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Cablegate: Usg Questions On Sweden November 9 Notice On Bank

VZCZCXYZ0010
OO RUEHWEB

DE RUEHC #9967 3301538
ZNR UUUUU ZZH
O 261527Z NOV 07
FM SECSTATE WASHDC
TO RUEHSM/AMEMBASSY STOCKHOLM IMMEDIATE 0000
RUCNDT/USMISSION USUN NEW YORK IMMEDIATE 0000

UNCLAS STATE 159967

SIPDIS

SIPDIS

E.O. 12958: N/A
TAGS: KNNP IR PREL PARM
SUBJECT: USG QUESTIONS ON SWEDEN NOVEMBER 9 NOTICE ON BANK
SEPAH

REF: A. A) NOTE VERBALE

B. 9 NOVEMBER 2007

1. (U) This is an action request. Please see paragraph 3.

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

2. (U) On 9 November, Sweden 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
Sweden 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
and with recent Financial Action Task Force guidance on
financial sanctions against a financial institution
designated under UNSCRs related to WMD proliferation.


3. (U) In accordance with paragraph 15 of UNSCR 1737 and
paragraph 4 of 1747, Sweden may authorize these payments as
early as November 23. We wish to immediately convey our
request to the GOS, prior to the payment of any funds, and
ask the GOS to delay authorization or withdraw its
notification until more information is provided on the
contracts and the nature of the transactions for which the
unfrozen funds will be used.

4. (U) FATF guidance regarding Bank Sepah can be found at
the following web address:
http://www.fatf-gafi.org/dataoecd/23/16/39318 680.pdf

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

5. (U) Washington requests Mission approach appropriate
Swedish government officials to discuss this issue drawing
from paragraphs 2 and 3 and the objectives outlined below.

-- To ensure that the payments and underlying contracts
referenced in Sweden's November 9 Note Verbale meet the terms
of paragraph 15 of UNSCR 1737; in particular that the
contracts were entered into before Bank Sepah's listing and
do not relate to dual-use materials that could be captured
under paragraphs 3 or 4 of that resolution.

-- To ask for additional details - prior to the payment of
any funds - about:

---- The payments that will be made under this notification,
such as the payment beneficiaries, the type of contract
involved, the dates the contracts were entered into, the date
or dates of legal obligations to pay, and the amount of money
(and type of currency) that is owed;

----- Whether these payments will be made under discretionary
facilities, such as overdrafts or revolving facilities, that
could constitute new banking business with Bank Sepah and
would be inconsistent with recent guidance from FATF;

---- The services that have been or will be rendered under
the prior contracts, and when payment is due for those
services;

---- The types of goods involved and if these prior
contracts involve the shipment of goods to Iran; and

---- The source of the funds that will be used to pay these
prior contracts, and whether funds will be transferred into a
Swedish account of Bank Sepah, and if so, at which bank.

---- The safeguards Sweden has in place, consistent with
recent FATF guidance, to ensure that only permitted payments
are made and to prevent new banking business with Bank Sepah.


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

6. (U) Mission should report results by November 30.
Please slug replies for ISN, IO, T, TREASURY, EUR and NEA.
Please include SIPDIS in all replies.

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

7. (U) Washington point of contact for follow-up
information is Kevin McGeehan, ISN/CPI, (202) 647-5408,
McGeehanKJ@state.sgov.gov and John Sandage, IO/PSC, (202-
736-7739, SandageJB@state.gov.

8. (U) Department thanks Posts for its assistance.
RICE

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