UANI Calls on Bank of Japan to Freeze $10 Billion Portfolio It is Holding on Behalf of Central Bank of Iran

September 9, 2013

FOR IMMEDIATE RELEASE
September 9, 2013 
Contact: Nathan Carleton, [email protected] 
Phone: (212) 554-3296

UANI Calls on Bank of Japan to Freeze $10 Billion Portfolio It is Holding on Behalf of Central Bank of Iran

Asks BOJ to Clarify Full Nature and Extent of Relationship with CBI

New York, NY - On Monday, United Against Nuclear Iran (UANI) called on the Bank of Japan (BOJ) to freeze assets it is holding for the Central Bank of Iran (CBI).

The CBI is blacklisted by the U.S. and EU for its role in financing and supporting Iran's terrorism and nuclear program. UANI understands that the BOJ is holding a portfolio for the CBI of approximately $10 billion.

UANI and the BOJ have corresponded over the past months regarding the BOJ's CBI portfolio, however the BOJ has not taken substantive action with respect to the assets.

UANI is therefore publicly calling on the BOJ today to take action, including freezing the CBI accounts it is holding, and preventing any liquidation, withdrawal, change in ownership, or other action that would benefit the CBI or other Iranian financial institutions or entities.

In a letter to BOJ Governor Haruhiko Kuroda, UANI CEO, Ambassador Mark D. Wallace wrote:

... UANI understands that the BOJ is holding a portfolio for the CBI totaling upwards of approximately $10 billion. UANI has detailed information concerning the CBI portfolio, which reportedly includes non-matured, yen-denominated Japanese Government Bonds valued in the billions of dollars, in addition to other deposits totaling billions of dollars.

As you are surely aware, in 2012 the U.S. designated the entire Iranian banking sector, including the CBI, as a terror and proliferation financing and money laundering risk, and imposed sanctions penalizing foreign financial institutions doing business with Iran's central bank. In addition, the international community has taken a variety of actions in recent years to sever Iranian financial institutions, including the CBI, from the international banking system. These actions were part of a comprehensive global strategy to isolate the Iranian regime in response to its continued pursuit of a nuclear weapon, support for terrorism and ongoing human rights abuses. Any financial institution participating in, transacting in any way, or holding or transmitting funds with or on behalf of Iran, is undermining this global effort.

UANI is therefore highly concerned by the BOJ's apparent ongoing maintenance of substantial CBI assets in contravention of both U.S. policy, and the efforts of the international community to isolate Iran's banking sector. In order to confirm that the BOJ has not become a safe haven for Iranian assets, UANI is calling on the BOJ to immediately clarify its policy and intentions with respect to any assets it holds on behalf of the CBI or any other Iranian financial institution, and to provide a detailed description of any such assets including the amount and asset type.

UANI further calls on the BOJ to commit to preventing any liquidation, withdrawal, change in ownership or any other action that could enable the withdrawal, transfer and/or liquidation of such assets for the benefit of the CBI or other Iranian financial institution or entity. ...

Click here to read the full text of UANI's letter to BOJ.

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