

Currently released so far... 12404 / 251,287
Browse latest releases
2010/12/01
2010/12/02
2010/12/03
2010/12/04
2010/12/05
2010/12/06
2010/12/07
2010/12/08
2010/12/09
2010/12/10
2010/12/11
2010/12/12
2010/12/13
2010/12/14
2010/12/15
2010/12/16
2010/12/17
2010/12/18
2010/12/19
2010/12/20
2010/12/21
2010/12/22
2010/12/23
2010/12/24
2010/12/25
2010/12/26
2010/12/27
2010/12/28
2010/12/29
2010/12/30
2011/01/01
2011/01/02
2011/01/04
2011/01/05
2011/01/07
2011/01/09
2011/01/10
2011/01/11
2011/01/12
2011/01/13
2011/01/14
2011/01/15
2011/01/16
2011/01/17
2011/01/18
2011/01/19
2011/01/20
2011/01/21
2011/01/22
2011/01/23
2011/01/24
2011/01/25
2011/01/26
2011/01/27
2011/01/28
2011/01/29
2011/01/30
2011/01/31
2011/02/01
2011/02/02
2011/02/03
2011/02/04
2011/02/05
2011/02/06
2011/02/07
2011/02/08
2011/02/09
2011/02/10
2011/02/11
2011/02/12
2011/02/13
2011/02/14
2011/02/15
2011/02/16
2011/02/17
2011/02/18
2011/02/19
2011/02/20
2011/02/21
2011/02/22
2011/02/23
2011/02/24
2011/02/25
2011/02/26
2011/02/27
2011/02/28
2011/03/01
2011/03/02
2011/03/03
2011/03/04
2011/03/05
2011/03/06
2011/03/07
2011/03/08
2011/03/09
2011/03/10
2011/03/11
2011/03/13
2011/03/14
2011/03/15
2011/03/16
2011/03/17
2011/03/18
2011/03/19
2011/03/20
2011/03/21
2011/03/22
2011/03/23
2011/03/24
2011/03/25
2011/03/26
2011/03/27
2011/03/28
2011/03/29
2011/03/30
2011/03/31
2011/04/01
2011/04/02
2011/04/03
2011/04/04
2011/04/05
2011/04/06
2011/04/07
2011/04/08
2011/04/09
2011/04/10
2011/04/11
2011/04/12
2011/04/13
2011/04/14
2011/04/15
2011/04/16
2011/04/17
2011/04/18
2011/04/19
2011/04/20
2011/04/21
2011/04/22
2011/04/23
2011/04/24
2011/04/25
2011/04/26
2011/04/27
2011/04/28
2011/04/29
2011/04/30
Browse by creation date
Browse by origin
Embassy Athens
Embassy Asuncion
Embassy Astana
Embassy Asmara
Embassy Ashgabat
Embassy Apia
Embassy Ankara
Embassy Amman
Embassy Algiers
Embassy Addis Ababa
Embassy Accra
Embassy Abuja
Embassy Abu Dhabi
Embassy Abidjan
Consulate Auckland
Consulate Amsterdam
Consulate Adana
American Institute Taiwan, Taipei
Embassy Bujumbura
Embassy Buenos Aires
Embassy Budapest
Embassy Bucharest
Embassy Brussels
Embassy Bridgetown
Embassy Bratislava
Embassy Brasilia
Embassy Bogota
Embassy Bishkek
Embassy Bern
Embassy Berlin
Embassy Belmopan
Embassy Belgrade
Embassy Beirut
Embassy Beijing
Embassy Banjul
Embassy Bangkok
Embassy Bandar Seri Begawan
