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US Sways Berlin over Iran Bank Service

Service : Economy
TEHRAN, April 6 (ICANA) – A spokesperson for the Indian Ministry of Treasury says Germany has stopped rendering banking services to Iran under the US duress.
Wednesday, April 06, 2011 2:01:34 PM
US Sways Berlin over Iran Bank Service

India is well aware that Berlin is keen on finding a constructive solution [for Iran's banking transactions in Germany], but it has to act under the US pressure, the unnamed Indian official told Der Spiegel.

The spokesperson, however, insisted that although New Delhi is considering other alternatives, it does not consider the problem as over yet, and it will go ahead with its negotiations with the central bank of the Federal Republic of Germany.

Since September 2010, when India's Central Bank stopped providing banking facilities for the purchasing of Iran's oil and gas, the country has been making its payments to Iran via a Hamburg-based mediator and the European-Iranian Trading Bank (EIHB).

However on Tuesday, the German media announced that Chancellor Angela Merkel is moving to end the involvement of the European country's central bank in oil payments between India and Iran, due to the US-sponsored sanctions imposed against the Islamic Republic over its nuclear activities.

This is while a German government spokesperson had previously announced that there were no legal grounds for halting the banking transactions.

Political observers say the move comes following the outcries of the Zionist-controlled German media prior to the Israeli Prime Minister Benjamin Netanyahu's visit to Germany on Thursday.

In July 2010, the European Union's foreign ministers approved unilateral sanctions against Iran, which target investment and technical assistance to the country's refining, liquefaction and natural gas sectors.

The punitive measure goes beyond a fourth round of UN Security Council sanctions imposed on June 9, targeting Iran's oil and gas sectors.

The United States, Israel, and some of their allies accuse Tehran of pursuing military objectives in its nuclear program.

Iranian officials refute such allegations and stress that as a member of the International Atomic Energy Agency and a signatory to the Nuclear Non-Proliferation Treaty, the country has a legitimate right to pursue peaceful nuclear technology.

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