The New York State Department of Financial Services imposed a $315 million penalty on the Bank of Tokyo-Mitsubishi UFJ for misrepresenting the extent of its business with Iran and "misleading regulators". This action follows a separate settlement reached with New York regulators in 2013. At that time, the bank was fined $250 million for routing transactions with Iran and other restricted countries through New York. However, the consulting firm PricewaterhouseCoopers, which investigated and assessed the misconduct, was accused of "improperly altering" its report under pressure from the bank. The firm was fined $25 million for doing so in August by the New York regulator.
News Briefs
November 18, 2014
-- New York Times
November 17, 2014
According to the German Federal Customs Service's investigative unit (ZKA), Iran has sought to buy components for its nuclear program on the German market over the past few months. Using front companies to conceal its activities, Iran has successfully purchased sanctioned goods in some cases. ZKA chief Norbert Drude reported that over two-third of the investigations undertaken by Customs in 2012 and 2013 involved Iran. This story was first reported by the German daily Der Tagesspiegel on November 16.
-- Jerusalem Post
November 11, 2014
Russia has agreed to construct eight nuclear reactors in Iran. The nuclear energy agreement was signed by Rosatom General Director Sergey Kirienko and Atomic Energy Organization of Iran (AEOI) Chief Ali-Akbar Salehi. The agreement includes the construction of two VVER nuclear reactors at the Bushehr site in the short-term; two further reactors at Bushehr in the medium-term; and plans for four VVER reactors at a new site. The deal may also include a seawater desalination plant. The protocol requires that Rosatom provide the nuclear fuel throughout all stages of the fuel cycle for the eight reactors, and that used fuel be returned to Russia for reprocessing and storage.
-- World Nuclear News
November 11, 2014
A new book asserts that the Stuxnet worm that attacked Iran's Natanz uranium enrichment facility entered the plant by first infecting four companies that were performing contracting work there. The book, "Countdown to Zero Day: Stuxnet and the Launch of the World's First Digital Weapon," was written by Wired reporter Kim Zetter. Zetter claims that the companies, which were all involved in industrial control systems, were likely to have been targeted because of their access to Natanz. The companies were identified as Foolad Technic Engineering Co., Behpajooh Co. Elec & Comp. Engineering, Neda Industrial Group, and Control Gostar Jahed. In addition, Kala Electric, a producer of uranium enrichment centrifuges, was named Kaspersky Lab, a computer security firm, as a fifth company likely targeted by the computer worm.
-- Ars Technica
October 6, 2014
Two workers were killed after an explosion at a military explosives factory near the Parchin military base southeast of Tehran. Iran's Defense Industries Organization (DIO) said the cause was a fire. The International Atomic Energy Agency (IAEA) suspects Iran has conducted research relevant to nuclear weapons at the Parchin site. IAEA inspectors have not been allowed to inspect the facility since 2005.
-- Jerusalem Post
September 21, 2014
Two Chinese Navy warships docked at the Iranian port of Bandar Abbas in advance of four days of joint naval exercises in the Persian Gulf. One of the vessels, the Changchun, is a guided-missile destroyer. According to Iranian media, the joint exercises will focus on safety and anti-piracy operations. A Chinese fleet commander said the visit was intended to "enhance exchanges between our two countries' navies."
-- New York Times
September 6, 2014
Iran failed to address concerns about the possible military dimensions of its nuclear program by an August 25 deadline, according to an International Atomic Energy Agency (IAEA) report. Specifically, Iran did not provide the IAEA with information regarding experimentation with high explosives and calculations on nuclear detonation yields. Discussions on these two issues only began at an August 31 meeting in Tehran.
-- Reuters
August 29, 2014
The Obama administration announced new sanctions against several Iranian organizations, including the Organization of Defensive Innovation and Research. This organization was created three and a half years ago by Mohsen Fakhrizadeh, who is believed to direct Iran's nuclear weapons research. The United States also sanctioned Iran's Nuclear Science and Technology Research Institute for helping build the Arak reactor.
-- New York Times
August 27, 2014
Ali Akbar Salehi, head of the Atomic Energy Organization of Iran (AEOI), announced that Iran is preparing to launch a new generation centrifuge called the IR-8. According to Salehi, the IR-8 is capable of producing 24 separative work units (or SWUs), in contrast to Iran's first-generation IR-1 centrifuge, which yields less than 2 SWUs. Salehi said the IR-8 machines have undergone mechanical tests but have not been injected with uranium hexafluoride (UF6) gas.
-- Fars News Agency
August 9, 2014
Iran received the last installment of the $4.2 billion in frozen assets it was promised under the interim nuclear deal signed in November 2013. In return, Iran either converted or diluted its stockpile of 20 percent enriched uranium. The $4.2 billion in frozen assets were released in eight installments. The most recent tranche was paid by India and received by the Central Bank of Iran through the Central Bank of the United Arab Emirates.
-- Fars News Agency