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US official visits region to warn against sanctions evasion

29 Jan 2023

Muscat – H E Sheikh Khalifa Ali al Harthy, Undersecretary for Diplomatic Affairs in the Foreign Ministry, met Brian Nelson, US Undersecretary of the Treasury for Terrorism and Financial Intelligence, on Sunday.

In a statement, the US Department of Treasury said that Nelson will travel to Muscat, Abu Dubai and Dubai in the UAE, and Ankara and Istanbul in Turkiye during the week of January 29.

‘At each stop, he will discuss the Treasury’s efforts to crack down on Russian attempts to evade international sanctions and export controls imposed for its brutal war against Ukraine, Iran’s destabilising activity in the region, illicit finance risks undermining economic growth, and foreign investment.’

In Oman, Nelson will meet counterparts to discuss cooperation on countering illicit finance, including terrorist financing.

The official will also warn countries and businesses that they could lose access to G7 markets if they do business with entities subject to US curbs.

‘In the UAE and Turkiye, Nelson will meet government counterparts as well as businesses and financial institutions to convey that the 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.’

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