Failure to comply with sanctions on Russia and Iran: the US Treasury in Turkey and the Gulf

The headquarters of the US Treasury Department in Washington.

AP - Jon Elswick

Text by: RFI Follow

2 mins

Brian Nelson, the US Treasury's top sanctions official, begins a five-day visit to Turkey, Saudi Arabia and Oman this Sunday, January 29.

The objective of this tour is to warn companies and governments of these three countries against attempts to circumvent American sanctions against Russia and Iran.

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Companies that work with entities subject to

US sanctions

risk losing access to the US market.

Here is the message that Brian Nelson, Under Secretary for Terrorism and Financial Intelligence, will pass on to businesses and banks in the region.

In particular, he will warn them to avoid the transfer of technologies which could be used by the Russian army.

Washington is also concerned about the circumvention of US sanctions against Iran.

The US administration has already imposed a series of sanctions on companies based in the United Arab Emirates for non-compliance with sanctions linked to the Iranian regime.

A policy of extraterritoriality

The United States constantly applies the policy of the extraterritoriality of its sanctions.

It allows Washington to sanction foreign companies present on American soil or to prohibit access to those who would like to do business with American companies.

Sometimes, this policy pays off big: the French bank BNP Parisbas, for example, has paid the price.

In 2014, it paid a

record fine of nearly $9 billion

for circumventing the US embargo on certain countries, including Cuba.

Brian Nelson is traveling to Oman, the United Arab Emirates and Turkey from January 29 to February 3.

The trip is the latest visit by a senior Treasury official to Turkey to discuss sanctions, following a series of warnings issued last year as

Washington ramped up pressure on Ankara

to ensure US restrictions were enforced. against Russia.

Brian Nelson's tour coincides with a period of tense relations between the United States and Turkey, the two NATO allies displaying their disagreement on a number of subjects.

(and with agencies)

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  • United States

  • Russia

  • Iran

  • Oman

  • Turkey

  • Saudi Arabia

  • Ukraine