Malaysia to assess response to unilateral sanctions amid concern over Iran oil shipments

MALAYSIA said on Wednesday (May 8) it would need to assess its response to unilaterally applied sanctions, following concerns raised by the United States over the role of Malaysia-based service providers in shipments of sanctioned Iranian oil.

A senior US treasury official said this week the US saw Iran’s capacity to move its oil as being reliant on service providers based in Malaysia.

The official also said the US was trying to prevent Malaysia from becoming a jurisdiction where the Palestinian militant group Hamas could both fundraise and then move money.

Malaysia government spokesperson Fahmi Fadzil said the country was prepared to engage with its US counterparts to better understand its concerns and stressed that it would comply with United Nations sanctions.

“We want to assert that Malaysia, as a sovereign nation, we comply with UN sanctions,” he told reporters.

“But when it comes to unilaterally applied sanctions, then I think we have to assess this situation.”

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Brian Nelson, the Under Secretary of the Treasury for Terrorism and Financial Intelligence and Neil MacBride, Treasury General Counsel, are expected to visit Malaysia this week as part of efforts to clamp down on financing for militant groups routed through South-east Asia. REUTERS