New York's Department of Financial Services accused Standard Chartered PLC of violating federal money laundering laws by conducting $250 billion worth of business transactions with Iranian banks, including the Central Bank of Iran, Bank Saderat, and Bank Melli.
News Briefs
August 4, 2012
Iran successfully test-fired a fourth generation Fateh-110 missile with a range of over 300 km, according to Iranian Defense Minister Brigadier General Ahmad Vahidi. The missile was test fired by the Ministry's Aerospace Industries Organization, according to Vahidi. The Fateh-110 is a short-range, solid-propellant ballistic missile.
-- Fars News Agency
July 31, 2012
President Obama signed a new executive order that targets the Iranian energy sector by making sanctionable any sale or purchase of Iranian oil. The sanctions also targeted two financial institutions, China's Bank of Kunlun and Iraq's Elaf Islamic Bank, which the U.S. government said have helped Iran evade earlier sanctions.
-- BBC News
July 23, 2012
The U.S. Senate's Permanent Subcommittee on Investigations released a report detailing compliance failures by HSBC that included $19.4 billion in undisclosed transactions involving Iran. The report claimed that the London-based bank concealed transactions with Iran that violated U.S. sanctions, conducted business with terrorists, and permitted money laundering by drug cartels.
-- Bloomberg News
July 13, 2012
Parviz Khaki, a 43-year-old Iranian citizen, and Zongcheng Yi, a resident of China, were indicted for attempting to illegally export materials used in gas centrifuges from the United States to Iran. Khaki and Yi allegedly caused the export of lathes and nickel alloy wire to Iran and made efforts to obtain maraging steel, pressure transducers, and vacuum pumps. Khaki also allegedly tried to procure radioactive source materials in 2009 and 2011 from an undercover U.S. federal agent posing as an exporter. Khaki was arrested in the Philippines in May while Yi is still at large.
-- CNN
July 10, 2012
Two Iranian nationals, Ahmad Abolfathi Mohammad and Sayed Mansour Mousavi, have been arrested and charged with preparing to attack Western targets in Kenya. The two men had shipped more than 100 kg of the explosive RDX into Kenya, some of which has not been recovered. Kenyan security and police officials believe the Iranians are members of the Islamic Revolutionary Guard Corps Quds Force.
-- Associated Press via Washington Post
July 4, 2012
The Islamic Revolutionary Guard Corps completed a three-day missile drill in Semnan province. During the drill, called “The Great Prophet 7,” the Shahab 1, Shahab 2, Shahab 3, Khalij Fars (Persian Gulf), Tondar (Lightning), Fateh (Victor), Zelzal (Quake), and Qiam (Uprising) were fired. IRGC fighter jets and drones participated in the drill as well.
-- Press TV
July 1, 2012
On July 1, an E.U. embargo on Iranian oil took effect, halting the vast majority of oil imports into Europe and preventing European insurance of Iranian oil shipments anywhere in the world. On the first day of oil trading under the new embargo, the International Energy Agency estimates that one million barrels of Iranian crude oil could leave the market.
-- Wall Street Journal
June 28, 2012
A new U.S. law took effect which aims to reduce Iran's ability to export oil by barring banks in countries that are importing a significant amount of Iranian oil from the U.S. financial system. Secretary of State Hillary Clinton granted last minute sanctions waivers to China and Singapore for their reductions in Iranian crude oil purchases. Previously, 18 countries had been granted such exemptions.
-- New York Times
June 19, 2012
Two days of talks in Moscow between the P5+1 (Britain, China, France, Germany, Russia, and the United States) and Iran ended without a breakthrough. Iran provided a detailed response to P5+1 proposals presented at previous talks, but remained adamant that its right to enrich uranium be recognized. The P5+1 insist that Iran abide by U.N. Security Council resolutions and suspend all uranium enrichment. Technical experts from both sides will meet next month to determine if another high level meeting is worthwhile.
-- New York Times