US embassy cable - 03ROME1203

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Identifier:	03ROME1203
Wikileaks:	View 03ROME1203 at Wikileaks.org
Origin:	Embassy Rome
Created:	2003-03-21 18:12:00
Classification:	CONFIDENTIAL
Tags:	ECON EFIN ETTC PREL IT IZ EUN
Redacted:	This cable was not redacted by Wikileaks.

C O N F I D E N T I A L ROME 001203 
 
SIPDIS 
 
 
STATE FOR TFI201 - EB ACTION OFFICER; 
TREASURY FOR OFAC (NEWCOMB) 
 
E.O. 12958: DECL: 03/21/2013 
TAGS: ECON, EFIN, ETTC, PREL, IT, IZ, EUN 
SUBJECT: TFI201:  ITALY FREEZES IRAQI GOVERNMENT ASSETS 
 
REF: SECSTATE 74249 

CLASSIFIED BY: ECONOMIC MINISTER SCOTT KILNER FOR REASONS 1.5 (B) AND ( 
D) 
 
 1. (C) ECON COUNSELOR MET WITH GIUSEPPE MARESCA, FINANCE 
MINISTRY DIRECTOR FOR FINANCIAL CRIMES, ON THE MORNING OF 
MARCH 21 TO DISCUSS REFTEL REQUEST.  MARESCA'S IMMEDIATE 
RESPONSE WAS "THE ITALIAN GOVERNMENT WILL DO THIS. WE SIMPLY 
HAVE TO DECIDE THE BEST MECHANISM."  THE FASTEST AND EASIEST 
WAY, HE SAID, WOULD BE EU ACTION.  IN ANY CASE, MARESCA 
STATED, HE WOULD DISCUSS THIS WITH HIS COLLEAGUES IN THE MFA 
AND CENTRAL BANK AND WORK OUT A JOINT PLAN OF ACTION. 
MARESCA ADDED THAT THE VALUE OF IRAQI ASSETS IN ITALY WAS 
WELL BELOW THE VALUE CITED IN THE UN FIGURE. 
 
2. (C) POLITICAL MINISTER RAISED THE REQUEST ON THE AFTERNOON 
OF MARCH 21 WITH MINISTER ANTONIO BADINI, MFA DIRECTOR 
GENERAL FOR THE MIDDLE EAST.  BADINI SAID THAT THE ORDER HAD 
GONE OUT THAT SAME MORNING (SOON AFTER OUR MEETING WITH 
MARESCA) TO FREEZE ALL IRAQI ASSETS.  BADINI CONFIRMED THAT 
THE VALUE OF IRAQI ASSETS IN ITALY WAS FAR LESS THAN THAT 
CITED REFTEL. 
SEMBLER 
 
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 2003ROME01203 - Classification: CONFIDENTIAL