SANCTIONS imposed on four Malaysian-based companies which allegedly helped Iran in the production of drones are still in place, said an official from the United States Treasury.

“The sanctions have been impactful and will only be removed once the department notices strong behavioural changes.

“These sanctions are a powerful tool and effective in disrupting activities meant to drive profits or provide capital,” said Brian Nelson, the department’s undersecretary for terrorism and financial intelligence.

The US Treasury imposed sanctions on the four Malaysia-based companies in December for allegedly providing components for Iran’s weapons programme.

Reuters earlier reported that a top sanctions officer from the US will be in Malaysia and Singapore as Washington sought to combat funding for Iran and its proxy groups.

The source, speaking on condition of anonymity, said there has been an uptick in money moving to Iran and its proxies, including Hamas, through the Malaysian financial system.

The visit comes as the US Treasury has increased its focus on terrorist financing through Southeast Asia, including through fundraising efforts and illicit Iranian oil sales, the source said.

Meanwhile, Home Minister Saifuddin Nasution Ismail said he will meet Nelson tomorrow to listen to matters the latter wanted to raise.

“At the end of listening to their presentation, I will give an official explanation on the matters raised,” he said.

US Ambassador to Malaysia Edgard D. Kagan had also earlier said that the visit by US Treasury Department officials will be in the spirit of partnership to discuss common threats. - The Vibes, May 9, 2024.