Germany’s powerful central bank – Deutsche Bundesbank – passed a new financial policy that will effectively block the transfer of nearly $400 million in cash to the Iranian regime. This is a bank that was sanctioned in the past for helping Iran with its nuclear program.
It’s a big deal because Iran and the EU are still doing business despite the U.S. sanctions. This transfer of cash was a means of circumventing the U.S.-imposed restrictions. Iran uses the cash for terrorism — cash isn’t easily traceable.
U.S. Ambassador Rick Grennell, doing an amazing job
The policy appears to be a response to efforts by the U.S. ambassador to Germany, Rick Grennell. It is by no means an easy or small diplomatic accomplishment.
Angela Merkel could step in and transfer the cash. Merkel’s government is considered the most pro-Iran friendly European governments.
Last month, Ambassador Grenell urged Berlin to prevent Iran’s withdrawal of large sums of cash from German bank accounts. It was a way for Iran to circumvent U.S. sanctions that took effect following Washington’s withdrawal from the 2015 Iran nuclear deal.
BILD reported in July that Iran’s regime seeks to use the European-Iranian trade bank in the northern German city of Hamburg – with the approval of the German government – to transfer the nearly $400 million in cash to circumvent pending US sanctions.
Both Israel and the U.S. are concerned [justifiably] that the cash will be used to finance terrorism. Iran is the leading state sponsor of terrorism in the world.
— Shawn McKenzie 🇺🇸 (@SMcK17) August 2, 2018
The Jerusalem Post reported that an April German intelligence report from the state of Bavaria concluded that the Islamic Republic of Iran is working to turn its conventional military weapons into a system for weapons of mass destruction.