When it comes to power the within the world, the United States has a lot of it. The nation’s influence without doubt extends into the sphere of international finance, where it has thrown its considerable weight into bringing charges against England’s Barclays Bank. As outlined by the Washington Post, Barclays was accused by prosecutors to have violated for more than a decade, from March 1995 to September 2006, all of the U.S. sanctions against Cuba, Iran, Libya, Burma and Sudan. Via the U.S. dollar clearing operations at its New York branch, Barclays sent more than $ 500 million to banks in those U.S. enemy nations. Reuters indicates that Barclays Bank has already agreed to pay $ 298 million to settle U.S. criminal charges, and hence has admitted to wrongdoing.
Prosecutors think Barclays tried hiding what happened
Barclays documents filed in the U.S. omitted the names of banks in those sanctioned countries. An internal account was used for all of the payments made because the bank didn’t want to be connected to the other countries. Barclays is in all this trouble because they traded with the enemy and violated the International Emergency Economic Powers Act, as outlined by chief of the U.S. Justice Department’s asset forfeiture and money-laundering division, Jennifer Calvery.
U.S. sanctions against Cuba have been in existence since the Kennedy presidential administration, when Libya (1986), Iran (1995), Sudan and Burma (1997) came later.
Barclays makes clear what some transactions were
According to Reuters, all related documents are being given to the U.S. government investigators by Barclays Bank in cooperation. Barclays hasn’t given all these documents up yet. $ 149 million could be given to the U.S. government right away while the last $ 149 million is given later for the $ 298 million settlement.
Violating human right like Americans
Cuba, Iran, Libya, Sudan and Burma all have had human right violations against them in the past. Supporting U.S. enemies through U.S. soul was a bad move for Barclays, although Barclays is not the only one who has made this mistake. The United States likes to make things happen the way they’ve planned. It is said by The Decemberists’ song “Sixteen Military Wives”,
Cheer them on to their rivals
Cause America can, and America can’t say no
And America does, if America says it’s so
It’s so!
More on this topic available at these websites
Reuters
reuters.com/article/idUSTRE67F36J20100816?utm_source=feedburner and amp;utm_medium=feed and amp;utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F+US+%2F+Top+News%29
Washington Post
washingtonpost.com/wp-dyn/content/article/2010/08/16/AR2010081602955.html
Barclays was previously fined £ 2.45 million ($ 3.8 million) for “poor reporting systems”
youtube.com/watch?v=zqsf3XswX4Q
