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Cablegate: Terrorist Financing: Spain's Ability to Freeze

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

UNCLAS MADRID 001816

SIPDIS

E.O. 12958: N/A
TAGS: PTER EFIN ECON PREL ETTC SP
SUBJECT: TERRORIST FINANCING: SPAIN'S ABILITY TO FREEZE
ASSETS

REF: STATE 108957

The GOS has independent administrative authority to freeze
assets linked to terrorism under Law 12/2003 on the
Prevention and Blocking of the Financing of Terrorism passed
in May 2003. However, the regulations to implement this law
have not been published, and no assets have been frozen under
this law as government officials are reluctant to use the
powers absent a regulatory framework. We have been pressing
Spanish officials about the regulations which we understand
will be presented to the new government this spring.
ARGYROS

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