sanctions
02 February 2023
Nelson visits Middle East to reinforce sanctions message
OFAC has announced that US Under Secretary of the Treasury for Terrorism and Financial Intelligence, Brian E. Nelson began a visit this week to the Middle East. His schedule will take in ‘Muscat, Oman; Abu Dubai and Dubai, United Arab Emirates; and Ankara and Istanbul, Türkiye. At each stop, he will discuss Treasury’s efforts to crack down on Russian attempts to evade the international sanctions and export controls imposed for its brutal war against Ukraine, Iran’s destabilizing activity in the region, illicit finance risks undermining economic growth, and foreign investment.’
It added, ‘In the UAE and Türkiye, Under Secretary Nelson will meet with government counterparts as well as businesses and financial institutions to convey that Treasury will continue to aggressively enforce its sanctions, and individuals and institutions operating in permissive jurisdictions risk potentially losing access to G7 markets on account of doing business with sanctioned entities or not conducting appropriate due diligence to guard against illicit finance risks.’
