Headline : US Seeks To Curb Iran’s Fundraising Capacity In Southeast Asia

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(Bloomberg) -- Washington is concerned about growing efforts by Iran and groups like Hamas to solicit money in Southeast Asia, a senior US Treasury official said on Tuesday during a visit intended to rally support for sanctions enforcement in the region.

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.

The official, who spoke to reporters on the condition of anonymity to discuss private conversations, said the US expressed concern that Russia continues to source unspecified critical components in Southeast Asia, using transfers to mask the ultimate destination. They include components being used on the battlefield.

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.

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