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Treasury Official To Travel To UAE, Israel To Discuss Iran Sanctions

David Cohen, the U.S. Treasury Department’s undersecretary for terrorism and financial intelligence, will travel next week to the United Arab Emirates and Israel to discuss recent measures taken against Iran and Syria.

Brendan Hoffman/Getty Images
Treasury Undersecretary for Terrorism and Financial Intelligence David Cohen testifies on Capitol Hill Oct. 13, 2011, in Washington, D.C.

The trip to discuss sanctions, Cohen’s third in seven months, comes days after the U.S. found the entire Iranian banking sector — including the central bank — a “primary money-laundering concern” under the Patriot Act, a distinction not used against an entire jurisdiction since 2003. The finding doesn’t freeze assets but it does notify anyone conducting any financial transaction with a designated entity of the risks entailed therein, something a senior administration official said Monday he thinks is going to “create a serious chilling effect on the willingness of any foreign financial institution anywhere in the world to…to continue to do business with Iran.”

Cohen will meet with senior government officials in each country to discuss “additional steps the international community can take to further isolate and impose pressure on Iran,” including options the U.S. is exploring, such as “possible financial measures targeting the Central Bank of Iran,” Treasury said in a statement.

He will also discuss efforts Treasury says Syria is taking to circumvent U.S. and European Union sanctions aimed at halting the deadly crackdown on protesters by Syrian President Bashar al-Assad. The United Nations estimates more than 3,500 people have been killed by the Assad regime.

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    • Who and where to condense this summer on festival, appropriation your information.

    • David Cohen is a pathetic and sadistic imitation of a human being, just like his predecessor Stuart Levey. His whole purpose in life is to destroy the Iranian economy. He is too stupid to understand that there is no justification for his actions or even in his existence in general. Just as in Iraq over 500,000 children died because of sanctions on that country, he won't rest until thousands of people have died in Iran. Unfortunately for him, he will have to wait a very long time since the Iranian economy is immune to sanctions.

About Corruption Currents

  • Corruption Currents, The Wall Street Journal’s corruption blog, digs into the ever-present and ever-changing world of corporate corruption. It is a source of news, analysis and commentary for those who earn a living by finding corruption or by avoiding it. Corruption Currents is written by Christopher. M. Matthews and Sam Rubenfeld and edited by Nick Elliott.

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