The Mideastwire Blog

Excerpts from the Arab and Iranian Media & Analysis of US Policy in the Region

US Treasury is INDEED cracking down on Lebanon

CLARIFICATION – the “treasury” person below is at the client organization but their bank received their direction from OFAC. Note that this sort of “tie up” has been happening now for the past month including from EU clients….it is indeed “new” and therefore that is why I raised it.

CLARIFICATION II – OFAC is categorically denying any recent changes have taken place and that the US bank was and is incorrect.

ORIGINAL POST –

After seven years, I am told our company in Beirut just got this message from the Treasury department via a major US subscriber:

“Hi XXXXXXX,

Your wire transfer in the amount of $XXXXX to Mideast Wire.com CO SARL will not be able to be paid.  Our bank said that Beirut Lebanon has been put on a OFAC Country list.  This means that any wires going to that country will need a US pay through bank to send the funds through.  Please contact your beneficiary and ask if they can give you the name and ABA number for a US Bank that we can use as a pay through bank to send these funds to them in Beirut, Lebanon.

Thanks
Bettina XXXXXX
Treasury Operations

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Written by nickbiddlenoe

May 3, 2011 at 10:16 pm

Posted in Uncategorized

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