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Confirmation of Treasury Counterterrorism Chief May Be Delayed Over Iran Regulations Dispute
By Brian Monroe
printA rift between seven Republican lawmakers and the U.S. Treasury Department over financial regulations aimed at Iran is likely to delay the nomination of a new federal counterterrorism chief, according to analysts. The senators said in a letter Tuesday that Assistant Secretary for Terrorist Financing David Cohen must explain how the department has implemented the Comprehensive Iran Sanctions, Accountability, and Divestment Act (CISADA) before they will confirm his nomination as the Under Secretary for Terrorism and Financial Intelligence. On April 27, the department issued proposed regulations on CISADA widely seen as a step back from potentially stronger compliance requirements for...
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The authors of a U.S. embargo against Iran's central bank and petroleum industry called on the White House Thursday to be strict with foreign financial institutions under the law's statutes.
A U.S. official's threat last month of economic sanctions against four Chinese banks is likely to be toothless given economic and enforcement hurdles, say sanctions analysts.
The U.S. Treasury Department finalized regulations Wednesday requiring banks to ask their correspondent financial institutions about accounts tied to Iran when requested to do so by U.S. officials.
U.S. efforts to clamp down on terror financiers have been largely a success, a federal official told American lawmakers at a hearing in downtown Manhattan Tuesday.
The Senate Thursday named David Cohen the nation's top sanctions official after legislators agreed to end a standoff over the U.S. Treasury Department's implementation of financial measures aimed at Iran.
New European sanctions against Iran show how secrecy jurisdictions and trade concerns have compromised efforts to inhibit the Islamic Republic's financial reach, say analysts.
A congressional measure aimed at Iran could spell new compliance duties for U.S. financial institutions, including requiring banks to certify that their correspondent institutions don't maintain accounts for blacklisted Iranians.
The United States will sanction Turkish and Venezuelan banks as early as next week for knowingly processing transactions tied to designated Iranian entities, according to individuals familiar with the matter.
The U.S. Treasury Department proposed rules Wednesday that would require banks to inform the government of whether their foreign counterparts hold accounts for blacklisted Iranian institutions and organizations.
China and other U.S. trading partners continue to provide Iran with energy and banking services five months after the passage of new comprehensive sanctions against the country, lawmakers said Wednesday.