MEDIA NOTICE: Terrorism and Financial Intelligence Undersecretary Brian Nelson to Travel to Singapore and Malaysia

WASHINGTON – Starting May 6^th to May 9^th, Treasury Undersecretary for Terrorism and Financial Intelligence Brian Nelson and Treasury General Counsel Neil MacBride will travel to Singapore and Malaysia to advance Treasury’s work in combating terrorist financing and generating revenue from part of Iran and its representatives, as well as to discuss the implementation of sanctions and Export Controls against Russia. The Treasury has imposed significant sanctions on Iran and its terrorist proxies, such as Hezbollah, Hamas and the Houthis, to cut off financial flows that fuel instability in the Middle East. Since early this year, Treasury has taken several important steps to combat and disrupt the illicit shipment of Iranian oil to buyers in East Asia, including shipments via ship-to-ship transfers in international waters near Singapore and Malaysia. The Treasury has continued to work with the US private sector to prevent the diversion of dual-use goods to Russia.

In Malaysia, Undersecretary Nelson and General Counsel MacBride will discuss U.S. efforts to disrupt terrorist financing, including through fundraising for fraudulent charities and illicit oil sales, while ensuring that U.S. and other sanctions financial measures do not impede the flow of humanitarian aid. to Gaza. They will also meet with the financial sector to discuss compliance and enforcement efforts.

In Singapore, Treasury officials will continue coordination with this close U.S. partner on sanctions and export controls against Russia for its brutal war of aggression in Ukraine, including by enforcing the Russian oil price cap and halting transshipment. Russian critical dual-use goods. . They will also meet with business representatives from the financial and maritime sectors to discuss compliance and law enforcement efforts to reduce Russian revenues from oil sales and protect the industry from risks from Russian and Russian-linked suppliers. who have sacrificed quality and safety in their services.

Finally, Under Secretary Nelson and General Counsel MacBride will continue to coordinate efforts to disrupt the DPRK’s revenue generation, particularly revenue generated through cybercrime and the use of virtual assets. They will also discuss ways to improve global implementation of Financial Action Task Force standards related to virtual asset service providers to prevent illicit actors from abusing the international financial system.

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