Home Minister Datuk Seri Saifuddin Nasution Ismail has reaffirmed the country’s stance on recognizing only sanctions imposed by the United Nations Security Council (UNSC).
This statement comes in response to claims made by the US Treasury Department’s Under Secretary for Terrorism and Financial Intelligence Brian Nelson, who suggested that Iran has been relying on Malaysian service providers to sell US-sanctioned oil in the region.
During a meeting with Nelson, Saifuddin emphasized Malaysia’s commitment to combating terrorism financing and tackling illicit financial activities.
However, he also made it clear that Malaysia, as a sovereign nation, will only adhere to sanctions imposed by the UN and not by individual countries.
This morning I received a special visit from Brian E. Nelson, US Department of The Treasury's Under Secretary for Terrorism and Financial Intelligence in my office.
At the beginning of the discussion earlier, I had shared information from Brian Nelson. The United States has also detailed some matters related to individual organizations or companies in Malaysia.
However, I received all the information well and we will do all the verification at the Malaysian government level.
I also had time to convey Malaysia's position to the Malaysian American Government. In other words, I mentioned that it is our policy that it is not easy to "recognize sanctions" made by an individual country.
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BLOOMBERG on a new US push to enforce oil sanctions against Iran, focusing on illegal Iranian sales via Malaysia:
“American officials are meeting oil industry executives, regulators and financial institutions in Singapore and Malaysia this week to prop up US efforts to tighten restrictions on Iranian crude exports and to curb Russia’s ability to keep funding its costly war in Ukraine.
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Iran has been the main focus, however, given its historic ties to countries like Malaysia and the tighter restrictions on Tehran introduced by the US in response to an on Israel last month and support for groups like Hamas. A package of measures signed into law last month promises to extend coverage to include foreign ports, vessels and refineries that knowingly process or ship Iranian crude.
The new restrictions also expanded so-called secondary sanctions to cover all transactions with sanctioned Iranian banks used to purchase petroleum and oil-derived products.
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Among other steps, the US team has pressed for action on money-laundering and raised the issue of risks associated with older vessels in the so-called “dark fleet.” In May last year, a 26-year-old oil tanker capable of carrying 700,000 barrels of oil exploded off the coast of Malaysia. It was empty at the time.
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No Iranian oil has been imported by China since mid-2022, according to official Chinese customs data.
In reality, China has taken an average of 1.2 million barrels a day of crude from Iran since the beginning of 2023, according to data compiled by Kpler. These flowsare often passed off as cargoes originating elsewhere — including Malaysia.”
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