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Banca Etica Suspends A/I's Account While Condemning the Sanctions Behind It

https://sabot.media/post/banca-etica-statement-english
20•rendx•3h ago

Comments

alqph•51m ago
The ground works for debanking were laid when all of the mainstream press cheered on the debanking of Canadian truckers.

Now their opponents use it and it gets very little press coverage.

It needs to stop. I would not do well in this autistici.org group and they'd probably kick me out on some CoC grounds with their draconian rules and social pressure, but I still cannot get over the fact that you can just destroy a service provider with very little evidence.

All parties need to stop this.

Maken•30m ago
Why do you think the "mainstream press" and "A/I" are in the same side? Because I don't see two parties here, but rather governments using the financial system to suppress opposition.
mdp2021•28m ago
> very little press coverage

It may be apparent to some that some of us browse lots of news: we can say that the more powerful ones are not the most visible. You have to check carefully, to find the "historic milestones" ones.

> they'd probably kick me out

Many of us know they would not accepted given some possible inerpretation of their rules, but we really do not know - who tried?

> you can just destroy a service provider with very little evidence

The whole banking system of a State, and a State itself, some say.

PavleMiha•21m ago
I often read things like this, and then I go look and don't quite see the cheering:

https://www.cbc.ca/news/politics/emergencies-act-banks-ottaw... https://www.bbc.co.uk/news/world-us-canada-60383385 https://www.businessinsider.com/trudeau-canada-freeze-bank-a... https://www.newsweek.com/banks-have-begun-freezing-accounts-... https://www.nytimes.com/2022/02/22/world/americas/canada-pro...

Maybe we have different ideas of what the mainstream press is? These all seem pretty normal articles, most note what critics are saying of the measures.

buran77•36m ago
> The Italian bank says A/I’s account showed no previous anti-money-laundering concerns—but fears U.S. secondary sanctions could endanger services for 130,000 customers and members.

> Banca Etica strongly condemns the use of counterterrorism tools to target political opponents. Evaluations are underway to prevent the closure of the bank account following A/I's inclusion on the US list of terrorist organizations.

This isn't the usual debanking as a political statement, but rather the bank trying not to be sanctioned by the US, a country already bleeding all its soft power and veering heavily into hard power and coercion.

The sanctioning of the ICC prosecutor already showed beyond any doubt the level of moral bankruptcy. The beatings will continue until morale improves.

impossiblefork•20m ago
The ICC has tools for countering this kind of thing though.

They can order anyone who impedes them seized and handed over for judgement to the ICC, including bank CEOs and the like participating in retaliatory measures against them. They haven't done this, presumably for political reasons, but they can.

rendx•9m ago
Sources? When I look at the law and their mandate, it sure looks like they can't. That's not part of their soft powers. They can excusively go after a very narrow band of criminal acts.
impossiblefork•2m ago
"Article 70 - Offences against the administration of justice

Offences against the administration of justice

[...]

(c) Corruptly influencing a witness, obstructing or interfering with the attendance or testimony of a witness, retaliating against a witness for giving testimony or destroying, tampering with or interfering with the collection of evidence;

(d) Impeding, intimidating or corruptly influencing an official of the Court for the purpose of forcing or persuading the official not to perform, or to perform improperly, his or her duties;

(e) Retaliating against an official of the Court on account of duties performed by that or another official;"

So I'd say 70 (e) covers the sanctions imposed on those court officials. They are clearly officials of the court, and the sanctions are clearly part of retaliation against them. Consequently it stands to reason that anyone who participates in their enforcement is can in principle be prosecuted.

mdp2021•19m ago
> an Italian bank maintaining relationships with an OFAC-listed entity could be subject to "secondary sanctions" that would involve the cessation of all services provided by US intermediaries. This would mean that all Banca Etica customers would be unable to use credit and debit cards (which currently rely on a substantial monopoly by US operators)

«A substantial monopoly by US operators»: very strong words, very important words: those "US operators" are the part that is responsible for having destroyed monetics in the eu - the part that forced NFC on bank cards.

Of course the problem should have been solved immediately. now we have banks with crippled services here.

impossiblefork•16m ago
I think what's needed here is for A/I to go the ECHR.

A state failing to prevent foreign sanctions from restricting the freedom of association of its citizens is certainly a breach of article 11. It doesn't matter whether it's caused by a foreign state, the duty of Italy is clearly to ensure freedom of association in practice.

mdp2021•18m ago
> The sanctioning of the

An informative note: Banca Etica did protest against that.

A Note from LWN

https://lwn.net/Articles/1090585/
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Banca Etica Suspends A/I's Account While Condemning the Sanctions Behind It

https://sabot.media/post/banca-etica-statement-english
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