Singapore, Malaysia to get visit from US treasury official to discuss sanctions on Iran, and Russian oil
- A source said there has been an uptick in money moving to Iran and its proxies, including Hamas, through the Malaysian financial system
- While in Singapore, Brian Nelson will discuss enforcement of a G7-led price cap on Russian oil as well as cutting off the transshipment of critical goods
The US Treasury Department’s top sanctions official will travel to Singapore and Malaysia next week, a source familiar with the matter told Reuters, as Washington seeks to combat funding for Iran and its proxy groups as well as evasion of its sanctions on Russia.
The source, speaking on condition of anonymity, said there has been an uptick in money moving to Iran and its proxies, including Hamas, through the Malaysian financial system.
During the visit, first reported by Reuters, Treasury’s undersecretary for terrorism and financial intelligence, Brian Nelson, is expected to discuss US concerns and the sanctions risk such activity poses, the source said. Treasury’s general counsel, Neil MacBride, will also be on the trip.
The visit comes as Treasury has increased its focus on terrorist financing through Southeast Asia, including through fundraising efforts and illicit Iranian oil sales, the source said.
The Treasury Department in December imposed sanctions on four Malaysia-based companies it accused of being fronts supporting Iran’s production of drones.