This is vaguely amusing

Via, we find out that Press TV\’s bank account has been frozen.

What amuses is that one of my appearances on the channel was precisely to talk about the freezing of Interpal\’s account.

Two years ago, the Palestinian charity Interpal suffered almost precisely just such a business attack. Interpal still has major banking problems because their account with Islamic Bank of Britain has no external clearing facilities. Basically, banks can pick and choose who they hold accounts for, and can close accounts without any reasons being given and with no right of appeal.

The reason being bandied about back then was that Interpal was, under US banking law, considered to be financing or aiding naughty stuff in some manner. Which meant that a UK bank which offered them an account could lose its US licence to operate.

I would assume, but have no real idea about it, that something similar has happened here. Perhaps some effect of US sanctions against Iran means that NatWest fears that providing Press TV with an account could threaten their USD interests.

I\’d just go one step further and point out that insisting upon greater regulation of the banking system might not lead to results that all lefties devoutly desire.

One comment on “This is vaguely amusing

  1. Just as likely, imho, is that the directors of NatWest fear – with reason – that they might be dragged off to the US in chains, with no evidence of any wrongdoing being necessary or provided.

    Tends to concentrate the mind, that sort of thing.

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