Cablegate: Italy to Alert Private Sector Entities to Usg

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PP RUEHBC RUEHDE RUEHDIR RUEHKUK RUEHTRO
DE RUEHRO #1264 3201506
ZNR UUUUU ZZH
P 161506Z NOV 09
FM AMEMBASSY ROME
TO RUEATRS/DEPT OF TREASURY WASHDC PRIORITY
RUEHC/SECSTATE WASHDC PRIORITY 2894
INFO RUCNIRA/IRAN COLLECTIVE PRIORITY

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PLEASE PASS TO APPROPRIATE CONTACT AT: T, TREASURY, EAP,
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E.O. 12958: N/A
TAGS: EFIN IR IT KNNP PARM
SUBJECT: ITALY TO ALERT PRIVATE SECTOR ENTITIES TO USG
DESIGNATION OF MALAYSIAN BANK AND BANK MELLAT CHAIRMAN

REF: STATE 115135

1. (SBU) SUMMARY. An official in the Italian Ministry of
Economics and Finance (MEF) stated that she will advise
private sector institutions of the USG designation, under
Executive Order 13382 (reftel), of First East Export Bank
(FEEB) of Malaysia, and of the Chairman of Bank Mellat of
Iran, and will warn of the potential consequences of
conducting business with designated entities. END SUMMARY

2. (SBU) On 13 November, ECONOFF conveyed to a MEF official
notification that the USG has designated a subsidiary of Bank
Mellat, and Ali Divandari (Chairman of Bank Mellat of Iran),
and reminded the official that entities found to be
conducting business with designated individuals or entities
may themselves be subject to designation.

3. (SBU) The MEF official stated that the Ministry will issue
a warning to alert the private sector about the USG
designations, and will advise them to "exercise enhanced due
diligence" when conducting business or financial transactions
with any Iranian intermediary.

THORNE

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