US tells Seoul to close Iranian bank

A Bank Mellat branch in Tehran



Source: Press TV
http://www.presstv.ir/detail.aspx?id=137496§ionid=351020102


South Korea is under US pressure to close Iran's Bank Mellat branch in Seoul, as Washington is pursuing plans to put more pressure on Iran over its nuclear program.

The US pressure has put Seoul in the difficult situation of having to choose between 10 billion dollars of annual bilateral trade with Tehran and its alliance with the United States at a time of rising tension with North Korea.

South Korean officials told the Financial Times on Wednesday that they had no leeway to attack Bank Mellat because they had not detected any wrongdoing at the Seoul branch, which was opened in 2001.

Dan Glaser, the US Treasury deputy assistant secretary on terrorism financing and financial crimes, has visited South Korea to persuade Seoul to close the bank's branch.

“We come to places like South Korea, which is an absolutely vital center in the international financial system, to ensure that those types of actions occur throughout the international financial system,” Glaser told reporters in Seoul.

South Korea's Finance Ministry could not say whether it would change its policies.

"We are at a loss," said Lee Hu-myung, a chief of the foreign currency policy division. "We need to discuss the matter with all the relevant ministries."

While the US possesses and has used nuclear weapons in the past, Washington, in a politically-motivated move, is pushing for more sanctions against Iran, which does not possess nuclear weapons nor does it seek to develop such weapons.

'Iran could rethink EU trade ties'

Head of the Majlis National Security and Foreign Policy Commission Alaeddin Boroujerdi


Source: Press TV
http://www.presstv.ir/detail.aspx?id=136860§ionid=351020104


The Islamic Republic could reconsider its economic ties with the European Union in response to EU's unilateral sanctions against Iran's nuclear work, a senior Iranian MP says.

“The European Union will receive an appropriate response [from Iran] should it put into practice [new] sanctions against the Iranian nation,” Head of the Majlis National Security and Foreign Policy Commission Alaeddin Boroujerdi told IRNA Saturday.

The European Union on July 26 adopted new sanctions against Iran, which mainly target the country's financial and energy sectors.

Boroujerdi further pointed out that Iran reserved the right to retaliate against sanctions from any country, warning that Tehran would cut trade with the EU in response.

“If the decision [to impose sanctions] is put into practice, we will cut trade and economic capacities with them (EU member states) and shift to countries that are not after sanctioning the Islamic Republic of Iran.”

The senior lawmaker also added that it was the EU that would suffer most from sanctions since Iran's multi-billion-dollar trade relations with European Union member states had created jobs for many European countries.

The European Union, with 27 member nations, is Iran's first trading partner.

Close to 90% of EU imports from Iran are energy related. EU exports to Iran in 2009 were mainly machinery and transport equipment, manufactured goods and chemicals.

The EU new sanctions come in addition to the fourth round of UN Security Council resolutions against Tehran over its nuclear work.

Iran says any sanctions against its nuclear work are legally baseless as its nuclear work is being monitored by the International Atomic Energy Agency and carried out within the frame work of the Nuclear Non-proliferation Treaty.

'No response yet on Nuclear fuel swap talks'

Iran's IAEA Envoy Ali-Asghar Soltanieh


Source: Press TV
http://www.presstv.ir/detail.aspx?id=136867§ionid=351020104


The Iranian ambassador to the International Atomic Energy Agency (IAEA) says the Vienna Group has not yet responded to Iran's announcement that it is ready for unconditional talks on a nuclear fuel swap.

Ali-Asghar Soltanieh said he had announced Iran's preparedness for unconditional negotiations in a meeting with IAEA chief Yukiya Amano, reported Fars News Agency.

"We are now waiting for the other side to announce its response to the IAEA director general" Soltanieh added.

He reiterated that the Vienna Group (comprising the US, Russia, France and the IAEA) has not yet responded to the director of the UN nuclear watchdog on whether or not they will take part in the talks on supplying fuel to the Tehran nuclear research reactor and, if so, when the negotiations should be held.

He underlined the talks will be another test for the Vienna Group to show its goodwill and political determination to forge ahead with 'this humanitarian project' in keeping with the IAEA regulations.


'Sanctions have had no bearing on Iran's peaceful nuclear activities and have only harmed cooperation within the IAEA' said the top Iranian diplomat.

Soltanieh underscored the talks will also be another opportunity for the Vienna Group to drop its policy of confrontation and sanctions, and return to the 'path of cooperation.

Iran faces new EU sanctions

Further sanctions against Iran could hit the
country's oil industry [AFP]


Source: Al Jazeera
http://english.aljazeera.net/news/europe/2010/07/201072684955954664.html

The European Union is set to adopt a new package of sanctions against Iran, targeting the country's foreign trade, banking and energy sectors.

The sanctions, which were agreed to in principle by EU leaders in June, will be the latest in a series of measures taken by the international community in an effort to disrupt Iran's controversial nuclear program.

