VZCZCXYZ0000
RR RUEHWEB

DE RUEHMU #2455 3131517
ZNR UUUUU ZZH
R 091517Z NOV 07
FM AMEMBASSY MANAGUA
TO RUEHC/SECSTATE WASHDC 1660
INFO RUEHZA/WHA CENTRAL AMERICAN COLLECTIVE
RUEATRS/DEPT OF TREASURY WASHINGTON DC

UNCLAS MANAGUA 002455 
 
SIPDIS 
 
SENSITIVE 
SIPDIS 
 
STATE FOR WHA/CEN, WHA/EPSC, ISN/CPI AND T 
TREASURY FOR SARA GRAY AND TFFC 
 
E.O. 12958: N/A 
TAGS: PARM PREL MNUC ECON NU
SUBJECT: NICARAGUA: FATF STATEMENT AND GUIDANCE ON IRAN 
 
REF: A. SECSTATE 149648 
 
     ¶B. SECSTATE 148605 
     ¶C. MANAGUA 1987 
     ¶D. MANAGUA 1273 
     ¶E. MANAGUA 914 
 
¶1. (U) Econoff delivered Ref A demarche to the Ministry of 
Foreign Relations (MFA), the Superintendent of Banks and 
Other Financial Institutions (SIBIOF), and the Nicaraguan 
Central Bank (BCN).  At each meeting Econoff left FATF and 
U.S. Treasury advisory notices concerning Iran, as well as 
the non-paper and fact sheet on the U.S. designation of 
Iranian entities and individuals contained in Ref B.  Both 
SIBIOF Victor Urcuyo and BCN President Antenor Rosales stated 
that they would pass this information along to financial 
institutions, urging caution in all transactions involving 
Iran and Iranian entities.  MFA Legal Advisor Aracely 
Rodriguez pledged to pass the message to relevant MFA 
authorities and the Presidency.  Secretary General of the 
Ministry of Finance Ivan Acosta, an FSLN party stalwart, 
declined the request for a meeting, noting that "the issue 
was not relevant to his institution." 
 
¶2. (SBU) Since the inauguration of President Ortega in 
January, Nicaragua has embarked on a closer, relationship 
with Iran, including the re-establishment of embassies and 
the exchange of Ambassadors (Refs C-E).  On more than one 
occasion, President Ortega has highlighted Iranian promises 
of assistance, contrasting their "unconditional" nature with 
the targeted projects of western donors.  Despite the July 
visit of an Iranian technical mission looking at possible 
areas of cooperation (Ref D), the Iranian Ambassador in 
Nicaragua Akbar Esmaeil Pour has explained to the press that 
Iranian Assistance will be slow in coming. 
 
¶3. (SBU) To date, SIBIOF has received no reports of any 
suspicious transactions involving Iran from any of 
Nicaragua's financial institutions.  However, if Iran steps 
up its presence in Nicaragua, we will revisit this question. 
U.S. financial institutions (Citibank and GE Financial) 
maintain a controlling interest in two of Nicaragua's top 
four banks.  An American citizen owns a controlling interest 
in a third.  HSBC recently purchased Banistmo, which 
maintains operations in Nicaragua. 
TRIVELLI