Treasury affirms dangers of business with Iran

October 25, 2007

In his comments, Secretary Paulson noted: “In dealing with Iran, it is nearly impossible to know one’s customer and be assured that one is not unwittingly facilitating the regime’s reckless conduct.  The recent warning by the Financial Action Task Force, the world’s premier standard-setting body for countering terrorist financing and money laundering, confirms the extraordinary risks that accompany doing business with Iran.”

Paulson went on to state: “The IRGC is so deeply entrenched in Iran’s economy and commercial enterprises, it is increasingly likely that, if you are doing business with Iran, you are doing business with the IRGC.  We call on responsible banks and companies around the world to terminate any business with Bank Melli, Bank Mellat, Bank Saderat, and all companies and entities of the IRGC”