Embassy Bamako
Embassy Baku
Embassy Baghdad
Consulate Barcelona
Embassy Copenhagen
Embassy Conakry
Embassy Colombo
Embassy Chisinau
Embassy Caracas
Embassy Canberra
Embassy Cairo
Consulate Curacao
Consulate Ciudad Juarez
Consulate Chennai
Consulate Casablanca
Consulate Cape Town
Consulate Calgary
Embassy Dushanbe
Embassy Dublin
Embassy Doha
Embassy Djibouti
Embassy Dili
Embassy Dhaka
Embassy Dar Es Salaam
Embassy Damascus
Embassy Dakar
Consulate Dubai
Embassy Helsinki
Embassy Harare
Embassy Hanoi
Consulate Ho Chi Minh City
Consulate Hermosillo
Consulate Hamilton
Consulate Hamburg
Consulate Halifax
Embassy Kyiv
Embassy Kuwait
Embassy Kuala Lumpur
Embassy Kinshasa
Embassy Kingston
Embassy Kigali
Embassy Khartoum
Embassy Kathmandu
Embassy Kampala
Embassy Kabul
Consulate Kolkata
Embassy Luxembourg
Embassy Luanda
Embassy London
Embassy Ljubljana
Embassy Lisbon
Embassy Lima
Embassy Lilongwe
Embassy La Paz
Consulate Lahore
Consulate Lagos
Mission USOSCE
Mission USNATO
Mission UNESCO
Embassy Muscat
Embassy Moscow
Embassy Montevideo
Embassy Monrovia
Embassy Minsk
Embassy Mexico
Embassy Mbabane
Embassy Maputo
Embassy Manila
Embassy Manama
Embassy Managua
Embassy Malabo
Embassy Madrid
Consulate Munich
Consulate Mumbai
Consulate Montreal
Consulate Monterrey
Consulate Milan
Consulate Melbourne
Embassy Nicosia
Embassy New Delhi
Embassy Ndjamena
Embassy Nassau
Embassy Nairobi
Consulate Naples
Consulate Naha
Embassy Pristina
Embassy Pretoria
Embassy Prague
Embassy Port Of Spain
Embassy Port Louis
Embassy Port Au Prince
Embassy Phnom Penh
Embassy Paris
Embassy Paramaribo
Embassy Panama
Consulate Peshawar
REO Basrah
Embassy Rome
Embassy Riyadh
Embassy Riga
Embassy Reykjavik
Embassy Rangoon
Embassy Rabat
Consulate Rio De Janeiro
Consulate Recife
Secretary of State
Embassy Suva
Embassy Stockholm
Embassy Sofia
Embassy Skopje
Embassy Singapore
Embassy Seoul
Embassy Sarajevo
Embassy Santo Domingo
Embassy Santiago
Embassy Sanaa
Embassy San Salvador
Embassy San Jose
Consulate Strasbourg
Consulate St Petersburg
Consulate Shenyang
Consulate Shanghai
Consulate Sao Paulo
Embassy Tunis
Embassy Tripoli
Embassy Tokyo
Embassy The Hague
Embassy Tel Aviv
Embassy Tehran
Embassy Tegucigalpa
Embassy Tbilisi
Embassy Tashkent
Embassy Tallinn
Consulate Toronto
Consulate Tijuana
USUN New York
USEU Brussels
US Office Almaty
US Mission Geneva
US Interests Section Havana
