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Edition: U.S. Article Comments (5) Save Email Print Reprints Most Popular Most Shared Credit cards implicate Mossad in Dubai hit: report 20 Feb 2010 Bad economies in states to worsen: governors 20 Feb 2010 "Hurt Locker," "Up in the Air" win key film awards 12:21am EST Bad news for record lottery "winner" 16 Feb 2010 White House to publish healthcare proposals Monday 20 Feb 2010 Bad economies in states to worsen: governors 20 Feb 2010 Iggy Pop and Stooges prepare for "Power" play 20 Feb 2010 Microsoft steps up search assault on Google 19 Feb 2010 Ammann wins a record fourth gold 20 Feb 2010 Credit cards implicate Mossad in Dubai hit: report 20 Feb 2010 Ecuador says Iran ties landed it on laundering list Andrew Cawthorne SANGOLQUI, Ecuador Sat Feb 20, 2010 4:11pm EST Related News US Treasury backs listing threats to financial system Fri, Feb 19 2010 Iran asks IMF help with law against terror funding Thu, Feb 18 2010 Group to reveal laundering, terror funding blacklist Wed, Feb 17 2010 Clinton: Iran moving toward military dictatorship Mon, Feb 15 2010 UPDATE 2-Siemens says to reject new orders from Iran Tue, Jan 26 2010 Ecuador's President Rafael Correa talks to media during a news conference with Venezuela's President Hugo Chavez in Caracas in this October 7, 2009 file photo. Credit: Reuters/Carlos Garcia Rawlins SANGOLQUI, Ecuador (Reuters) - Ecuador's inclusion on an international list of nations accused of lagging in the fight against money laundering is a hypocritical punishment for its relations with Iran, Ecuador's president said on Saturday. World "What arrogance! And why? Because we have relations with Iran. That's it," Rafael Correa said at his weekly town hall meeting. "This is imperialism in its most base form. ... This has nothing to do with the struggle against money laundering." The Paris-based Financial Action Task Force, or FATF, comprising governments and regional organizations, named Ecuador this week among Iran and others as nations failing to comply with international regulations against money laundering and financing terrorism. Under the leftist Correa, Ecuador has strengthened diplomatic and commercial ties with Iran, which has opened an embassy in Quito and is forging wider relations across Latin America despite the concerns of Washington. The United States and its European allies have been trying to pressure Iran to suspend its disputed nuclear program, which the West fears is a cover to build bombs. Tehran says it is for peaceful purposes. "We have been blacklisted along with Iran, Ethiopia, Angola and North Korea. We are the financiers of terrorism in the world!" Correa said indignantly. "It's a stick so you don't misbehave, naughty boy. You didn't do what I said, don't get involved with Iran. So because you went ahead, we'll put you on the blacklist, that's all." The FATF said in its report, released on Thursday, that Ecuador had not "constructively engaged" with it and had "not committed" to global standards on money crimes. 'HUGE LIE' The combative and charismatic Correa, 46, has run the small South American nation since 2007 and is part of a regional alliance of leftist leaders including Venezuela's Hugo Chavez. While enjoying high popularity for his social policies, Correa has had difficult ties with foreign investors, defaulting on more than $3 billion debt in 2008 and ordering the renegotiation of contracts with oil companies. Correa said Ecuador's two dozen banks had perfectly adequate legislation to protect against laundering and terrorism financing and dismissed the report as "a huge lie." Drawing cheers from his audience, Correa asked why nobody had mentioned Brazil, which also has growing ties with Iran and hosted President Mahmoud Ahmadinejad late last year. He said international authorities should put pressure instead on rich nations like the United States and Switzerland over money laundering in their financial systems. The Ecuadorean leader was speaking in his weekly televised address, this time in the highland town of Sangolqui outside Quito. He arrived and departed in a wheelchair, waving to the crowd, after a knee operation in Cuba last week. Ecuador's private bank association also said on Friday it thought the Iran factor was behind the nation's inclusion on the FATF list. It noted a 2009 agreement between Ecuador's Central Bank and some Iranian financial institutions. "But you know how much money we have received from Iran up to now? Zero," said Correa, insisting Ecuador would maintain relations with whomever it wanted. In a three-hour speech punctuated by jokes and music, Correa played a clip from the U.S. ambassador in Ecuador praising the nation's record on fighting drugs. He vowed to seek regional support against the FATF in next week's Rio Group summit in Mexico. (Additional reporting by Alexandra Valencia; Editing by Peter Cooney) World Comments See All Comments (5) | Post Comment Feb 20, 2010 10:20pm EST the UN should charge muslims with inciting hatred and discrimination against non-muslims,,, and crimes against humanity,,, wrongatlarge Report As Abusive Feb 20, 2010 10:20pm EST islamic apartheid,,, The Evils of Islamic Political Ideology: Oppression of non-Muslims http://www.rightsidenews.com/200906014988/homeland-security/the-evils-of-islamic-political-ideology-oppression-of-non-muslims.html wrongatlarge Report As Abusive Feb 20, 2010 10:20pm EST THIS IRANIAN HAS A GOOD IDEA!!! Ali Sina, an ex-Muslim from Iran. He is the creator of Faithfreedom.org. Yet I know that by eradicating Islam we can save the world from the dangers of a catastrophe that otherwise is looming over our heads and could cause more disaster than the 1st and 2nd World Wars combined. Eradication of Islam means restoring peace among humanity and civility, democracy and prosperity in the Muslim world. http://www.faithfreedom.org/Articles/sina/why_i_left_islam.htm wrongatlarge Report As Abusive Feb 20, 2010 10:35pm EST terrorislam wants peace,,, a piece of your country that is,,, and another piece,,, and another piece,,, and another piece,,, until they have the world,,, they are always going into some country and then saying they want another terrorislamic state,,, http://www.terrorismawareness.org/what-really-happened/ stop them now before it is too late,,, wrongatlarge Report As Abusive Feb 20, 2010 11:25pm EST Terrorism and Drug Cartels go hand in hand. http://storyburn.com has the most read financial fraud story involving a mexican cartel and a high profile money manager in NJ. Delta flight 253 details from a flight attendant are there as well. muchstardude Report As Abusive See All Comments (5) Add a Comment More from Reuters Reviewers urge Glaxo's Avandia come off market WASHINGTON (Reuters) - Two U.S. drug safety reviewers have recommended that GlaxoSmithKline PLC's diabetes drug Avandia be pulled from the market after concluding it is more dangerous to the heart than a rival medicine, according to documents released on Saturday. Former Nixon aide, Alexander Haig dead at 85 | Video White House to publish healthcare proposals Monday Up to 25 billion euros in aid mulled for Greece: report Bad economies in states to worsen: governors Ecuador says Iran ties landed it on laundering list » More Top News Food & Wine: Ritzy ramen tops $100 Japan's everyday comfort food goes upscale at a Tokyo restaurant. Video | Full Article Macho TV chefs change kitchens Too good to be cru? Lifestyle Vancouver 2010: Winter Olympic Games Hockey, speedskating and Alpine skiing dominate the schedule during weekend action as the Winter Games continue in Vancouver. Full Coverage Olympic lingo has been "sick" Olympics Notebook: Vancouver 2010 2010 winter olympics © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts.com Buyouts Europe: Buyouts Conferences: Venture Capital Journal EVCJ International Financing Review International Securitisation Report Project Finance International PEhub.com PE Week Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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