German Central Bank- No cash to Iran

Legal Insurrection: Germany’s central bank, the Bundesbank, has revised its regulations to stop Iran from withdrawing €320 million ($400 million) in cash from the country’s bank accounts. Under the new conditions, the Bundesbank can stop cash transfers that violate US Treasury sanctions, the German newspaper BILD disclosed.

The drastic measure to physically ship the cash out of Germany demonstrates Tehran’s demising trust in the European financial institutions as the US Treasury tightens screws on the regime’s worldwide financial operations. The transaction is “one of the largest cash transfers ever in German history,” a spokesman for the country’s finance minister admitted.

Last month, the Iranian regime initiated steps to withdraw €320 million from German bank accounts and transfer the cash to Tehran. The money in question is held by Hamburg-based European-Iranian Trade Bank, in which the regime owns a majority-stake. read more