The top U.S. sanctions official will give a warning to countries and businesses while in Turkey and the Middle East next week. The purpose of the trip is to warn that engaging in business with entities subject to U.S. restrictions could result in the loss of access to the U.S. market, as Washington cracks down on Russian efforts to circumvent sanctions.
From January 29th to February 3rd, Undersecretary for Terrorism and Financial Intelligence Brian Nelson will visit Oman, the United Arab Emirates, and Turkey to meet with government officials, businesses, and financial institutions to restate that Washington will keep going to vigorously impose its sanctions.
If they do business with sanctioned entities or don’t conduct appropriate due diligence, “individuals and institutions operating in permissive jurisdictions risk potentially losing access to U.S. markets,” a Treasury spokesperson told Reuters.
After Washington increased pressure on Ankara last year, Treasury and Commerce Department officials gave a series of warnings and this trip will be done to ensure that U.S. restrictions on Russia are enforced.
Washington is also concerned about evasion of U.S. sanctions on Iran.
Last month, the U.S. government put restrictions on a Turkish businessman, who was accused of helping Iran’s Revolutionary Guard Corps launder money from oil sales and other illegal activities.
The U.S. has imposed a number of sanctions on UAE-based companies due to their involvement in Iran’s sanctions evasion.
