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Iran's mullahs have $25b in 39 countries

 

 

Iranian mullahs held a total of $25 billion in banks of 39 countries contributing to a survey of the Bank for International Settlements as of end-September, a BIS economist said yesterday.

Karsten von Kleist gave Reuters details of the survey as world markets digested a statement from a senior Iranian official on Friday that Iran was transferring assets from European accounts to other foreign banks.

The Middle East oil producer faces possible United Nations sanctions over its nuclear programme.

Von Kleist said the $25 billion figure compares with $23.5 billion at end-June, a number which has been on the rise in recent quarters. On the asset side of their balance sheets, the banks in the 39 countries across the world had lent $27.1 billion to Iranian customers at end-September. That compared with $25.6 billion at end-June, von Kleist said. Iran's foreign ministry has flatly denied any currency has been transferred from overseas accounts. Analysts have been trying to gauge the amount of Iranian assets in Western markets since Friday's statement.

The Bank of England said on Friday Iranian banks' money in Britain amounted to $4.1 billion at the end of September. UBS the world's biggest asset manager said on Sunday it was cutting its ties with Iran because the business was unattractive