UANI Warns
International Companies and Officials in
Germany for Iran
Business Forum of Glaring Risks in
Full-Page Wall
Street Journal Europe Ad
U.S.
Sanctioned Iranian Banks Sponsor High-Level Banking and Business
Forum in Frankfurt
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UANI
Full-Page Notice in Wall
Street Journal Europe
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New York, NY - As the 3rd
Banking and Business Forum Iran Europe convenes in Frankfurt with the
goal of convincing businesses to invest in Iran, United Against
Nuclear Iran (UANI) is warning participants in a full-page
ad in the Wall Street Journal Europe of the ongoing
serious commercial risks in Iran, including the legal and regulatory
uncertainty surrounding the incoming Trump administration.
The Forum, which will be held November 16-17 during
the 19th Euro Finance Week, is co-hosted by Germany's
Maleki Communications Group and the Central Bank of the Islamic
Republic of Iran. Most concerning, the Forum is sponsored by three
banks that remain under U.S. sanctions: Saman Bank, Bank Hekmat, and
the notorious Bank Saderat, which has facilitated
the transfer of hundreds of millions of dollars to Hezbollah,
Hamas, and other terrorist organizations.
"The 3rd Banking and Business Forum
Iran Europe seeks to foster business deals with Iran despite severe
risks that continue to plague the country and the lack of change in
the regime's unruly behavior," said UANI Senior Advisor and
former Director of the Federal Intelligence Service of Germany Dr.
August Hanning.
"With the policy uncertainty surrounding a newly
elected U.S. administration and Congress, the aim of this event is
extremely shortsighted," added UANI Chairman and former U.S.
Senator Joseph I. Lieberman. "International banks and
businesses can find themselves losing market share - or worse - if
they are too fast to ink deals that may be lucrative in the
short-term, but carry long-term risk," said Lieberman.
The Forum's program includes panel topics such as
Financial Action Task Force (FATF) Requirements and Reconnecting to
the International Payment World - two areas which pose grave threats
to the global financial system. Just last June, the FATF announced
its decision
to keep Iran blacklisted due to concerns of illicit financial
activities and continued terrorist financing. Additional risks for
banks and businesses include:
- Banking
Risk: While
Iranian financial institutions remain locked out of the U.S.
financial system, the risk of financial penalties and fines for
violations remain for international banks. Since 2009, banks
have been hit with $15 billion in fines for violating U.S.
sanctions on Iran - including for inadvertently facilitating
money laundering transactions.
- Snapback
Risk:
Companies risk operating under the "snapback" of
economic sanctions due to violations of international law and
the revocation of the Joint Comprehensive Plan of Action
(JCPOA). Foreign businesses operating in Iran will experience an
uncertain legal and regulatory environment unless Iran
demonstrates long-term compliance with its JCPOA obligations.
- Islamic
Revolutionary Guard Corps (IRGC) Risk:
Companies entering Iran are faced with dealing with front
companies operated by the IRGC, a terrorist organization sanctioned
by the U.S. and international community. While doing business
with the IRGC is illegal, foreign managers are unable to discern
companies that are secretly operated, managed, and even owned by
the IRGC.
For more information, or to speak with UANI
leadership, please contact: press@uani.com.
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About UANI
UANI is an independent, not-for-profit, non-partisan,
advocacy group founded in 2008 by Ambassador Mark D. Wallace,
Ambassador Richard Holbrooke, former CIA Director Jim Woolsey, and
Middle East Expert Ambassador Dennis Ross, that seeks to heighten
awareness of the danger the Iranian regime poses to the world.
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