[email protected]; [email protected]; [email protected] (Peter Grieff, International Media); [email protected] (Angela Roche, International Media); [email protected] (Andrew Gully, Senior Vice President/Managing Director of Corporate Affairs, Sovereign Bank)
SAMIH affiliate—Santander U.K. plc—held savings accounts for two SDNs during the year, even as it noted that SAMIH’s activity does not relate to any activity conducted by Laredo or Laredo’s affiliates. (SEC Disclosure)
Santander is "the third largest bank in the world in terms of profits." In 2008, the Santander Group acquired the US-based Sovereign Bank. (Company Website)
Banco Santander is also part of the Royal Bank of Scotland led consortium that owns ABN AMRO, which reportedly has done business with Iran. (ABN AMRO Company Website)
"In July 2007, it was reported that Santander “was doing business with Teheran-based Sepah as recently as March … Trading with businesses that are blacklisted for alleged links to terrorism is a serious breach of US law and can have draconian consequences...Santander is thought to have opened accounts for Sepah in various European countries and in Teheran. Allegations have also been made that Santander had a banking relationship with another Iranian bank that the US is targeting for its alleged links to terrorists. Santander said: ‘Neither of these institutions has an open account with Santander.’ The Spanish bank appears to have ended its relationship with Sepah after March. No details are known about the nature of its contact with the other bank.
Santander said: ‘Banco Santander is confident that it complies with all relevant banking regulations in the territories in which it operates, and with international requirements placed on banks, including those concerning money-laundering and the financing of terrorism.’ Sepah, which is owned by the Iranian state, was placed on the US blacklist in January. At the time, Stuart Levey, under-secretary for terrorism and financial intelligence, said: ‘Sepah is the financial linchpin of Iran's missile procurement network and has actively assisted Iran's pursuit of missiles capable of carrying weapons of mass destruction.’" (The Daily Telegraph, "Santander Traded with Blacklist Iranian Bank," 7/23/07)