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Monday, May 16, 2016

Former sanctions officer slams Obama's 'mixed messages' on Iran

A banker who once enforced U.S. sanctions on entities dealing with Iran said the Obama administration is sending mixed messages on whether it will penalize those who do business with the Islamic Republic.

“Washington is pushing non-U.S. banks to do what it is still illegal for American banks to do,” Stuart Levey, who was the undersecretary for terrorism and financial intelligence at the U.S. Treasury from 2004 to 2011, wrote in last Friday’s Wall Street Journal.

Levey, who is now chief legal officer for HSBC Holdings, a British bank, referred to a meeting last week in London in which U.S. Secretary of State John Kerry sought to persuade European financial institutions to do business with Iran. READ MORE