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Hamburg-based Iranian bank to be blacklisted

The Local · 13 May 2011, 15:56

Published: 13 May 2011 15:56 GMT+02:00

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The decision to include the European-Iranian Trade Bank (EIH) on the European Union's blacklist "for its role in (Iranian) illegal activities" is expected to be taken by the community's foreign ministers at a meeting on May

23, the official told AFP on condition of anonymity.

"Evidence pointing to the EIH's involvement in (nuclear) proliferation has multiplied and become tangible," the official said, adding that "from the German government's point of view, conditions have been met" for a ban "and

this is also the consensus at the European level."

International sanctions have been slapped on Iran in an attempt to prevent it from developing nuclear weapons. Tehran denies it wants nuclear weapons.

Citing unnamed Western officials, the Wall Street Journal last year said the EIH bank had done more than a billion dollars of business on behalf of firms subject to US, UN and EU sanctions.

The UN Security Council slapped a fourth set of sanctions against Iran in June for refusing to halt its uranium enrichment work, the most sensitive part of Tehran's atomic drive.

These authorise states to conduct high-seas inspections of vessels suspected of ferrying banned items to Iran and added 40 entities to a list of people and groups subject to travel restrictions and financial sanctions.

The Journal said that EIH's business partners include units of Iran's Defense Industries Organization, the Aerospace Industries Organization and the Iranian Revolutionary Guard Corps.

In 2009, EIH appears to have been involved in a broad sanctions-evasion scheme, conducting transactions on behalf of Iran's Bank Sepah that has been

Story continues below…

sanctioned for facilitating Iran's weapons trade and proliferation activities, the US paper said.

EIH was founded by a group of Iranian merchants in Hamburg in 1971. It operates openly under the supervision of German bank regulators, but the US Department of Treasury had earlier blacklisted it for alleged illicit business with Iran.

AFP/The Local/djw

The Local (news@thelocal.de)

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Your comments about this article

18:08 May 13, 2011 by DOZ
If you don't want Iran to have Nukes then the World should destroy theirs. Very Simple.
18:27 May 13, 2011 by Englishted
Oh I know lets trust Iran to get rid of there weapons but we will go first(and I mean that in every sense) oh sorry I mean Israel would go first.
21:01 May 13, 2011 by bernie1927
Let me get this straight: Iran is not to have nuclear weapons because it is a terrorist state, right? What terrorist acts has it committed? What about Israel? That is a terrorist state and it has lots of nuclear weapons, and it has threatened Iran many times? Should Iran not have the right to defend itself? Would it not be much easier to require Israel to give up their weapons first? Not that they would be defenseless. The US would only be too happy to "help" out anyway. Maybe Iran would then be perfectly willing to abide. Daw
21:25 May 13, 2011 by whpmgr
bernie1927: I think the German Intelligence should be paying you a visit. 1: Israel has shown restraint, they have been attacked, and out numbered, you may not remember the two wars where the middle east came down on Israel like fire from hell-only to be beaten back conventionally, even though they did have nukes then. You take the side of a people who took hostages, helped facilitate the Berlin Disco Bombing, along with Libya and North Korea and East Germany Stasi? You take the side of a country that took an entire embassy hostage? When did Israel do any of this? Sure they have assassinated soem people around teh world, but not without reason, nor without controlling their kill squads- only the people they wanted dead were. Also, Iran has taken its war against thewest to an ultimate level by paying for and helping terrorist organizations to organize, and arm, and move secretly with Iranian Passports, and with logistical support to attack various of its state enemies.

You take the side of a country that brings instability in its region against a country that has just tried to get along and exist, after the world turned its back on its people and allowed millions to be killed. Of course, you will tell me that the Hollocaust never happened, and so I am crazy. You are not a straight thinking person and I think your gene pool should be eliminated from the world's pool. Maybe sterilization would be best for you?

Deterrence works for people with restraint. Iran has shown little and an ability and innate willingness to not restrain itself. Hell it is on the verge of collapse, seen the articles about Witchcraft practice and arrests? They should never have weapons since their Allah is more important than anything else, and they would destroy for him.
21:48 May 13, 2011 by Englishted

Started with a good and correct argument.

Why lower yourself with personal insults you had said enough.
22:41 May 13, 2011 by Eastard
It is frustrating to hear the denial of actions by jihadists... I guess its from the Joseph Gerbell book on 'telling a big lie often enough peoiple will believe it". There is more than an ocean that seperate Iran from the civilized world...No one has figured out how to frighten them into leaving the world alone... No one trusts them... not even their own people... It will take more than sanctioning a bank to get their attention...

I agree with the lack of value for commentor attacks...
23:27 May 13, 2011 by bernie1927

I am sorry if I offended you but I am not going to stoop to your level. Read my comment again and you will not find anything insulting. Please read this very interesting article from people who should know. I know it is a commentator of Pravda, who wrote the article but, just the same, give it your known and honest and even-tempered attention anyway. It makes my point better than I can do it.


As for the holocaust, I am as disgusted about it as you seem to be.

