Ecuador: Central Bank denies financial triangulation in commercial ties with Iran

Posted on July 18, 2012 • Filed under: Business, Ecuador, Politics

The Central Bank rejected the claim of opposition lawmakers, who say that Ecuador does a “financial triangulation” to maintain commercial ties with the Iranian government. The entity described as “reckless” the charge of the assembly Cesar Montufar, Paco Moncayo, Maria Paula Romo and Betty Amores, who noted that Ecuador opened accounts in third countries to trade. “The Central Bank has no correspondent bank accounts abroad to maintain financial ties and trade relations with the Islamic Republic of Iran. Therefore, do not have a payment mechanism that allows to make or receive resource transfers to or from the said country.” Read Article El Comercio

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