UANI Issues Statement on Standard Chartered's Iran Sanctions Violations, Calls for International Banking Blockade

FOR
IMMEDIATE RELEASE

August 6, 2012
Contact: Nathan Carleton, press@uani.com
Phone: (212) 554-3296    

 

UANI
Issues Statement on Standard Chartered's Iran Sanctions Violations,
Calls for
International Banking Blockade

 

New
York, NY -
On Monday, United Against Nuclear
Iran (UANI) issued the
following statement regarding Standard Chartered Bank's Iran sanctions violations:

 

In
May, UANI applauded Standard Chartered Bank for ending its
business in Iran, effective at the end of the first quarter of 2012,
and we
continue to do so. However, Standard Charter must be held to account
for its
previous illicit Iran business activities.

 

The
revelations this week of Standard Chartered's past activities
in Iran are disturbing. The substantial financial penalties proposed
for
Standard Chartered's collusion with the Iranian regime highlight the
severe
reputational and fiduciary risks of doing business with Iran and should
serve
as notice to all entities and financial institutions that they will be
held
accountable for their business with such an unscrupulous regime.

 

U.S.
lawmakers and regulators must ensure that all businesses and
financial institutions cease the provision of financial services to the
Iranian
regime by imposing an international banking blockade. We call on U.S.,
European
and international officials to sanction all Iranian banks and strictly
enforce
the banking provisions of existing sanctions such as CISADA, in order
to fully isolate
Iran from world markets.

 

In
May, UANI announced that Standard
Chartered had ended its
business in Iran following discussions with the bank, a
development covered by The
Wall Street Journal.

 

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