VZCZCXYZ0020
RR RUEHWEB
DE RUEHSW #1043 3020925
ZNR UUUUU ZZH
R 290925Z OCT 07
FM AMEMBASSY BERN
TO RUCNDT/USMISSION USUN NEW YORK 0160
RUEHC/SECSTATE WASHDC 4634
RUEHBS/USEU BRUSSELS
RUEHGV/USMISSION GENEVA 2780
RUEATRS/DEPT OF TREASURY WASHINGTON DC
UNCLAS BERN 001043
SIPDIS
SENSITIVE
SIPDIS
E.O. 12958: N/A
TAGS: KNNP PREL PARM EFIN IR SZ
SUBJECT: SWISS APPRECIATE INFORMATION ON NEW IRAN
DESIGNATIONS, BUT CAN'T ACT WITHOUT A UNSCR
REF: SECSTATE 148605
1. Emboff delivered reftel points and non-paper to Dieter
Cavalleri, Federal Department of Foreign Affairs, Director,
International Law Division, on October 26. Cavalleri said he
would immediately provide the relevant Swiss ministries with
the information and would also provide the Swiss Federal
Banking Commission with the details. He caveated the Swiss
"action" by reminding Emboffs that the Swiss government can't
implement the new USG sanctions without a United Nations
Security Council Resolution mandating international action.
2. Cavalleri noted that while the Swiss government is
precluded from acting, Switzerland's two largest banks (UBS
and Credit Suisse) and the Swiss Bankers Association are free
to implement the new USG Iran sanctions. He added that UBS
and Credit Suisse likely have the new entities in their
screening software already.
CONEWAY