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Sudan ‘Ready to Engage’ on Sanctions Talks, Says Finance Minister
printFor nearly 20 years, U.S. sanctions have stymied Sudan's economic growth while doing little to stop savvy bankers from doing business in the country, according to Bader Eldin Mahmmoud Abbas Mukhtar, the country's minister of finance and national economy. "There should be a change. We are ready to engage with the Americans," Mukhtar told ACAMS moneylaundering.com reporter Kira Zalan in a recent interview in Washington, D.C. Along with other representatives of Sudan, Mukhtar described the African nation's ongoing efforts to convince U.S. officials to lift restrictions stretching back 18 years for human rights abuses, purported support of terrorism and violence...
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A top commander in South Sudan's People's Liberation Army managed to embezzle and launder millions from the world's youngest state with the help of a U.S. dollar-denominated account, a global advocacy group claimed in a report Wednesday.
Sources in Sudan and the United States believe American officials may roll back sanctions against the North African country, which has been subject to a comprehensive U.S. trade embargo for nearly 20 years.
French prosecutors have dropped a money laundering investigation against an Iranian dissident group, a new set of AML rules is increasing the pressure on Chinese banks to flag suspicious activity, and more, in the midweek roundup.
The U.S. Treasury Department Wednesday fined Branch Banking & Trust Co. more than $19,000 for breaking federal rules against transacting with blacklisted Sudanese nationals.
Ongoing negotiations between U.S. officials and France's largest bank that could result in a monetary settlement of more than $1 billion involve violations of sanctions against Iran and Sudan, say sources.
A law enforcement and regulatory probe into potential sanctions violations by BNP Paribas centers on transactions tied to Sudan, according to an individual with direct knowledge of the matter.
The U.S. Treasury Department Thursday will lift economic restrictions against Sudan that have hampered the growth of the Republic of South Sudan's oil sector and the role of banks in the region.
Eager to lure new foreign investments, the world's newest nation still faces an uphill battle against the economic sanctions it technically freed itself from in July, say analysts.
Any changes to U.S. economic sanctions policies on Sudan and Myanmar will be slow moving, if they occur at all, despite recent diplomatic overtures and speculation, say analysts.
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