The United States sees Iran\u2019s capacity to move its oil as reliant on service providers based in Malaysia, with oil being transferred near Singapore and throughout the region, the U.S. Treasury Department\u2019s top sanctions official said on Tuesday.
\nBrian Nelson, Treasury\u2019s undersecretary for terrorism and financial intelligence, was speaking during a four-day visit to Singapore and Malaysia, which the department said aimed to advance its work in countering financing and revenue generation by Iran and its proxies.
\nThe trip comes as Treasury increases its focus on financing for militant groups routed through Southeast Asia, including through fundraising efforts and illicit sales of Iranian oil.
\nNelson told reporters the United States was trying to prevent Malaysia from becoming a jurisdiction where the Palestinian militant group Hamas could both fundraise and then move money.
\nHe said the United States saw Iranian oil being transferred near Singapore and throughout the region.
\nLast December, Treasury imposed sanctions on four Malaysia-based companies it accused of being fronts supporting Iran\u2019s production of drones.
\nNelson also said sanctions and export controls against Russia were seeing progress, saying the Russian oil price cap was reducing Moscow\u2019s capacity to profit from oil sales while preserving the stability of global energy markets.
\nSingapore is a major shipping hub. Insurance and other maritime service providers operating in Singapore have warned of evasion of the price cap on Russian oil, complaining that it is difficult to confirm that paperwork promising oil is bought at or below the $60 cap is accurate.
\n(Reuters)Oil transfer in Southeast Asia. Iran’s oil capacity, service providers, Malaysia<\/p>\n","protected":false},"excerpt":{"rendered":"
The United States is concerned about Iran’s oil being moved with the help of service providers based in Malaysia, particularly near Singapore. Treasury official Brian Nelson visited Singapore and Malaysia to counter Iran’s financing and revenue generation efforts in Southeast Asia. Treasury imposed sanctions on Malaysia-based companies supporting Iran’s drone production. Nelson also mentioned progress in sanctions against Russia, affecting Moscow’s oil sales and global energy markets. Shipping hub Singapore faces challenges in verifying compliance with the Russian oil price cap.<\/p>\n","protected":false},"author":5,"featured_media":10905,"comment_status":"open","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[403,6595,2134,33,1776,1232,358,4537,4085,298,7818,146,9107,7962,8297,712,34,7089,2628,3091,4434,5076,3352,5838,8872,2247,3840,5612,6334,19,6106,331,4441,9108,796,4951,4613,382,618,973,544,380,173,4100,18],"class_list":["post-10904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-asia","tag-capacity","tag-challenges","tag-companies","tag-compliance","tag-drones","tag-energy","tag-financing","tag-fundraising","tag-hamas","tag-insurance","tag-iran","tag-irans-oil-capacity","tag-jurisdiction","tag-malaysia","tag-maritime","tag-markets","tag-militant","tag-money","tag-moscow","tag-nelson","tag-oil","tag-oil-price","tag-price","tag-production","tag-profit","tag-progress","tag-revenue","tag-revenue-generation","tag-russia","tag-sales","tag-sanctions","tag-service","tag-service-providers","tag-shipping","tag-singapore","tag-southeast-asia","tag-terrorism","tag-top","tag-treasury","tag-united-states","tag-us","tag-usa","tag-visit","tag-world"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\n