UANI Issues Statement Regarding Standard Chartered's Reported Settlement on Iran Sanctions Violations

   

FOR IMMEDIATE RELEASE August 14, 2012 Contact: Nathan Carleton, press@uani.com Phone: (212) 554-3296   UANI Issues Statement Regarding Standard Chartered's Reported Settlement on Iran Sanctions Violations UANI Calls for "Zero Tolerance" and "Death Penalty" for Institutions that Violate Iran Sanctions [Click here to watch Ambassador Mark D. Wallace discuss Standard Chartered and Iran sanctions today on CNBC's "Power Lunch'] New York, NY - United Against Nuclear Iran (UANI) CEO, Ambassador Mark D. Wallace, issued the following statement Tuesday regarding reports that Standard Chartered Bank reached a settlement with New York regulators over its sanctions violations in Iran: We applaud New York officials for taking regulatory taking action against Standard Chartered. Yet, given the reports of Standard Charter's egregious actions the penalty should have been more severe. This action should serve as a notice that any financial institution that engages in business with Iran will face grave regulatory consequences. We call on all U.S and state regulatory officials to adopt a zero-tolerance policy going forward. Any financial institution that is found to be in violation of Iran sanctions should receive the financial equivalent of the death penalty and lose its license to do business in the United States. In May, UANI announced that Standard Chartered had agreed to end its business in Iran following discussions with the UANI, a development covered by the Wall Street Journal. Since then, Standard Chartered's violations of sanctions in Iran have come to light, and UANI has called for Standard Chartered to be held to account for its illicit Iran business activities. Today, Ambassador Wallace appeared on CNBC's "Power Lunch," and called on regulators to impose the financial "death penalty" on Standard Chartered. Click here to watch Ambassador Wallace appear on today's CNBC's "Power Lunch." ###                                                                        United Against Nuclear Iran (UANI) is a program of the American Coalition Against Nuclear Iran, Inc., a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code. The prospect of a nuclear-armed Iran should concern every American and be unacceptable to the community of nations. Since 1979 the Iranian regime, most recently under President Mahmoud Ahmadinejad's leadership, has demonstrated increasingly threatening behavior and rhetoric toward the US and the West. Iran continues to defy the International Atomic Energy Agency (IAEA) and the United Nations in their attempts to monitor its nuclear activities. A number of Arab states have warned that Iran's development of nuclear weapons poses a threat to Middle East stability and could provoke a regional nuclear arms race. In short, the prospect of a nuclear armed Iran is a danger to world peace. United Against Nuclear Iran (UANI) is a non-partisan, broad-based coalition that is united in a commitment to prevent Iran from fulfilling its ambition to become a regional super-power possessing nuclear weapons.  UANI is an issue-based coalition in which each coalition member will have its own interests as well as the collective goal of advancing an Iran free of nuclear weapons. The Objectives of United Against a Nuclear Iran Inform the public about the nature of the Iranian regime, including its desire and intent to possess nuclear weapons, as well as Iran's role as a state sponsor of global terrorism, and a major violator of human rights at home and abroad; Heighten awareness nationally and internationally about the danger that a nuclear armed Iran poses to the region and the world; Mobilize public support, utilize media outreach, and persuade our elected leaders to voice a robust and united American opposition to a nuclear Iran; Lay the groundwork for effective US policies in coordination with European and other allies; Persuade the regime in Tehran to desist from its quest for nuclear weapons, while striving not to punish the Iranian people, and; Promote efforts that focus on vigorous national and international, social, economic, political and diplomatic measures. UANI is led by an advisory board of outstanding national figures representing all sectors of our country.

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