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Kirk Menendez

Kirk Menendez

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Published by Josh Rogin

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Published by: Josh Rogin on Nov 29, 2011
Copyright:Attribution Non-commercial

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05/19/2013

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S.L.C.
.AMENDMENTNO._CalendarNo.
---
Purpose:TorequiretheimpositionofsanctionswithrespecttothefinancialsectorofIran,includingtheCentralBankofIran.
INTHESENATEOFTHEUNITEDSTATES-112thCong.,1stSess.
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SEC.1243.IMPOSITIONOFSANCTIONSWITHRESPECTTO
4
THEFINANCIALSECTOROFIRAN.
S
(a)FINDINGS.-Congressmakesthefollowingfind-6mgs:789(1)OnNovember21,2011,theSecretaryoftheTreasuryissuedafindingundersection5318Aoftitle31,UnitedStatesCode,thatidentifiedIran
 
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MARllB78
S.L.C.
2
1asajurisdictionofprimarymoneylaunderingcon-2cern.3(2)Inthatfinding,theFinancialCrimesEn-4forcementNetworkoftheDepartmentoftheTreas-5
ury
wrote,"TheCentralBankofIran,whichregu-6latesIranianbanks;'hasassisteddesignatedIranian7banksbytransferringbillionsofdollarstothese8banksin2011.Inmid-2011,theCBItransferred9severalbilliondollarstodesignatedbanks,including10Saderat,Mellat,EDBIandMelli,throughavariety11ofpaymentschemes.Inmakingthesetransfers,the12CBIattemptedtoevadesanctionsbyminimizingthe13directinvolvementoflargeinternational-bankswith14bothCBIanddesignatedIranianbanks.".15(3)OnNovember22,2011,theUnderSec-16retaryoftheTreasuryforTerrorismandFinancial17Intelligence,DavidCohen,wrote,"Treasuryiscall-18ingouttheentireIranianbankingsector,including19theCentralBankofIran,asposingterroristfinanc-20ing,proliferationfinancing,andmoneylaundering21risksfortheglobalfinancialsystem.".22(b)..DESIGNATIONOFFINANCIALSECTOROFIRAN23ASOFPRIMARYMONEYLAUNDERINGCONCERN.-The
fi-
24nancialsectorofIran,includingtheCentralBankofIran,25isdesignatedasofprimarymoneylaunderingconcernfor
 
MARllB78
S.L.C.
3
1purposesofsection5318Aoftitle31,UnitedStatesCode,2becauseofthethreattogovernmentandfinancialinstitu-3tionsresultingfromtheillicitactivitiesoftheGovernment4ofIran,includingitspursuitofnuclearweapons,support5forinternationalterrorism,andeffortstodeceiverespon-
6
siblefinancialinstitutions
and.evade
sanctions.7(c)FREEZINGOFAsSETSOFIRANIANFINANCIAL
8
INSTITUTIONS.-ThePresidentshall,pursuanttothe9InternationalEmergencyEconomicPowersAct(5010U.S.C.
1701
etseq.),blockandprohibitalltransactions11inallpropertyandinterestsinpropertyofanIranianfi-
12
nancialinstitutionifsuchpropertyandinterestsinprop-
13
ertyareintheUnitedStates,comewithintheUnited14States,orareorcomewithinthepossessionorcontrol
15
ofaUnitedStatesperson.16(d)IMPOSITIONOFSANCTIONSWITHRESPECTTO17THECENTRALBANKOFIRAN
AND
OTHERIRANIANFI-.18NANCIALNSTITUTIONS.-
19
(1)
INGENERAL.-Exceptasspecificallypro-20videdinthissubsection,beginningonthedatethat
21
is60daysafterthedateoftheenactmentofthis
22
Act,thePresident-23(A)shallprohibittheopeningormaintain-24ingintheUnitedStatesofacorrespondentac-
25
countorapayable-throughaccountbyaforeign
~
-
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