BANGI: Malaysia only recognises sanctions imposed by the United Nations and not of any individual country, says Home Minister Datuk Seri Saifuddin Nasution.
He said he relayed Malaysia's stance on sanctions to the United States Treasury Department's top sanctions official during a meeting this morning.
"The US delegates respected this," Saifuddin told reporters on the sidelines of the National Anti-Drug Agency Excellence Awards Ceremony yesterday.
Earlier, Saifuddin and Home Ministry officials met a delegation led by the US Treasury Department undersecretary for terrorism and financial intelligence, Brian Nelson.
The meeting centred around terror financing. Saifuddin said Putrajaya acknowledged concerns raised by US about possible money laundering activities involving groups linked to Malaysia.
Saifuddin said the delegates asked for Malaysia's commitment to efforts to fight terrorist financing.
"We reiterated Malaysia's commitment at the Asean and global level. Malaysia is a country that upholds the rule of law, and we have clear legislation to manage the issues raised."
Saifuddin said they also briefed the US delegation on Malaysia's strategic plan for addressing illegal financing and money laundering.
"The policies and strategies that we outlined are in line with international standards for both Basel II and Basel III (independent ranking on money laundering and terrorist financing).
"The US (delegates) were clear about it and appreciated our efforts."
He said Nelson also raised concerns about the possible involvement of individuals and companies in the country in financing terrorists.
He said Malaysia remained open to cooperating with the US to address the issue of terror financing.
"What they presented to us was based on one-sided information that needs verification at our level.
The meeting between Saifuddin and Nelson follows a Reuters report that the latter would visit Malaysia as Washington seeks to combat funding for Iran and its proxy groups as well as evasion of its sanctions on Russia.
In December, the US Treasury imposed sanctions on four Malaysia-based companies it accused of being fronts supporting Iran's production of drones.
Washington recently imposed further sanctions targeting Iran, including over Iranian drones used by Russia in the war in Ukraine, as the US seeks to ratchet up pressure on Tehran after its attack on Israel.