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Turkey rejects US bank request on Iran

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    Turkey rejects US bank request on Iran Thu, 31 Jan 2008 http://www.presstv.ir/detail.aspx?id=41099§ionid=351020101 A Turkish official has refused a US
    Message 1 of 1 , Feb 1, 2008
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      Turkey rejects US bank request on Iran
      Thu, 31 Jan 2008
      http://www.presstv.ir/detail.aspx?id=41099§ionid=351020101


      A Turkish official has refused a US request to scrutinize and then
      suspend the activities of the Turkey-based Iran's Bank Mellat.

      "What binds Turkey are the resolutions of the UN and not US
      presidential decrees or Congressional decisions," a Turkish diplomat
      told the Turkish Daily News.

      US officials have told bankers around the world that Iran is funding
      terrorists and seeking nuclear technology. Banks such as UBS AG and
      Deutsche Bank AG have responded by ending - or severely reducing -
      their business with Iran.

      However, in Ankara US requests have not been responded to in a similar
      way, according to officials.

      Stating that foreign banks operate according to the regulations set by
      the current Banking Law and are inspected periodically, the official
      underlined that the conditions of suspending one bank's operations are
      clear.

      "Obviously we cannot move upon a third party's requests," he said.

      Although some banks in Europe and Japan have bowed to US pressure, a
      host of analysts and diplomats believe that the move has proved futile.

      They opine that the Bush administration's controversial policy of
      slapping sanctions on Iranian banks is facing a critical challenge, as
      financial institutions in Russia, China, and much of the Middle East
      have declined to cut ties with Iranian banks.

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