Ecuador: Correa accused of establishing mechanism to launder money from Iran

The president of the National Federation of Chambers of Commerce of Ecuador, Blasco Penaherrera, accused the government of President Rafael Correa to establish a mechanism for laundering money from Iran, which is subject to international sanctions. Penaherrera, who described Ahmadinejad as a “tyrant” and “obnoxious person”, said Correa “insists on maintaining relations with whom we must not, who is sanctioned by United Nations”, and warned of possible negative consequences for Ecuador.
The business leader cited a confidential report by the Central Bank of Ecuador in 2008 that warned that the signing of agreements with his counterpart from Iran could lead to “blocking or freezing of resources in the accounts maintained outside the institution.” Read Article