Aide Memoire from the Australian Embassy: Additional Sanctions on Iran

OFFICE OF THE DEPUTY GOVERNOR SUPERVISION AND EXAMINATION SECTOR CIRCULAR LETTER NO.: C-2009-008

To: ALL COMMERCIAL BANKS

Subject: Aide Memoire from the Australian Embassy: Additional Sanctions on Iran

The Bangko Sentral ng Pilipinas received from the Department of Finance a copy of the endorsement of the Department of Foreign Affairs (DFA) of the Note Verbale No. 377/08 dated 23 October 2008 from the Australian Embassy, transmitting a copy of the Aide Memoire containing the announcement made by Hon. Stephen Smith, the Australian Minister of Foreign Affairs regarding additional sanctions to Iran’s failure to comply with the United Nations Security Council (UNSC) resolutions concerning its Uranium enrichment and reprocessing activities.

In the said announcement, Minister Smith expressed support to the UNSC resolutions and in response to Iran’s continued defiance of the UN resolutions, Australia imposed new financial and travel sanctions against 20 Iranian individuals and 18 organizations which contribute to Iran’s nuclear and missile programs.  Two of these organizations include the Iranian banks Melli and Saderat.

Banks are advised to closely monitor any financial transactions with the two Iranian banks Melli and Saderat.  Any known information regarding said banks such as amount, date, counterparty and nature of transaction may be reported to the Central Point of Contact Department I, Supervision and Examination Sector of the BSP.

Attached for your guidance is the DFA endorsement of the Note Verbale No. 377/08 dated 23 October 2008 from the Australian Embassy, containing the announcement made by the Australian Minister of Foreign Affairs.

NESTOR A. ESPENILLA, JR. Deputy Governor