White House putting on the pressure
Photo: Reuters
USD 70 million stuck in Cairo (top)
Photo: AP
U.S. pressures Arab banks over PA
Newsweek says Bush Administration exerting pressure on Middle East banks in attempt to prevent money transfers to Hamas-led Palestinian Authority. USD 70 million from Qatar and Saudi Arabia stuck in Cairo, reports says
WASHINGTON - The U.S. administration is exerting pressure on Arab banks in an attempt to prevent money transfers to the Hamas-led Palestinian Authority. Several banks in Cairo, Egypt have already caved in to the pressure by refusing to transfer contributions by Arab nations Authority.
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The American weekly Newsweek reported on Sunday that the U.S. is working behind the scenes to ensure that funds, from any country, are not transferred to the Hamas government. The U.S. is reportedly pressuring Middle-East banks to reject clients who request to transfer money to the PA.
Some banks have already rejected requests to transfer money to the PA. The banks fear that a direct funds transfer to the PA will single them out for an American ban, a move which will prevent them from doing further business with the U.S.
American-Israeli plan to hinder Hamas gov't?
According to Newsweek, a contribution of USD 70 million from Qatar and Saudi Arabia is "stuck" in Cairo after four different banks refused to transfer the money to Ramallah.
The American aim is to impose a financial blockade on the PA, which will deny the PA from properly managing its institutions.
The Washington Post previously reported of an American-Israeli plan to hinder the Hamas government from successfully managing the PA, in a bid to promote re-elections in the Palestinian Authority within a few months. The American administration has refuted the report at the time.