US Delegation, Secretary
UNVIE
Embassy Ulaanbaatar
Embassy Vilnius
Embassy Vienna
Embassy Vatican
Embassy Valletta
Consulate Vladivostok
Consulate Vancouver
Browse by tag
ASEC
AE
AF
AM
AR
AJ
AU
AORC
AG
AEMR
AMGT
APER
AGMT
AL
AFIN
AO
AMED
ADCO
AS
ABUD
ABLD
ASUP
ASECKFRDCVISKIRFPHUMSMIGEG
APECO
AID
AND
AMBASSADOR
AN
ARM
AY
AODE
AMG
ASCH
AMCHAMS
ARF
APCS
APEC
ASEAN
AGAO
ANET
ADPM
ACOA
ACABQ
AORL
AFFAIRS
ATRN
ACS
AFSI
AFSN
ADANA
ASIG
AA
AX
AUC
AC
AECL
AADP
AGRICULTURE
AMEX
ACAO
ACBAQ
AQ
AORG
ADM
AINF
AIT
ASEX
AGR
AROC
ATFN
AFGHANISTAN
AFU
AER
ALOW
AZ
AVERY
BA
BY
BU
BR
BE
BL
BO
BK
BM
BILAT
BH
BEXP
BF
BTIO
BC
BBSR
BMGT
BTIU
BG
BWC
BB
BD
BX
BP
BRUSSELS
BN
BIDEN
BT
CW
CH
CF
CD
CV
CVIS
CM
CE
CA
CJAN
CLINTON
CIA
CU
CASC
CI
CO
CACM
CDB
CN
CMGT
CS
CG
CBW
CIS
CR
CONDOLEEZZA
CPAS
CAN
CWC
CY
COUNTER
CDG
CL
CT
CIC
CIDA
CSW
CHR
CB
CODEL
COUNTERTERRORISM
CTR
COM
CICTE
CFED
CJUS
CKGR
CBSA
CEUDA
CARSON
CONS
CITEL
CLMT
CROS
CITT
CAC
CVR
CDC
CAPC
COPUOS
CBC
CBE
CARICOM
COE
COUNTRY
CLEARANCE
CACS
CTM
CNARC
ECON
EFIN
ETRD
EUN
EFIS
EG
ETTC
EZ
EPET
EAID
EAGR
ENRG
ECUN
EU
ELAB
ECPS
EAIR
EINV
ELTN
EWWT
EIND
EMIN
EI
ECIN
ENVR
ELECTIONS
EINVEFIN
EN
ES
ER
EC
EUC
EINT
EINVETC
ENGR
ET
EK
ENIV
ETRDEINVECINPGOVCS
ECONOMY
EAP
EFTA
EUR
EUMEM
EXIM
ERD
ENERG
EUREM
ESA
ERNG
EXTERNAL
EPA
EINVECONSENVCSJA
ECONOMICS
ELN
EINN
EFINECONCS
ENNP
EEPET
ETRDEINVTINTCS
ENVI
ETRO
ESENV
ECINECONCS
ECONOMIC
EAIDS
EDU
ETRA
ETRN
EFIM
EIAR
ETRC
EAIG
EXBS
EURN
ECIP
EREL
ECA
ENGY
ECONCS
ECONEFIN
ETC
ETRDECONWTOCS
EUNCH
EINDETRD
IR
IZ
IS
IAEA
INRB
IRAJ
IQ
IN
IT
IMO
INTERPOL
ICAO
IO
IC
ITALY
ITALIAN
IRAQI
ICTY
ID
IPR
IWC
ILC
INTELSAT
IL
IBRD
IMF
IA
IRC
ICRC
ILO
ITU
ITRA
IV
IDA
IAHRC
ICJ
ISRAELI
IRS
INMARSAT
ISRAEL
ISLAMISTS
INDO
IZPREL
ITPHUM
ITPGOV
ITF
IBET
IEFIN
INR
IACI
INTERNAL
IDP
IGAD
IEA
ICTR
IIP
INRA
INRO
IF
KJUS
KSCA
KNNP
KU
KCOR
KCRM
KDEM
KTFN
KHLS
KPAL
KWBG
KACT
KGHG
KPAO
KTIA
KIRF
KWMN
KS
KG
KZ
KN
KMDR
KISL
KSPR
KHIV
KPRP
KAWK
KR
KUNR
KDRG
KCIP
KGCC
KTIP
KSUM
KPKO
KVIR
KAWC
KPIN
KGIC
KRAD
KIPR
KOLY
KCFE
KMCA
KE
KV
KICC
KNPP
KBCT
KSEP
KFRD
KFLU
KVPR
KOCI
KBIO
KSTH
KMPI
KCRS
KOMC
KTBT
KPLS
KIRC
KREL
KFRDKIRFCVISCMGTKOCIASECPHUMSMIGEG
KFLO
KBTS
KSTC
KTDB
KFSC
KX
KFTFN
KNEI
KIDE
KREC
KMRS
KICA
KPAONZ
KCGC
KSAF
KRGY
KCMR
KRVC
KVRP
KSEO
KCOM
KAID
KTEX
KNUC
KNAR
KNUP
KNNPMNUC
KLIG
KFRDCVISCMGTCASCKOCIASECPHUMSMIGEG
KCRCM
KHDP
KGIT
KNSD
KOMS
KWMM
KPAI
KHSA
KTLA
KO
KMFO
KRCM
