Under the new rules, the two departments responsible for imposing sanctions no longer need to develop detailed dossiers tying top officials or agents involved in terror groups to specific attacks or acts, said Nathan Sales, the State Department’s top counterterror official. Many of the targets also have operations in Turkey, highlighting a major concern among U.S. officials that lax financial and corporate oversight by the government in Ankara has allowed terror financing and evasion of sanctions to proliferate in the country. The Turkish Embassy in Washington didn’t immediately respond to a request for comment.
E.O. 13224 section 1F(b), gives the secretary of the Treasury, in consultation with the Secretary of State, the ability to take action against bankers and account managers that allow their services to be utilized by terrorists. This new language means that even foreign banks and other companies in the financial industry could lose access to the U.S. dollar if they provide correspondent banking services to terrorists.