Iranian-linked entities sanctioned for Missile rôle, Iranians violating American trade sanctions get clemency
18 January, 2016
The U.S. Treasury Department sanctioned nearly a dozen Iranian-linked entities January 17 for their alleged role in Tehran’s ballistic-missile program.
Hossein Pournaghshband, Mabrooka Trading,
Chen Mingfu, Anhui Land Group Co.
Rahim Reza Farghadani, Candid General Trading
Sayyed Javad Musavi, Shahid Hemmat Industrial Group (SHIG)
Seyed Mirahmad Nooshin, Sayyed Medhi Farahi, Seyed Mohammad Hashemi
Mehrdada Akhlaghi, Shahid Bakeri Industrial Group
Seven Iranians accused or convicted of violating American trade sanctions against Iran were granted clemency by President Obama as part of a prisoner release between the two long-estranged nations.
Nader Modanlo, Bahram Mechanic, Khosrow Afghahi, Tooraj Faridi, Arash Ghahreman, Nima Golestaneh and Ali Saboonchi. One was an aerospace expert convicted of helping Iran launch its first satellite into space. Another was a maritime engineer found guilty of providing navigation technology to the Iranians. And three men had ties to a company accused of illegally exporting millions of dollars in American technology with military applications to Iran.
[April 4 2011 Commerzbank AG, Frankfurt am Main, will pay U.S penalty, posted profit of 264 million euros]
Germany’s second-largest lender, via Commerz New York, will pay$ 1.45 billion t to defer prosecuting the lender for violating U.S. laws, including sanctions on doing business with Iran and Sudan, to government agencies including the Manhattan District Attorney’s office, the Federal Reserve and the Treasury Department. The Frankfurt-based bank conceded the allegations, which included aiding accounting fraud at Olympus Corp.
From at least 2002 to 2008, the bank used a series of measures, including stripping out information identifying sanctioned clients, to process transactions valued at more than $250 billion on behalf of Iranian and Sudanese entities, according to authorities.
The bank is expanding lending to German consumers and companies while winding down soured shipping and real estate loans. Blessing has also pledged to cut at least 5,200 staff as he seeks to reach profitability targets set for 2016. The company posted profit of 264 million euros in 2014, up from 81 million euros a year earlier.
[December 11 2011 Germany: We have been trying for 50 years not to lead]
Berlin’s dominance has shaken the Franco-German equilibrium at the heart of the post-World War II balance of power. Debt contagion and slumping growth have driven French borrowing costs to a euro-era record against Germany. The result may be a remade political map with even Poland, invaded by Adolf Hitler in 1939, calling for a stronger German role.
“We are an unwilling leader,” Wolfgang Ischinger, a former German ambassador to Britain and the U.S. and now chairman of the Munich Security Conference, said in an interview. “We have been trying for 50 years not to lead. Germany will have to grow up now. It’s new and there will be a learning curve and mistakes will be made.”
[December 3]Euro-zone banks’ overnight deposits with the European Central Bank hit yet another fresh 2011 high December 2. Banks deposited €332.705 billion ($445.49 billion) with the ECB, the ECB said December 5, hitting a 2011 record for the third day in a row. The deposits were up from €313.763 billion Thursday, hitting a level last seen in June 2010 while edging closer to the all-time high.
When markets are functioning properly, banks deposit a few hundred million euros at the ECB overnight. With the deepening of the euro-zone debt crisis, banks have become reluctant to lend to one another and place their funds with the ECB instead, in the fear that their counterparty may be exposed to week euro-zone sovereign debt.
[December 3]SchnittsKrieg, a war of cuts, deep, damaging austerity that amputates and excises and rearranges the targeted economies
By robbing a currency of its value, inflation wipes the slate clean for debtors and savers alike. Germans say they like the slate the way it is because they are on the plus side of the ledger.
Consumer debt, whether credit cards or in many cases even home mortgages, is frowned upon in Germany. According to figures of the Organization for Economic Cooperation and Development, the German savings rate was more than 10 percent every year between 2003 and 2009, while during the same period it bottomed out at 1.5 percent in the United States, and never rose above 6.2 percent. As a result German households had net savings of $4.3 trillion, according to the Bundesbank, in a country of fewer than 82 million people.
German focus on inflation is woefully misplaced during a time of little or no growth and severe market turmoil. If Europe slashes spending while the economy is still in a depression they will kill the Euro