KCSY
KSAC
KTRD
KPWR
KID
KWNM
KRIM
KPOA
KCHG
KOM
KSCI
KFIN
KMOC
KESS
KWAC
KMIG
KSEC
KIFR
KDEMAF
KPRV
KBTR
KERG
KTER
KDDG
KPAK
KRFD
KHUM
KDEV
KCFC
KWWMN
KWMNCS
KJUST
MARR
MOPS
MU
MTCRE
MNUC
MY
MASS
MCAP
MOPPS
MAR
MPOS
MO
ML
MR
MASC
MX
MD
MP
MA
MTRE
MIL
MCC
MZ
MK
MDC
MRCRE
MAPS
MV
MI
MEPN
MAPP
MEETINGS
MAS
MTS
MLS
MILI
MTCR
MG
MC
MARAD
MIK
MILITARY
MEDIA
MEPI
MUCN
MEPP
MT
MERCOSUR
MW
MASSMNUC
MQADHAFI
NZ
NATO
NG
NI
NO
NATIONAL
NU
NPT
NIPP
NL
NPG
NS
NA
NGO
NP
NSG
NDP
NAFTA
NR
NC
NH
NE
NSF
NPA
NK
NSSP
NRR
NATOPREL
NSC
NT
NW
NORAD
NEW
NV
NSFO
NAR
NASA
NZUS
OTRA
OVIP
OPRC
OPDC
OSCE
OAS
ODIP
OIIP
OFDP
OVP
OREP
OFFICIALS
OSAC
OEXC
OPCW
OIE
OIC
OFDA
OSCI
OPIC
OBSP
OECD
ON
OCII
OHUM
OES
OCS
OMIG
OPAD
OTR
PGOV
PREL
PHUM
PINR
PTER
PSOE
PINS
PARM
PK
PBTS
PEPR
PM
POLITICAL
PARTIES
PREF
PBIO
PROP
PA
PSI
PINT
PO
PKFK
PL
PAK
PE
POLITICS
PINL
POL
PHSA
PU
PF
POV
PFOR
PHALANAGE
PARTY
PARMS
PRGOV
PNAT
POLINT
PRAM
PMAR
PG
PAO
PROG
PRELP
PPA
PCUL
PSEPC
PSA
PREO
PAHO
PGIV
PREFA
PALESTINIAN
PAIGH
POSTS
PTBS
PGOVLO
PORG
PGOVE
PLN
PINF
PAS
PUNE
POLICY
PDEM
PDOV
PCI
PGOVSMIGKCRMKWMNPHUMCVISKFRDCA
PBT
PHUMPGOV
PMIL
PNG
PP
PS
PHUH
PECON
POGOV
PY
PHUMPREL
PHUS
PRL
PGOC
PNR
PGGV
PROV
PTERE
PGOF
PHUMBA
PEL
RS
RU
RW
REGION
RP
RICE
ROBERT
RSP
RUPREL
RM
RO
RCMP
RSO
RELATIONS
REACTION
REPORT
RIGHTS
ROOD
RF
RFE
RIGHTSPOLMIL
SP
SA
SY
SF
SYR
SENV
SCUL
SOCI
SNAR
SO
SU
SG
STEINBERG
SHUM
SW
SMIG
SR
SZ
SIPRS
SI
SAARC
SPCE
SARS
SN
SYRIA
SANC
SL
SCRS
SC
SENVKGHG
SAN
SNARCS
SHI
SWE
SNARIZ
SIPDIS
SEN
SNARN
SPCVIS
SEVN
SSA
SH
SOFA
SK
ST
TPHY
TU
TRGY
TI
TX
TS
TW
TC
TFIN
TD
TSPA
TH
TT
TIP
TBIO
TSPL
TZ
TERRORISM
TRSY
TN
THPY
TINT
TF
TL
TV
TK
TO
TP
TURKEY
TNGD
TBID
TAGS
TR
UP
US
UNSC
UK
UZ
UE
UNESCO
UV
UNGA
UN
UNMIK
UNO
UY
UAE
UNEP
UG
UNHCR
UNHRC
USUN
UNAUS
USTR
USNC
USOAS
UNCHR
UNCSD
UNDP
USEU
USPS
UNDC
UNDESCO
UNCHC
UNFICYP
UNC
UNODC
UNPUOS
UNCND
UNICEF
UNCHS
UNVIE
USAID
UNIDROIT
Browse by classification
Community resources
courage is contagious
Viewing cable 10LISBON66, PORTUGAL: ACTION REQUEST FOR GUIDANCE ON PROPOSAL
If you are new to these pages, please read an introduction on the structure of a cable as well as how to discuss them with others. See also the FAQs
Understanding cables
Every cable message consists of three parts:
- The top box shows each cables unique reference number, when and by whom it originally was sent, and what its initial classification was.