00:02 May 14, 2011 by whpmgr
bernie1927: I apologized at the end for my rant, and I do not mean to drag conversation down to the lowest common denominator, like, Oh yeah, or says, you, or even...Sticks and Stones...So let me first apologize for going to the gutter.

Your article by Pravda, has a few mistakes in it. We won't even go with their grammatical ones. But lets not digress further. Israel was attacked by Syria and Egypt and only sought to keep the status quo. When they could not protect heir borders, they took land, gave it back, and took more again. They have not stated publicly that they wish to end the Syrian or Palestinian states (but then again, palestine does not yet have a state) or even end the Persian/Iranian state. But, those three refuse to accept Israel's sovereignty and existance. Now, if we talk about supporting the Shah, And not Komeni, I tell you that every country will change their support based on how a particular regime sees that ocuntry. Since Iranian leaders have talked about the total demise of the Israeli people, it is hard to lump them in with the Israelis- they are not even two different sides of the same coin. As you stated, Israel did have a few wars, they had the Bomb and didnt use it, and they were outnumbered by over 5 to one in tanks and planes. They had older technology left by the brits, the centurians, and the other side had top notch T-72s and other top Russian planes.

Of course, the Pravda article does support the Russian government and Pravdais, indeed, in their pocket so their article must be taken with a grain of salt and one can easily understand why their slant is somewhat explanatory of the Iranian side.

So I offer you an olive branch and ask that you allow me to bring things back to focus and remove the adolescent namecalling from the call.
00:19 May 14, 2011 by bernie1927
whpmgr. I accept the olive branch. You probably sense that I do not have too good an opinion of the Israelis, yet I really should not say that. It is Netanyahoo and the extreme religious groups that I dislike and the fact that Israel is bleeding us dry with their constant demands. I think it would be better if they were made to understand that there comes a time when they should sink or swim, i.e. find some sort of accommodation with their neighbors. Right now they have no incentive to do so, because we are always there to save their necks. As for Iran's rhetoric, don't you think that that is more or less political and a lot of hot air? If the Arabs were united like they used to be under Nasser, maybe then we would have peace. I know, wishful thinking !!
10:51 May 14, 2011 by KEM
@bernie1927 : ¦quot;You probably sense that I do not have too good an opinion of the Israelis, yet I really should not say that. It is Netanyahoo and the extreme religious groups that I dislike and the fact that Israel is bleeding us dry with their constant demands.¦quot;

You can say whatever you want! Finally i see someone (specially an American) who has a different opinion from the other media brain washed ppl out there.

@whpmgr: although i¦#39;m pretty sure you¦#39;ll come back at me with insults for having a different opinion. Well i would like to make some points clear for you, cause it seems that you only look at the matter from one side.

Israel want their God promised land back! The land that goes across Jordan, Lebanon, Syria, and Palestine! According to Torah this was a God-given land to the Jews, and they have been trying to get it back in the last century. So i think that wearing suits and ties doesn¦#39;t make them less fanatic than those with funny hats and beards.

As for terrorism, if we look at the crimes Israel has been committing in the area for years, well the list is too long. The Qana massacre in south of Lebanon 1996 (google it), the innocent 12 year old Muhammed al Dura who was shot dead by an israeli sniper in the arms of his father, the daily new settlements and terrorizing of Palestinian people. So please! Stop depicting them as the one and only victims in the world! If they suffered at some point through history is doesn¦#39;t give them the right to make others suffer every day. But i guess you won¦#39;t know what the others are suffering if you get the biased news. Besides there were many other people who suffered across history, one example is the Armenian genocide, in which more than and a million were killed. We don¦#39;t see that Armenians went and occupied a country and are killing it¦#39;s people every day... some people haven¦#39;t even heard of that genocide.

So the Israelis are not always the victims! How can they be victims when they get over 3 billion dollar of military aid from the US every year? And they are the only ones who have nuclear weapons in the area which btw we thank them very much for ¦quot;showing restraint¦quot; as you say and not using it! Maybe you think they should have used it? Oh yeah why not! Maybe they should have used it and relieved the world from the worthless human beings that live in that area. But don¦#39;t worry! They used enough phosphorous bombs and all types of illegal weapons in their 2006 war in Lebanon. I¦#39;m sure you have no idea that happened. Well i have! cause i was there! And i saw what they used and did!
16:00 May 14, 2011 by HANNIBAL-BARCA
Attempts by the commentators to remain civil are decent. Nevertheless it is clear we don't live in a civil world no matter how much pretense we put forth otherwise.

As Germany is a sovereign nation they have every right to close a foreign national bank in Germany. Iran as well has every right to develop peacful nuclear power if it so chooses. The West in particular or even the U.N. has not the right to prevent this except under the code of the law of jungle where might makes right.

It is only the law of jungle that gives Israel the right to exist. It is an unfortunate situation for the Palestinians that there rightful land was stolen from them under the gross pretext of a fairytale, i.e., the bible the torah.

But might makes right is the way of our uncivilized world, check Lybia for latest example of Western Domination by force.
03:37 May 15, 2011 by FredFinger
Check Libya for an example of a dictator who is finally getting what he had coming to him for a very long time. It seems as if Pan Am 103 is about to be avenged.
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