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Cablegate: Swedish Response to Usg Questions On Bank Sepah

VZCZCXRO7935
OO RUEHAG RUEHAST RUEHBC RUEHDA RUEHDE RUEHDF RUEHDIR RUEHFL RUEHIK
RUEHKUK RUEHKW RUEHLA RUEHLN RUEHLZ RUEHPOD RUEHROV RUEHSR RUEHVK
RUEHYG
DE RUEHSM #1445 3441537
ZNR UUUUU ZZH
O 101537Z DEC 07
FM AMEMBASSY STOCKHOLM
TO RUEHC/SECSTATE WASHDC IMMEDIATE 2973
RUEATRS/DEPT OF TREASURY WASHDC IMMEDIATE
INFO RUEHZL/EUROPEAN POLITICAL COLLECTIVE IMMEDIATE
RUCNIRA/IRAN COLLECTIVE IMMEDIATE
RUCNSFT/TERRORISM FINANCE PRE NOTIFICATION COLLECTIVE IMMEDIATE
RUCNDT/USMISSION USUN NEW YORK IMMEDIATE 0258

UNCLAS STOCKHOLM 001445

SIPDIS

SIPDIS

DEPARTMENT FOR ISN/CPI (MCGEEHAN), IO/PSC (SANDAGE)

E.O. 12958: N/A
TAGS: KNNP IR PREL PARM SW
SUBJECT: SWEDISH RESPONSE TO USG QUESTIONS ON BANK SEPAH

REF: SECSTATE 159967

1. Summary: Deputy Economic Counselor met with
Ambassador/Director General Andreas Ekman and Ladan Moghaddas
at the Swedish Inspectorate of Strategic Products (ISP)
November 29, 2007. Ekman commented that after the Government
of Sweden (GOS) notified the UNSCR 1737 Sanctions Committee
on November 9, 2007 of the intention to authorize payment of
contracts entered into prior to Bank Sepah's listing in Annex
I of UNSCR 1747, the Sanctions Committee contacted ISP and
requested more-detailed information about the nature of the
transactions, the parties involved and the manner in which
the unfrozen funds would be used. Ekman assured Econoff that
no payments had been authorized or made as of November 29.
End Summary.

2. The November 22 notification covered licenses to be issued
to the following payment beneficiaries: Volvo Construction
Equipment AB (wheel loader L190E and L120E3 and spare parts
for L120E3, L90/L120), Metso Minerals (Sala) AB (parts for a
ball mill), Seco Tools AB (inserts), Aromatic AB (Bandex for
a bakery), Syngenta Seed AB (Monogem sugar beet seeds),
Gislaved Folie AB (PVC ABS foil) and AB Sandik Coromant
(unspecified tools for hard materials). All transactions are
through Letters of Credit (L/C) from Bank Sepah to Svenska
Handelsbanken AB. All contracts were entered into prior to
the listing of Bank Sepah and ranged from December 3, 2005 to
Febuary 24, 2007.

3. The November 27 notification involved supplementary
information requested by the UNSCR Sanctions Committee and
covered licenses to be issued to Renault Trucks (Renault
engine and spare parts for SK26.12 city bus, Renault CKD city
bus without rear and front axles or engine, Renault VI E70XD
front axle and PX1141 rear axle, Renault S135-08 trucks; and
spare parts for Shahab Khodro buses); Nokia Corporation (BSS,
GSM mobile phone network equipment); Stora Enso Berghuizer
Paper (white wood-free copy paper quality standard ISO 98);
Volvo Construction Equipment International AB (L90 and L120
wheel loader parts); Billerud AB (Sackraft papaer quality
standard ISO 9001); AB Sandvik Process Systems (two Sandvik
1300C hardened and tempered carbon steel oven belts with both
ends prepared for overlap rivited joining, but only punched
and scribed rivets included); Alcad Aktiebolag
(Nickel-aluminum alkaline 1.2 volt cells - empty and
discharged with electrolyte in solid form); Syngenta Seeds AB
(Monogerm sugar beet seed of the Rhizomania resistant and
Rhizomania and Cercospora-tolerant variety: Dorotea treatment
TMTD Tachigaren, germination: 92 pct, purity 99 pct, size:
3.00-4.25 mm); and Metso Minerals (Wear and Protection) AB
(Lower counterweight assy, eccentric support ring, o-ring 250
62.0, spider bushing oil sea scraper LUJ/75. All
transactions are through Letters of Credit (L/C) from Bank
Sepah to Skandinaviska Enskilda Banken SEB. All contracts
were entered into prior to the listing of Bank Sepah and
ranged from April 4, 2005 to Febuary 12, 2007.

4. Comment: Ekman and Moghaddas emphasized the importance of
closely monitoring financial transactions with Iran, assuring
Econoff that the GOS utilizes the same safeguards employed by
Great Britain to comply with Financial Action Task Force
(FATF) guidance. Ekman also opined that the European Union
(EU) was moving "far too slowly" in drafting new legislation
to cover brokering, which is not prohibited under existing EU
and Swedish laws, and hinted that the GOS might move
unilaterally in 2008 to introduce new Swedish legislation.
Post will continue to monitor the situation and report
additional conversations with the ISP septel.
WOOD

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