- The middle box contains the header information that is associated with the cable. It includes information about the receiver(s) as well as a general subject.
- The bottom box presents the body of the cable. The opening can contain a more specific subject, references to other cables (browse by origin to find them) or additional comment. This is followed by the main contents of the cable: a summary, a collection of specific topics and a comment section.
Discussing cables
If you find meaningful or important information in a cable, please link directly to its unique reference number. Linking to a specific paragraph in the body of a cable is also possible by copying the appropriate link (to be found at theparagraph symbol). Please mark messages for social networking services like Twitter with the hash tags #cablegate and a hash containing the reference ID e.g. #10LISBON66.
Reference ID | Created | Released | Classification | Origin |
---|---|---|---|---|
10LISBON66 | 2010-02-12 13:01 | 2010-12-12 21:09 | CONFIDENTIAL//NOFORN | Embassy Lisbon |
VZCZCXRO2776
RR RUEHDBU RUEHFL RUEHKW RUEHLA RUEHNP RUEHROV RUEHSL RUEHSR
DE RUEHLI #0066/01 0431315
ZNY CCCCC ZZH
R 121315Z FEB 10 ZDK
FM AMEMBASSY LISBON
TO RUEHC/SECSTATE WASHDC 8115
INFO RUEHZL/EUROPEAN POLITICAL COLLECTIVE
RUEHBR/AMEMBASSY BRASILIA 0410
RUEATRS/DEPT OF TREASURY WASHDC
RUEAIIA/CIA WASHDC
RHEFDIA/DIA WASHDC
C O N F I D E N T I A L SECTION 01 OF 03 LISBON 000066
NOFORN
SIPDIS
TREASURY FOR OFAC
DEPT FOR IO/PSC AND EEB/ESC
DEPT ALSO FOR NEA/IR
E.O. 12958: DECL: 02/11/2020
TAGS: PINR ECON EFIN EUN PGOV PREL IR PO
SUBJECT: PORTUGAL: ACTION REQUEST FOR GUIDANCE ON PROPOSAL
TO ESTABLISH BANKING RELATIONSHIP WITH IRAN
REF: A. LISBON 52
¶B. 09 LISBON 146
Classified By: XXXXXXXXXXXX for reasons 1.4(b,d).
¶1. (U) This is an action request. See para 12.
¶2. (C/NF) Summary: In April 2009, officials of Millennium
BCP, Portugal's leading private bank, visited Iran at the
invitation of the Iranian Embassy in Lisbon and met with the
Central Bank and other entities in the financial sector to
discuss Iran's interest in establishing a business
relationship with Millennium. On February 5, Millennium
Executive Board Chairman Carlos Santos Ferreira discussed the
proposal with Poleconoff and its possible benefit to the USG.
