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Cablegate: Usg Questions On Uae January 31 Notice On Bank

VZCZCXRO7365
OO RUEHBC RUEHDE RUEHDIR RUEHKUK
DE RUEHC #4956 0442007
ZNR UUUUU ZZH
O 132005Z FEB 08
FM SECSTATE WASHDC
TO RUCNDT/USMISSION USUN NEW YORK IMMEDIATE 0601
INFO IRAN COLLECTIVE IMMEDIATE
RUEHAD/AMEMBASSY ABU DHABI IMMEDIATE 0045
RUEHDE/AMCONSUL DUBAI IMMEDIATE 7294

UNCLAS STATE 014956

SIPDIS

SIPDIS

E.O. 12958: N/A
TAGS: KNNP IR PREL PARM XF ZP AE
SUBJECT: USG QUESTIONS ON UAE JANUARY 31 NOTICE ON BANK
SEPAH

REF: A) NOTE VERBALE 31 JANUARY 2007

1. (U) This is an action request. Please see paragraph
four.

-------
SUMMARY
-------

2. (U) On 31 January, the UAE notified the UNSCR 1737
Sanctions Committee of its intention to authorize-under
paragraph 15 of UNSCR 1737-payments due under contracts with
Bank Sepah entered into prior to the listing of Bank Sepah in
Annex I of UNSCR 1747. Washington would like to request that
the UAE provide more information to the Committee and the
U.S. regarding these payments and the underlying contracts in
order to confirm that the authorization of such payments is
fully consistent with the terms of paragraph 15 of UNSCR 1737.

3. (U) In accordance with paragraph 15 of UNSCR 1737 and
paragraph 4 of 1747, UAE may authorize these payments as
early as February 14. We wish to immediately convey our
request to the UAE, prior to the payment of any funds, and
ask the UAE to delay authorization or withdraw its
notification until more information is provided on the origin
of money used to process these payments.

----------
OBJECTIVES
----------

4. (U) Washington requests Mission approach appropriate
Emirati officials to discuss this issue drawing from
paragraphs two and three and the objectives outlined below.

-- Inquire about the dates of the issuances of the letters
of credit to ensure that they were agreed before the listing
of Bank Sepah.

-- Ask for additional details - prior to the payment of any
funds - about the nature of the underlying goods to ensure
that the letters of credit are not related to any of the
prohibited items, materials, equipment, goods, technologies,
or related assistance that could be involved in
proliferation-related activities, as set out in resolution
1737.

-- Request information about the parties (including the
names and locations) involved in these transactions to
determine whether they have links to any UNSCR-sanctioned
entities or individuals.

-- Reiterate USG concerns regarding any financial
transactions with the UAE-based branches of Bank Melli and
Bank Saderat, encourage the UAEG to apply enhanced vigilance
in monitoring the activities of these banks, specifically
with UNSCR 1747/EO 13382 designated entity Bank Sepah.

-- Request that the UAE confirm that the funds to be
unfrozen and paid to the creditors are currently within the
UAE and, if not, to indicate the source of the funds.

------------------
REPORTING DEADLINE
------------------

5. (U) Mission should report results within seven (7)
business days of receipt of this cable. Please slug replies
for ISN, IO, T, TREASURY, and NEA/IR. Please include SIPDIS
in all replies.

----------------
POINT OF CONTACT
----------------

6. (U) Washington point of contact for follow-up
information is Kevin McGeehan, ISN/CPI, (202) 647-5408,
McGeehanKJ@state.sgov.gov.

7. (U) Department thanks Post for its assistance.
RICE

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