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Cablegate: Court Orders Transfer of Iraq Nation Bank Funds To

This record is a partial extract of the original cable. The full text of the original cable is not available.

301402Z Jan 04

UNCLAS ZAGREB 000185

SIPDIS


SENSITIVE

STATE FOR EB/ES/TSP, IO/PHO AND L/EB

E.O. 12958: N/A
TAGS: EFIN PREL IZ HR
SUBJECT: COURT ORDERS TRANSFER OF IRAQ NATION BANK FUNDS TO
DEVELOPMENT FUND FOR IRAQ

REF: A. 03 ZAGREB 2408

B. 03 STATE 291321

SENSITIVE BUT UNCLASSIFIED -- PLEASE HANDLE ACCORDINGLY.

1. (U) THE COUNTY COURT OF ZAGREB SENT THE EMBASSY A COPY OF
ITS DECISION, DATED JANUARY 27, ORDERING THE TRANSFER OF
FUNDS FROM THE ACCOUNT OF THE CENTRAL BANK OF IRAQ IN
PRIVREDNA BANKA ZAGREB TO THE DEVELOPMENT FUND FOR IRAQ.
ACCORDING TO THE RESOLUTION, THE FUNDS ARE TO BE TRANSFERRED
VIA FEDWIRE TYPE CODE 15 THROUGH FRBNY (PRESUMABLY FEDERAL
RESERVE BANK, NEW YORK) ABA ROUTING NUMBER 0210-8677-3 IRAQ
DEVELOPMENT FD.

2. (SBU) WHILE WE HAD BEEN ASSURED IN NOVEMBER BY THE
MINISTRY OF FOREIGN AFFAIRS AND THE FINANCIAL INTELLIGENCE
UNIT WITHIN THE MINISTRY OF FINANCE THAT A REQUEST TO THE
COURT TO TRANSFER THE FUNDS WOULD BE COMPLETED "WITHIN A WEEK
OR SO," IT APPEARS THAT THE STATE ATTORNEY'S OFFICE DID NOT
WRITE TO THE COURT UNTIL JANUARY. ONCE AGAIN THE MINISTRY OF
FOREIGN AFFAIRS HAD TO DRAFT A LEGAL OPINION ESTABLISHING THE
BASIS FOR THE SEIZURE AND TRANSFER OF FUNDS. THE MFA ARGUED
THAT, SINCE CROATIA WAS A SIGNATORY TO THE UN CHARTER AND
CROATIA'S CONSTITUTION STATES THAT INTERNATIONAL AGREEMENTS
BECOME LAW UPON CROATIA'S RATIFICATION OF THOSE AGREEMENTS, A
UNSC RESOLUTION HAS THE FORCE OF LAW IN CROATIA. THIS IS THE
ARGUMENT THAT WAS SUCCESSFULLY USED TO FREEZE
TERRORIST-RELATED ASSETS LAST YEAR. OUR CONTACTS TELL US
THAT WHEN CERTAIN AMENDMENTS TO CURRENT LAW ARE ADOPTED WHICH
EXPLICITLY STATE THAT UN RESOLUTIONS BECOME DOMESTIC LAW, THE
ASSET SEIZURE PROCESS SHOULD BECOME SIMPLER AND FASTER.
FRANK



NNNN

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