While he claimed that the costs could outweigh the benefits
to Millennium, Ferreira is willing to establish a
relationship with Iran to help the USG track Iranian assets
and financial activities. Millennium has consulted with the
Bank of Portugal and senior government officials, and would
like our views on its proposed relationship with Iran and
Washington's interest in tracking Iranian accounts in
Portugal. We request Washington guidance; our recommendation
is that Millennium not pursue the relationship. However,
given that Ferreira may do so regardless of USG
recommendations, it might be prudent to maintain open
channels of communication with Ferreira. Post will track
developments and discourage deeper relations with Iran. (See
para 12.) End Summary.
¶3. (C/NF) On February 5, Poleconoff met with Carlos Santos
Ferreira, Chairman of the Executive Board of Millennium BCP
(formerly the Portuguese Commercial Bank), at the request of
Ferreira's advisor who is a longtime contact of the Embassy.
Ferreira discussed a proposal by the Iranian banking sector
to establish a relationship with Millennium to further trade
and commercial opportunities. He noted that Iran has other
options in Europe but may be interested in Portugal for its
less restrictive regulatory environment. (Iran already has
relations with various European banks, including HSBC,
Deutsche Bank, Danske, and Banque Commercial de Placement.)
Ferreira insisted that while the costs of the Iranian
proposal could outweigh the benefits to Millennium, the bank
would be open to establishing a relationship with Iran in
order to help the USG track the financial activities of the
Iranian government.
¶4. (C/NF) Early last year, the Iranian Embassy in Lisbon
contacted Ferreira, who had previous contact with that
embassy while serving as Chairman of the Board of Directors
of Oeiras Foundation (1987-1989), a state entity that he says
sold munitions to Iran more than 20 years ago. Millennium
Bank advised Prime Minister Socrates and senior government
officials, including the governor of the Bank of Portugal
(Portugal's central bank), of Iran's interest in establishing
a relationship with Millennium and having Millennium
officials visit Iran for meetings.
¶5. (C/NF) In April 2009, a few weeks after Portuguese MFA
Political Director Nuno Brito was in Tehran (Ref B), two
Millennium officials -- Jose Joao Guilherme, member of the
Executive Board of Directors who is responsible for the
bank's international portfolio, and Duarte Pitta Ferraz, Head
of the International Affairs Unit -- visited Iran for five
days at the invitation of the Iranian Embassy in Lisbon.
They met with senior representatives of the Central Bank,
seven banks (including three private banks), the Organization
for Investment, Economic, and Technical Assistance of Iran
(OIETAI), and the Portuguese Embassy to discuss EU
restrictions on Iran and potential business opportunities
within those constraints. The banks expressed interest in
establishing relations with Millennium in the traditional
areas of trade and finance.
¶6. (C/NF) Based on the meetings and information provided by
officials of the Iranian Central Bank and the Iranian
Ministry of Finance and Economic Affairs, Millennium selected
four priority banks for further consideration: the Export
Development Bank of Iran (EDBI), Bank Tejarat, Bank Parsian,
and EN Bank, which have SWIFT codes. The EU is currently
restricted by UN sanctions from doing business with Melli
Iran Bank and Saderat Iran Bank. According to Millennium
officials, no other Iranian bank is subject to UN sanctions.
LISBON 00000066 002 OF 003
In 2008 Iranian deposits in European banks totaled USD 46.7
billion, while foreign deposits in Iran decreased by USD 2.5
billion. France maintained a significant account, with USD
5.4 billion in Iranian banks. Iranian exports totaled USD
106 billion (80 percent from oil), while imports totaled U=H.QAfrica, and the Middle East.
According to the report, EDBI told Millennium officials that
Brazil is not overly concerned about respecting international
sanctions since "independent countries can make independent
decisions." (PROTECT)
¶8. (C/NF) Portugal has very few Iranian residents and very
little trade with Iran. Portugal's trade with Iran totals
less than 40 million euros per year, while Iranian oil
represents about 9 percent of Portugal's oil imports. In
January 2010, Brito told Under Secretary of State Burns that
Portugal had no intention of furthering its economic
relationship with Iran at this time. However, Portugal is
keeping its options open for future investments (Ref A).
