Group Inc.—as well as European firms such as Commerzbank Bank AG and Deutsche Bank AG, all of whom have businesses inside Iran.

A spokesman for Commerzbank declined to comment on the effect of the law, saying the bank wasn't familiar with its details. He said Commerzbank has been reducing its exposure to Iran since 2007.

A recent report by Avi Jorisch, a former Treasury Department intelligence official, details how the Big Three Japanese banks, Deutsche Bank and Commerzbank continue to maintain bank accounts for Bank Sepah, Iran's oldest financial institution.

Bank Sepah has been blacklisted by both the U.N. and the U.S. in recent years for its alleged role in assisting Tehran's development of weapons of mass destruction.

Spokesman Reiner Rossman declined to comment on any relationship Commerzbank had or has with Bank Sepah."

(Wall Street Journal, "U.S. Adds Its Own Sanctions on Iran," 7/2/2010)

--

"Another step the Obama administration should take is to sustain American pressure on foreign banks and oil companies to halt their dealings with Irans energy sector. This effort has led such major firms as Germanys Deutsche Bank and Commerzbank, Englands HSBC, Credit Suisse and Royal Dutch Shell to halt or limit their business with Iran." (The Baltimore Sun, "FACING THE IRANIAN THREAT," 12/9/08)

--

"U.S. outreach to foreign banks and to oil companies considering investing in Irans energy sector has reportedly convinced more than 80 banks and several major potential oil-field investors to cease all or some of their business with Iran. Among them: Germanys two largest banks (Deutsche Bank and Commerzbank), London-based HSBC, Credit Suisse, Norwegian energy company StatoilHydro, and Royal Dutch Shell."(The Wall Street Journal, "How To Put The Squeeze On Iran," 11/13/08)

--

"European giants HSBC, Deutsche Bank and Credit Suisse have pulled out of Iran while BNP Paribas, Commerzbank and Dresdner Bank have severely curtailed their business with the Islamic republic." (Gulf Daily News, "US imposes sanctions on major Iran banks," 10/26/07

--

"GIANTS WITH A FOOT IN TEHRAN: Total, Shell, Statoil, BNP Paribas, Commerzbank, MTN, UPS, Linde, Technip, Nokia, Ericsson, Peugeot, Renault, OMV, Societe Generale, ENI, Mitsubishi, Sumitomo, Siemens, LG, Samsung, Bosch, Valeo, Nestle, Unilever, BAT, Japan Tobacco." (The London Times, "American pressure threatens UK firms,"  5/27/06)