Iran foreign ministry denies Tehran’s assets moved

TEHRAN (Reuters) – Iran’s Foreign Ministry on Sunday flatly
denied any currency had been transferred from Tehran’s overseas
accounts to protect holdings from possible economic sanctions
over work on its atomic programme.

The Foreign Ministry’s statement contradicted Central Bank
Governor Ebrahim Sheibani, who was quoted on Friday as saying
foreign holdings were being shifted.

The Central Bank of Iran, in a statement faxed to Reuters
on Sunday, denied a newspaper report that it was shifting funds
to East Asia but did not comment on whether transfers were
occurring elsewhere. It also did not address the contradiction
with the Foreign Ministry.

“So far we have not moved any hard currency. We have not
transferred it,” Foreign Ministry Spokesman Hamid Reza Asefi
told a news conference.

Iran faces referral to the U.N. Security Council for
possible sanctions after failing to convince the world its
atomic programme is peaceful. It has bitter memories of its
U.S. assets being frozen after the 1979 Islamic revolution.

Sheibani on Wednesday told reporters that Iran stood ready
to repatriate foreign-held assets if that were to prove
necessary.

On Friday, he was quoted by the ISNA and Fars news agencies
as saying: “We transfer foreign reserves to wherever we see as
expedient. On this issue, we have started transferring. We are
doing that.”

Prior to Sheibani’s comments on Friday, the Asharq al-Awsat
Arabic daily reported that Iran’s Supreme National Security
Council had ordered that overseas assets be sent to Hong Kong,
Singapore, Shanghai and Malaysia.

In its statement on Sunday, the central bank said: “Iran’s
currency reserves will be kept in trustworthy banks all over
the world including those in European and non-European
countries.”

However, the statement did not clarify the meaning of
Sheibani’s comments on Friday. It only denied the reported
transfer to Asia, and did not comment on whether Iran was
moving money to other destinations or repatriating it.

Analysts said it was unclear what Iran would gain by
transferring money to other foreign accounts, which would be
equally subject to U.N. measures.

Some, however, suggested that Iran could still be eyeing
Switzerland and Gulf accounts as refuges.