News

The White House plans to use a presidential decree issued in the wake of the Sept. 11 attacks more expansively against the leaders, recruits and financial facilitators of any group deemed a terrorist organizations by the U.S. Under revisions to Executive Order 13224 announced Tuesday, the Treasury Department can now limit or outlaw the provision of U.S. correspondent accounts to foreign banks caught transacting with Palestine's Islamic Jihad, al-Shabaab in Africa, Tehrik-e Taliban in Pakistan and other "specially designated global terrorists." U.S. officials already had the ability to impose secondary sanctions on banks that knowingly process significant transactions for Lebanese...