Linking Chinese Banks To Illegal Iranian Money Transfers

Prosecutors Link Money From China To Iran -- New York Times

Prosecutors say they have unearthed evidence in recent international money-transfer investigations that Chinese banks may have flouted United States sanctions against Iran.

Now, as they investigate global banks suspected of funneling billions of dollars through their American branches to Iran and other sanctioned nations, the prosecutors are looking for transactions that could offer more information on the banks’ dealings with Iran.

Information on how Chinese banks may have routed money on behalf of Iranian banks and corporations is more valuable than any monetary settlement the authorities could win from the global banks, law enforcement officials with knowledge of the cases said, because the United States could use the information to strengthen its efforts to choke off economic dealings with Iran.

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My Comment: Everyone knows that Iran needs access to international financial institutions to purchase the goods that they need. Cutting off these financial links will only make life more miserable for Iranians .... but the key obstacle for prosecutors is to find these links, and to then gather sufficient evidence to make their case. If these reports are true, it looks like China is the Achilles Heel for the Iranians.