EU foreign ministers were expected "to adopt a decision on a package of restrictive measures to be imposed on Iran in the areas of trade, financial services, energy and transport, and also a regulation extending the list of entities and individuals subject to an assets ban," a statement said.


It would include a ban on the sale of equipment, technology and services to Iran's energy sector.

The new European restrictions will come on top of a fourth round of sanctions imposed last month by the UN Security Council.

Western powers believe Iran is trying to develop nuclear weapons but Tehran insists its nuclear program has purely peaceful intentions.

The Security Council endorsed the latest round of sanctions after failing to get Iran to accept a UN-drafted plan to swap its low-enriched uranium for higher-enriched uranium in the form of fuel rods it needs for a medical research reactor.

'Dramatic effects'

Al Jazeera's Laurence Lee, reporting from the EU headquarters in the Belgian capital, Brussels, said the sanctions could dramatically affect the Iranian economy.

"As well as things like stopping Iranian banks with links to the Revolutionary Guard from operating in Europe, the key thing is that in the future, European countries, which have very strong ties to Iran, won't be able to offer technical assistance to Iran in things like refining oil," he said.

"Iran is a major producer of oil, but doesn't refine it very well. If this block comes in, it will dramatically affect the Iranian economy."

EU foreign ministers were in their Monday meeting also expected to reaffirm the bloc's invitation to Tehran to hold talks on the nuclear issue.

"Our aim is to bring Iran back to the negotiating table," Werner Hoyer, a German secretary of state, said.

"We're offering our hand, and all they have to do is to take it."

Turkey's foreign minister said on Sunday that Iran may hold nuclear talks with the EU after the end of the holy month of Ramadan in early September.

Ahmet Davutoglu briefed the media after a meeting with Manouchehr Mottaki, his Iranian counterpart, and Celso Amorim, the Brazilian foreign minister, in Istanbul.

"Iran has stated that it is ready to meet with [EU's foreign policy chief Catherine] Ashton as the representative of the P5+1," Davutoglu said, referring to the group negotiating with Iran which includes the five permanent members of the UN Security Council the UK, China, France, Russia and the US, plus Germany.


Davutoglu welcomed the move and expressed Turkey's readiness to host the meeting if need be.


Mahmoud Ahmadinejad, the Iranian president, has set three conditions for an eventual resumption of talks, saying countries who want to participate should make clear whether they oppose Israel's nuclear arsenal, whether they support the Nuclear Nonproliferation Treaty and whether they want to be friends or enemies with Iran.

Iran MP warns EU against sanctions

Alaeddin Boroujerdi, head of Majlis National
Security and Foreign Policy Commission



Source: Press TV
http://www.presstv.ir/detail.aspx?id=136240§ionid=351020101


A senior Iranian lawmaker has warned the European Union against imposing any additional sanctions on the Islamic Republic over its nuclear program.

“If EU wants to follow US policies on Iran and impose additional sanctions on the country, Islamic Republic will reconsider its cooperation with the member states,” head of the Majlis National Security and Foreign Policy Commission, Alaeddin Boroujerdi, said,

Boroujerdi added that the EU is a political union of 27 independent member states but, regarding Islamic Republic, it always follow US policies and can not make an independent decision.

The warning came just a day before the European Union is expected to impose unilateral sanctions on Tehran at a meeting of EU foreign ministers on Monday.

The EU reached agreement on Thursday on a package of sanctions which includes measures against Iran's oil and gas industry.

On June 9, the UN Security Council passed a US-drafted sanctions resolution against Iran over its nuclear program. The US and EU have since adopted unilateral measures against Iran.

Iranian officials say that as a signatory to the Nuclear Non-Proliferation Treaty the country has the right to peaceful nuclear technology for civilian electricity generation and medical research.

Tehran has repeatedly declared that it will not relinquish the legitimate nuclear rights of the Iranian nation under Western pressure.

'West will regret troubling Iran ships'

Iranian Commerce Minister Mehdi Ghazanfari


Source: Press TV
http://www.presstv.ir/detail.aspx?id=135928§ionid=351020101


Iranian Commerce Minister Mehdi Ghazanfari has warned against any plan for the inspection of the country's cargo ships, saying perpetrators will regret the act.

Ghazanfari questioned West's authority to scrutinize Iranian ships and said, "Iran reserves the right to respond to inspections as any such attempts will be a move beyond the sanctions resolution," Mehr news agency reported on Friday.

He also slammed the fourth round of UN Security Council sanctions against Iran's nuclear program and said the new measure will fail to change the country's stance on its nuclear program.

The Iranian official further pointed out that the Islamic Republic will continue to "fully" support its cargo fleet.

Iranian President Mahmoud Ahmadinejad had earlier warned that Tehran will retaliate if its cargo ships come under inspection and that it will delay resuming nuclear talks to teach the West the manner of talking "to our nation."

The UN Security Council passed a US-sponsored anti-Iran resolution on June 9 that imposes restrictions on the country's shipping industry in addition to other sectors.

Under the new sanctions regime, countries have the authority to inspect cargo ships, heading to or from Iran, in their own territorial waters.