¶9. (C/NF) Millennium anticipates engaging in the following
activities, which Ferreira insists are in compliance with EU
banking laws and regulations and UN sanctions, if it were to
agree to establish a relationsh/MQQ7#^QQQare not currently on any sanctions list and
in accordance with the condition above; (3) undertake
transactions on behalf of Iranian credit institutions with
additional monitoring and oversight mechanisms to prevent
money laundering and terrorism finance; and (4) continue to
conduct, on a case-by-case basis, operations of support to
client companies that export to Iran.
¶10. (U) Millennium BCP is Portugal's leading private
financial group and among the top 100 in the world, with
listings on more than 40 national and international stock
markets. It ranks second in Portugal in terms of market
share, credit, and client assets. (As of December 2008, it
had 2.6 million clients and an estimated 22 percent market
share.) Founded in 1985 as the Portuguese Commercial Bank,
it now boasts the largest presence in Portugal with 918
branches nationwide. It also has branches in the U.S.,
Europe and Africa, including Poland, Greece, Mozambique,
Angola, Romania, Switzerland, and Turkey. The Embassy has
been a Millennium client since 1997. Despite the financial
crisis and the weak Portuguese economy, the bank reported a
201 million euro profit in 2008. On February 10, it reported
a 12-percent increase in net profit in 2009, with 225 million
euros, helped by the sale of a nearly 50 percent stake in its
Angolan subsidiary. The GOP's state-run Caixa Geral de
Depositos has a small stake (2.5 percent as of June 2009) in
Millennium. A suspended member of the Millennium Executive
Board of Directors is under investigation, along with other
Portuguese political and business figures, for allegations of
corruption and influence peddling in a private business deal,
which does not involve the bank.
¶11. (U) Carlos Ferreira, Chairman of the Executive Board of
Directors of Millennium since January 2008, has extensive
experience in the banking industry. Previously, he served as
Chairman of the Board of Caixa Geral de Depositos, Chairman
of Caixa - Banco de Investimento, Chairman of Caixa Seguros,
and Member of the Board of the Steering and Strategy
Committee of Foment Invest, among other positions. He also
served as Member of Parliament for the Socialist Party and
Vice Chairman of the Parliamentary Committee on Security and
Health (1976-1977), member of the management board of
state-owned Airports and Aerial Navigation (ANA), member of
the Tax Reform Commission, and Chairman of the Board of
Directors of the Macau Airport Company. Born in Lisbon in
1949, Ferreira earned a law degree in 1971 from the Faculty
of Law of Classical University of Lisbon and subsequently
taught at his alma mater, as well as at the Faculty of Law at
Portugal's Catholic University and the Faculty of Economics
LISBON 00000066 003 OF 003
at the New University of Lisbon (1977-1988). He is a close
contact of the Embassy and an influential member of the
Portuguese banking sector. His son will soon be moving to
New York to work for Deloitte Touche.
¶12. (C/NF) POST RECOMMENDATION/GUIDANCE REQUEST: Ferreira
told us he would be willing to allow the USG to monitor the
Iranian accounts in Millennium in a manner to be mutually
agreed upon, and he seeks our views on such an arrangement.
Post recommendation is that our basic response to Ferreira be
that Millennium not pursue any relationship with any Iranian
entities. However, it is quite possible that Millennium will
pursue the relationship regardless of USG recommendations.
Therefore, post recommends that we maintain open channels of
communication with Ferreira in order to maintain some
visibility on the Iranian accounts should Millennium go ahead
and set them up. Post requests Washington guidance in
responding to Ferreira's proposal, as well as views on
Millennium's proposed relationship with Iran. While Ferreira
did not explicitly say so, post believes that the Portuguese
MFA is, at a minimum, aware of his approach to the Embassy.
Ferreira is open to further communication with post should
Washington need more information. Embassy ORA has cleared
this cable.
For more reporting from Embassy Lisbon and information about Portugal,
please see our Intelink site:
http://www.intelink.sgov.gov/wiki/portal:port ugal
BALLARD